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According to JLL, in the 1st quarter of 2016 a new international retailer joined the market of qualitative commercial real estate in Kyiv – the first store was opened by Egyptian fashion brand Ravin Jeans. Other 4 Ukrainian operators made their debut at the same period of time: the first multi brand stores, such as Miracle Me, Kid’s Republic and Domino Lady, as well as A Tan Man were opened in Kyiv.
“In addition to the new names Ukrainian retailers also continued their development in the 1st quarter of the year among them are Ukrainian ''Svit sportu'', Giulia, Arber, Miller, Kleo, as well as some international brands, such as Rinascimento, Sanetta, LC Waikiki. Such a tendacny led to a decrease in vacancy rates in Kyiv malls to their lowest level in two last years – 6,2% vs 7,2% at the end of 2015. Comparing to the same period of the previous year, index decreased by 3 pp inspite the record-breaking low volume of commissioned spaces last year and the lack of new supply in the first quarter of 2016. ”
Currently 3 shopping malls are expected to be opened in 2016: Lavina Mall (127,5 thousand sq.m. Here and after leasable area is stated), TSUM department store (22,5 thousand sq.m.) and New Way shopping mall (16 thousand sq.m.). Smart Plaza (15 thousand sq.m.) is delayed and is due to open in 2017. If all the announced objects open on time, the volume of launched retail spaces in Kyiv in 2016 will reach 166 thousand sqm vs 37,7 thousand sqm in 2015.
It’s noteworthy that in the 1st quarter of 2016 one of capital’s shopping mall Alta Center (16 thousand sqm) stopped operating. As a result, the market of high-quality shopping centers in Kyiv decreased to 801 thousand sqm.
Lack of commissioning has resulted in adjustment of rental rates. The maximum rental rate on the retail market in Kyiv was $ 720 for sqm per year and $ 60 for sqm per month.
