"I believe that specialization among developers will take place after market saturation".

Vitaliy Boyko

Ukrainian real estate has moved center-stage over recent years and, currently, the country is where everybody is heading: international developers, hotel operators, retailers, as well as institutional investors. Though in its upswing, Ukrainian market is not crystal clear and there are certain developments one should be aware of in order to be able to see his projects come to fruition.

Since its establishment in 2001, Ukrainian Trade Guild (UTG), the leading consulting organization in the country, has helped a huge number of companies, both domestic and foreign, to start activities in Ukraine and to implement a variety of projects in all sectors of real estate.

In this exclusive interview Mr.Vitaliy Boyko, Director of UTG, delivers an in-depth analysis covering all the country’s regions and property segments. He also reveals details about UTG’ future plans and projects.

Why, although attracting greatest investment interest, Kiev’s development is the slowlest? Why are retail property rents in Ukraine two and a half times higher than in Eastern Europe? When could a decrease in retail and office space rents be expected? Which city is best supplied with office and retail projects? When a material change in Ukraine’s construction rate is likely to take place? When specialization among local developers could be expected? Which are the drivers and the biggest issues of the country’s logistics market? Should the lack of title to land estates be considered a major issue? What is that hinders high-rise construction in the Ukrainian cities and what is the solution to the problem? When will institutional investors come to shop completed retail, office or logistics properties in Ukraine? Can a foreign company be successful in the Ukrainian market without the support of domestic partners? Is it easy for international investors to find experienced local companies to join forces with? These are only some of the questions Mr. Boyko reflects on in the present interview.

He also shares his insights into issues such as: Is political risk a major issue in the country’s property business? Why aren’t there any nation-wide domestic retail chains in Ukraine? What kind of retailers is the country lacking at the moment? Is EURO 2012 a major driver of Ukraine’s hospitality industry or it rather coincides with the significantly strong interest in the country’s hotels market? Why is land in Odessa and Lvov rather hard to buy? Where are the only business park projects currently being implemented in Ukraine? When will the country be supplied with retail parks and outlet centers? Go for the answers.



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