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, with 55,000 square meters. Next year, if construction plans hold up, five new malls are to open in Kyiv, adding 173,000 square meters of retail space.

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 Assessment Method, or BREEAM, an internationally recognized environmental rating system. A 15-story Class A office center, with 9,000 square meters of leasable space, Grand Business stands at Vasylkivska 98, across from the St. Nicholas Roman Catholic Cathedral. By the end of this year, Dragon intends to have eight buildings in Ukraine certified