The vacancy rate at Kyiv’s shopping malls decreased slightly last year.

According to analysts’ estimates, the share of vacant space in Kyiv’s shopping malls in 2024 was 13.1%, down from 16.3% the previous year. The highest vacancy rates are primarily concentrated in four facilities: Blockbuster Mall, Marmelad, Promenada Center, and Art Mall. The opening of large-format shopping malls amid a limited assortment of retailers has contributed to the average market vacancy rate and complicated tenant attraction.

Retail’s active development in recent years and the market’s retail space saturation have led to a gradual dip in attendance, an increase in vacancies, and a drop in rental rates. The fluctuation in the share of vacant space is also influenced by the relocation of operators from the east and south to the west due to the destruction of shopping malls.

Additionally, the vacancy rate is impacted by challenges in resuming full operations for entertainment operators in shopping centers. Experts believe that developers’ interests are currently shifting due to the war, with investors considering other regions, new segments, and alternative industries for their investment.