Construction of the largest industrial park in western Ukraine is starting in Lviv.

Lviv authorities have signed land lease agreements in the Sygnivka industrial zone with the Formatsia Sygnivka management company, which is part of the Alterra Group. The first buildings, with an area of about 10,000 square meters, will be open in late 2024 or early 2025. The project’s implementation is planned for eight years, and the total area of the buildings will be more than 160,000 square meters.

“We have been working in the logistics and industrial real estate segment for a long time and have more than 300 current tenants, so we understand what is happening in the market better than others. This knowledge will allow us to create products that are necessary for the market,” Alterra Group noted.

It is planned to attract up to 10 large enterprises and fifty small and medium-sized businesses to the industrial park. The industrial park’s commercial activity will lead to a ₴250M annual increase in tax revenue to Lviv’s budgetand more than ₴430M to the state budget.