Taisia Lytovchenko is among experts interviewed by Commercial Property about the commercial real estate market in Dnipro in 2020.
“Despite some developers’ activities in recent years, no new large shopping centers are built in Dnipro. However, they might have qualitatively increased competition in the commercial real estate market. Small facilities’ commissioning and currently working shopping centers’ renovantion mostly provided new proposition in 2019–2020”.
The commissioning of shopping entertainment center APPOLO’s second turn provided the largest part of the commercial real estate. As RDA notes, the total area increased by 50% after opening, and its lease area reached 30,000 sq. m that allowed APPOLO to become one of the top three largest TECs in the city.
“The overall situation for coronavirus in Ukraine directly impacts the retailers and shopping centers’ performance. Protracted quarantine and economic recession it has provoked may aggravate the situation for active players and postpone new facilities’ market entry,” Taisia Lytovchenko warns. According to her, it’s clear right now that we can hardly expect for the large shopping facilities’ opening in Dnipro. Even the projects previously scheduled for 2022 are more likely to be postponed.
More details are in Commercial Property.