Partners news Friday, April 9 With the EU closed to Ukrainian tourists, local beach and rural retreat hotels may enjoy another boom this summer. Vodafone has reported that analytics of cell phone users showed a 30% yoy increase last summer at Ukrainian beach resorts. On the Azov, one hamlet, Bilosarayska Kosa, about 20 kilometers west of Mariu... #TurisminUkraine #UkraineVacation
Partners newsReal Estate Friday, April 9 Ukraine’s real estate magnates were recently ranked by Forbes Ukraine. The top eight are: Viktor Polishchuk, owner of Gulliver and the Eldorado retail chain. $70 million Vagif Aliyev, developer of Blockbuster Mall, Lavina Mall, and Mandarin Plaza. $61 million Tomas Fiala, founder/CEO of Dr...
Real Estate Friday, April 9 Rents are softening during the April lockdown, with discounts up to 30% expected, said Yuri Pita, President of the Association of Realtors of Ukraine, (Interfax-Ukraine). Assuming the coronavirus pandemic ebbs in May, rents will stabilize. However, he adds: “In the face of accelera... #RealEstateUkraine #RentRatesUkraine
Real Estate Friday, April 9 Kyiv’s office vacancy rate doubled last year, to 11%, the highest level since 2014. In turn, rents fell by 10 to 20%, reported the Kyiv Post. Faced with uncertainty in the pandemic year, CBRE Ukraine said that developers offered only 125,000 square meter... #Kyiv’sofficevacancy #RealEstateUkraine
Real Estate Friday, April 9 Remote working will cause a 25% shrinkage of Kyiv’s ‘office footprint’ by 2024, predicted Sergiyenko of CBRE, (Kyiv Post). “In other words, if there are 2 million square meters in total supply — 400,000 to 500,000 square meters will be vacated,” he says. However, he cautions: “Offices are ... #OfficeVacancy #RealEstateVacancy #RemoteWorking
Real Estate Friday, April 9 Retailers from neighboring Poland and Turkey aggressively court Ukrainian consumers , introducing their brands and opening stores, said Konstantin Oliynyk, UTG (Interfax-Ukraine). Brands from Poland include: LPP, Sinsay, CROPP, House, MOHITO, Reserved. Turkish retail brands include: ... #RealEstate #RealEstateUkraine #UTG #UTGrealestate #UTGukraine
Real Estate Friday, April 9 The e-commerce boom pushed Kyiv warehouse vacancy rates down from 30% to 2%, according to a new report by Cushman & Wakefield, the real estate consultancy. Although 85,000 square meters of new space were commissioned last year, rates have increased to $5.5 per square meter. “It is not enough to sat... #ecommerceboom #RealEstateUkraine
Partners newsReal Estate Friday, April 9 During the pandemic year, online shopping increased by 26% and shopping mall rents softened. Despite these conditions 20 new malls are expected to open across Ukraine by the end of next year. This will add a total of 1.8 million square meters of leasable area, reported the Kyiv Post. This year, Kyiv is to see the openings of Ocean Mall with 100,000 square meters and Blockbuster Phase 3, wi... #CommercialRealEstate #VaccancyrateUkraine
Real Estate Friday, April 9 While shopping malls close in the US, they have a future in Ukraine, said Sergiy Sergiyenko, Managing Partner of CBRE Ukraine, (Kyiv Post). “Living in Kyiv and Ukraine, in general, there are no quality public spaces in winter…So, people go out and go to a mall,” he said add... #CBRE #CBREukraine
EconomyReal Estate Friday, April 9 In Lviv, the continuing investment in property development includes the construction of a business and city administrative center on a prime 7-hectare lot which had previously been a military base, the Lviv City Council has announced. The triangular lot which is located 1.7 kilometerss west of Rynok Square, is to become a mixed use area. The project will include a park, a business center, a cong... #LvivProperty #LvivRealestate #propertyDevelopment
EconomyFinanceInvestmentsReal EstateTech Friday, April 9 Poland’s BGK Bank has agreed to fund 60% of the first phase of Lviv’s Innovation District IT Park, the technology park has reported. The State-owned Bank, Gospodarstwa Krajowego, will loan €81.5 million for the €136 million first phase of development. With a first phase expected to be completed by ... #BGK #LvivDevelopment #LvivPark #RealEstateInvestments
EconomyInvestments Friday, April 9 ATB supermarket chain plans to invest $410 million in its expansion in the Ukrainian market this year, said Boris Markov, ATB General Director, in a company press release. Claiming to be Ukraine’s fastest growing supermarket chain, ATB said that it invested $370 million in its expansion during 2020, op... #ATBsupermarkets #ATBukraine