BESARABSKY MARKET

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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