OREANDA-NEWS. On 24 July 2008 was announced, that according to a XXI Century marketing report, the Ukrainian retail market increased by 94000 sqm. over the first half-year 2008.

During the first half of 2008 an additional 59000 sqm of commercial space in retail centres was added to the Kyiv retail market, with the opening of the Kvadrat Perova Shopping Center (total area – 40,728 sqm, GLA – 19,100 sqm) - the first center built to the hypermarket-gallery format - a prominent event in the Kyiv retail market. The first phase of Materyk Shopping Center on Osokorky (total area – 38,000 sqm, GLA – 22,000 sqm) and Sky Mall Shopping Center within the mixed-use Dniprovska Prystan complex (total area – 28,000 sqm, GLA – 20,000 sqm) also opened during this period.

Two new shopping centers with 35,000 sqm of GLA were added to the regional retail market. In particular, Equator Shopping Center (total area – 44,000 sqm, GLA – 26,000 sqm) opened in Rivne and Aurora Shopping Center (total area – 11,000 sqm, GLA – 9,000 sqm) in Luhansk.

Big international retail players continued to access the Ukrainian market in the first half-year 2008.  Inditex group (Zara), Auchan hypermarket and DIY Praktiker opened their centers in Kyiv. “In the immediate future hypermarkets Mosmart and Real, TIY OBI, Kronwerk Multiplex and 5 Star Cinema, and also a children’s entertainment center Crazy Park are planned for opening”,  Maksym Bilous, Director of Strategic Development and Marketing Department said.

The process of investment transactions in the retail market continued, with Davento buying Alta Center and Meyer Bergman buyiing Alladin Shopping Center.

 “Developers’ interest is moving from Kyiv to the regions, especially to cities with populations above 200,000. Specifically, XXI Century is developing  Kvadrat shopping centers in Boryspil, Sumy, Cherkasy, Donetsk, Lviv, Simferopol, Savastopol, Kharkiv and Poltava”, Maksym Bilous added..

According to facts compiled by XXI Century, in the next three years the retail market will be characterized by:

- an increasing presence of new professional players in terms of operators and developers,

- an increase in the number of investment sales of completed projects;

- re-concept of unsuccessful projects;

- the enlargement of retail centers;

- an increase in entertainment offerings in retail centers due to competition;

- increase in rent of successful shopping centers;

- demand for commercial areas in Kyiv will continue to exceed supply.