Wednesday, February 28, 2024

The number of shopping malls in the capital will soon increase by 50 new facilities.

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In the coming years, 50 new shopping and entertainment centers may appear in Kyiv. To the existing shopping centers with 2.5 million square meters, in 2024-2025 developers plan to construct facilities with a total leased area of more than 250,000 square meters, as predicted by the Ukrainian Trade Guild (UTG). Analysts believe that the appearance of new shopping areas will increase competition for buyers, especially with current decreases in shopping center attendance. Considering the average consumer’s current income level, solvent demand exists that can ensure the successful operation of 2,313,033 square meters of retail space, while as of January 2024, 2,457,010 square meters are on the market. The commissioning of the declared projects will bring a surplus of retail space, a gradual redistribution of consumer flows between objects, an increase in vacancy, and a downward correction of rental rates. The vacancy rate may reach 17% by the end of 2024.

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