The Ukrainian commercial real estate market has recovered by 70%.
The retail real estate sentiment index (RWBI), after a sharp drop in February and March 2022 to 16.7, recovered in September to 28.3, the Ukrainian Council of Shopping Centers reported. It is noted that the pre-war indicator in September last year was 38.7. So, the commercial real estate market has already recovered by about 70%. As of November 1, 241 shopping centers with a leased area of 4.4 million sq. meters have resumed work in Ukraine out of 326 shopping centers. This is 76% of all retail spaces, including those in the temporarily occupied territory. However, 10% of retail spaces (590,000 sq. meters) are not working, a large part of which are damaged. Due to war, 27 commercial real estate objects with an area of more than 1 million sq. meters were destroyed. However, six new shopping centers will be opened in 2022, all of which are small and located in the west of the country.