Flashback: Jan 09 - Feb 09 in Ukrainian RE
Due the many reason I did not post any new stuff for a while. So, I'd like to summarize some news and events in Ukraine for the past 2 month.
- Vacancy in A class office center reached 10-15 % comparing with same time at 2008. Rent rates lower as least for 30% in USD in some cases for the existing lease
- Rent rates in shopping center will drop for 10-15 % in USD next 6 month
- Residential market, especially the primary one has zero demand. So experts waiting for 30-40 % fall during 2009. Construction works are continuing only at 15% of objects-in-progress/
- Belgium IIG review their business in Ukraine, taking into instable condition in Head office.
- Nikolay Tolmachev, TMM's CEO predicts 90% level of bankruptcy in small and mid-developers.
- MOS City Group close their activity on Kiev' "Manhattan" on Rybalski island on Dnepr river
- Africa Israel stops their retail project in Zaporizhe
- Mirax is trying to sell uncomplete Mirax Plaza for USD90 mln. Maximum market price - 30 mln, funds say.
- Colliers Ukraine closed brokerage deals for more than 3000 sqm on Kiev office market
- NAI Pickard ans Metro Group Asset Management Ukraine LLC get into joint venture regarding property management
- NEST sells brand new 8100 sqm offiice center on Mechanizatorov str. But still no tenants there
- Schmidt Investors bougt A class office center "Illinsky" from Ukrsibbank co-owner Galiev
- Russians - Inteco, Sistema-Gals, Mirax, PIK go home - all activities are closed.
- East-Ukraine retaler Amstor has techical default on corporate bonds
- IKEA will start construction their first shopping centre at 3Q 2009
- OKEY seeks strategic alliance for future growth and put on the table 25% stake
- OBI has opened first own DYI in Odessa
Stay tuned!
