New master plan for Ternopil

The Ternopil city council has asked its executive committee to guarantee the development of a city master plans up to December 31, 2007.

"The executive committee was ordered to guarantee delineation of the municipal border, completion of land inventory with obligatory determination of land amount required for functional use, allocation of free plots that may be sold or leased out, as well as to draw up plans for land business structure of the city, correction of money norm estimation of municipal areas," the Council press service reported.

The executive committee must also take a look of the previous city council decisions and city head directives on endorsement of acts for the selection and inspection of land lots.

West Ukrainian retailer Rovex goes to cash&carry market

Rovex goes to a segment cash & carry. One of the biggest retailer in the Western Ukraine, Rovex expands in a new segment. The company is going to complete the construction of the first shopping centre in Ternopil by the end of the year. Funding for the project will be received through bond issues for UAH 6 mln., as well as bank loans.

According to market analysis, a construction a cash & carry centre (from K12 to K17 sq. m.) costs approximately UAH 120 mln. (USD 24 mln.) , with PB about 8-10 years.
In the Western Ukraine Rovex did not face significant competition from national retail chains, who are don't go to the region due to the low citizens' purchasing power .

At Western Ukraine average check retailers two to three times less than in Kiev, about UAH 10 in hypermarkets and 5 UAH in the discounters.

According to the Renaissance Capital Ukraine, retail market the western region of Ukraine in 2006 amounted to UAH 15.073 bln. (12% of the Ukrainian market). The largest operators in the region are "Intermarket, Rovex, Pakko", "Nash kray (Our Land)" and "Agrocontrakt.