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Kiev, 6 November, 2013 — By the end of 2013, Kiev’s retail market is likely to receive additional 95,700 sq m of new shopping centres, with the Q4 results exceeding the combined outcome of the previous three quarters, according to Jones Lang LaSalle experts.
Only one shopping centre has been opened in the Ukrainian capital since the beginning of 2013, Silver Breeze, with the GLA of 14,600 sq m. Announcements for Q4 include Gulliver shopping centre (45,200 sq m) and Art Mall (35,500 sq m), as well as Manufactura outlet centre (15,000 sq m). If all the announced projects are realized, the total of 110,000 sq m GLA will appear in the market in 2013, which will exceed the result of the previous year by 6%.
Anna Chubotina, Head of Retail, Jones Lang LaSalle, Ukraine, says, “By the year end, the total quality shopping centre stock in Kiev will reach 727,000 sq m. Meanwhile, Kiev’s retail space per capita ratio remains one of the lowest in Europe — 222 sq m per 1,000 inhabitants. This explains why Kiev is attractive to both local and international mall developers. In 2014 we are expecting the record-breaking entrance of 470,000 sq m due to opening of several large complexes. As a result, the market saturation in Kiev will rise to 419 sq m per 1,000 inhabitants.”
European Shopping Centre stock
Source: Jones Lang LaSalle
Supply dynamicsSource: Jones Lang LaSalle
Natalia Kopeychenko, Head of PR
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