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
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
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
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
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
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
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... #RealEstateUkraine #RealEstateVacancy
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
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...
The government’s ‘Big Construction’ program will invest in infrastructure for four industrial parks this year, Oleksiy Chernyshov, Minister for Community and Territorial Development, says according the government website. The announcement came at a meeting with Dragon Capital, which is building two industrial ... #BigConstruction #BigConstructionofZelenskiy #DragonCapital #IndustrialParks
To promote ‘green’ energy efficient commercial real estate, the EBRD is lending Dragon Capital $12.5 million for construction on Grand Business Center and two warehouses, one in Brovary and one in Kharkiv. Last July, Grand Business Center became Kyiv’s first office building to receive a sustainability certificate under the Building Research Establishment Environmental ... #CommercialRealEstate #DragonCapital #ebrd #GrandBusinessCenter
The first large scale privatizations of public enterprises are to take place this summer , Prime Minister Shmygal announced on Telegram. After meeting with Dmytro Sennychenko, the Head of the State Property Fund, Shmygal wrote that top candidates for auction are: Kyiv’s President Hotel, K... #BigPrivatization #MinisterShmygal #privatization #StatePropertyFund
The Rada passed a bill yesterday to resume privatization of large state owned corporations – one year after sales were suspended due to the coronavirus pandemic. The State Property Fund hopes to raise as much as $430 million this year by selling six large state companies, including Kyiv’s President Hotel, Kyiv Bolshevik Plant, the Odesa Portside Plant and Unit... #KyivBolshevik #privatization #PrivatizationinUkraine #StateOwnedCorporations #StatePropertyFund #UnitedMining
Addressing the aftertaste of corrupt privatizations of the 1990s , Sennychenko wrote: “The speculation that someone wants to buy up state property cheaply will not work! Absolutely transparent privatization auctions with offers for any wallet demonstrate only... #privatization #RealEstateoftheGovernment #StateProperty
Private investment will breathe economic life into dead state assets, Economy Minister Ihor Petrashko wrote on the Ministry website. He said: “Removing restrictions on the sale of large state-owned enterprises will not only fill the state budget, but also attract large ... #IhorPetrashko #investments #privatization #PrivatizationinUkraine #StateAssets #StateCompaniesforSale
