With retail a main driver of Ukraine’s economic growth this year, 44 major retail projects are underway in Kyiv, placing on the nation’s largest market 1.3 million square meters of new leasable space

With retail a main driver of Ukraine’s economic growth this year, 44 major retail projects are underway in Kyiv, placing on the nation’s largest market 1.3 million square meters of new leasable space, reports the Ukrainian Trade Guild. “The lion’s share will open before the end of 2020,” reports the real estate consultancy. The retail vacancy rate is to rise above the current level of 5.5% and outdated shopping centers are expected to close. Several shopping centers owners are investing in modernizations, said Konstantin Oleinik, UTG’s head of Strategic Consulting. By contrast, Kyiv’s retail vacancy rate in 2016 was 12%.