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International retailers are not prepared to enter the Ukrainian market due to lack of realized quality shopping centres and the complexity of doing business in Ukraine, in particular, for the reasons of corruption and administrative barriers. Such an opinion was expressed by the speakers of the Shopping roundtable in the CEO Networking Dinner, organized by the Ukrainian Real Estate Club - Daniil Vladov, Head of Jones Lang LaSalle in Ukraine, and Oleg Kurinnoy, Managing director at Dragon Development.
Commenting on the situation in attracting investment to the local real estate market, Oleg Kurinnoy, Managing director at Dragon Development said: «The reason for the low rate of investment attractiveness of Ukraine is the high level of corruption and weak protection of property rights system, which reflects in selectivity and bias of the judiciary system and regulatory authorities».
According to experts, in addition, despite the fact that the bulk of investment in recent years was in retail real estate it is still not enough quality supply in this segment. According to Daniil Vladov According to Daniil Vladov, today the total supply of qulity spaces on Kiev market is around 450 thousands sq. m. that is three times less than in Warsaw, for example.
Like many other players in the market, retail real estate experts expect an increase in the number of foreign retail operators in Ukraine probably after Euro 2012, as holding of such a high level event in Ukraine will promote a positive image of the country abroad.
Discussion of commercial real estate was held as a part of the annual event CEO Networking Dinner, organized by the Ukrainian Real Estate Club. Discussions were held at nine roundtables: banking, investment, office, retail, hotels and residential real estate segments, legal, construction, and also «green» building.
Speakers at the meeting were Aleksei Govorun (TMM), Aleksei Evchenko (ArtBuild Hotel Group), Anna Dukhno (Knauf Insulation Ukraine), Vladislav Bayraka (Bank of Cyprus), Wolfgang Gomernik (Delta Projektconsult Ukraine), Daniil Vladov (JLL), Dominique Menu (BNP Paribas), Elena Shulyak (Midland Development), Igor Kabuzenko (ICON Private Equity Fund), Illya Sverdlov (DLA Piper Ukraine) Luydmila Luganova (Hospitaler Group), Michail Artyukhov (UZTS), Nataliya Stelmakh (DTZ Ukraine), Natalia Kochergina (DLA Piper Ukraine), Nick Cotton (DTZ Ukraine), Oleg Kurinnoy (Dragon Development), Sergei Fedorik («Ukrbudcontract»), Stanislav Shulga (UaGBC) and others.
