The turnover of shopping centers in Ukraine rose by over 20% in the national currency at the start of the year.

In dollar terms, retail turnover increased by 14.05% from January to April, says UTG analysis. Shopping center attendance continues to improve – as of July, it averaged 393 visitors per 1,000 square meters of total retail rental space. This rise in attendance is helping to reduce vacancy rates in retail spaces, which averaged about 12.9% in July. Lower vacancy rates are contributing to a gradual increase in rental prices, with shopping gallery spaces of 50-200 square meters costing $22.2 per square meter in July (excluding other expenses).

The stability and resilience of Ukrainian retail real estate are also reflected in the ongoing development of new locations. In the first half of the year, Kyiv saw the opening of the BalticSk shopping center (approximately 10,000 square meters of leasable area) and the Viyar showroom (1,500 square meters). It is anticipated that around seven more facilities, totaling roughly 90,000 square meters of leasable space, may open in 2025 and 2026. These include the White Lines shopping center with 28,000 square meters and Olimpik Park with 23,000 square meters of leasable space.