About of BESARABSKY MARKET
PERRY | CONSTRUCTION
. The market for quality office space was tight during 2002.. Foreigners interested in investing in Ukraine's real estate market are finding that lack of transparency and the inability to secure clear titles pose serious challenges.. The influx of foreign companies required a significant number of new premises, ” said Eduard Onufriyenko, marketing manager for Colliers International Ukraine.. “Within a couple of years, primarily due to its relatively small size, the market rapidly transitioned into expansion and then into overbuilding.. But said that within a couple of years, the commercial real estate market could well be saturated again.. “Foreign investors will not show a strong interest in the country’s commercial real estate market until after the 2004 presidential elections, ” But said.. The nation’s weak political and economic condition “does not bode well for market expansion, especially after new space comes on the market later this year, ” he said.. Today, they’re occupied again in a month.” Much of the demand in the commercial market is linked to Ukrainian and Russian operators, he said.
PERRY | CONSTRUCTION
. The market for quality office space was tight during 2002.. Foreigners interested in investing in Ukraine's real estate market are finding that lack of transparency and the inability to secure clear titles pose serious challenges.. “This will be Class A office space; leases will be based on market prices, ” he said.. Eduard Onufriyenko, marketing manager at Kyiv’s Colliers International realty firm (Elsburg’s exclusive leasing agent on the Mandarin Plaza project) said the average montly asking rates at Kyiv’s two existing Class A office centers – Millennium and Podil Plaza – are $28 to $33 per square meter.. “Much of this demand is coming from Russian and Ukrainian companies whose businesses have grown in recent years, and now they can move up to lass A space.” Collier’s Onufriyenko said Elsburg’s new office center will likely find tenants because the two existing Class A office centers are not enough to fill market demand.. “On the one hand, demand for office space is strong yet the supply of prime office space in the market is very small compared to that of Central European markets, ” he said.
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