Dragon Capital has begun construction of the second phase of the M10 Lviv Industrial Park and is preparing to resume development of two industrial park projects in the Kyiv region, according to Andriy Brynzylo, CEO of Dragon Capital’s industrial parks division.
“The development of the M10 Lviv Industrial Park is part of Dragon Capital’s strategy to build a portfolio of new industrial real estate in Kyiv and Lviv. Demand for high-quality warehouse and manufacturing space in Ukraine is growing, despite the hostilities, particularly from companies relocating their businesses. In addition to this ongoing project, we are working on resuming the development of two other industrial park projects in the Kyiv region, which we will announce separately in the near future,” Brinzilo said.
According to him, the launch of the second phase of M10 (Class A warehouse and industrial space with a total area of 22,000 sq. m.) will offer the market new opportunities for development.
M10 Lviv Industrial Park is located in the Ryasne-2 industrial zone of Lviv, directly on the M10 highway, 60 km from the Krakivets border crossing on the border with Poland. The park’s total area is 23.5 hectares and provides for the development of warehouse and industrial real estate facilities with a total area of over 140,000 square meters. The first phase of the project, with a total area of 14,400 square meters, was commissioned in February 2024 and is fully operational.
The project is being implemented in partnership with the European Bank for Reconstruction and Development (EBRD) and the Ukraine Investment Fund managed by Norfund, which hold 35% and 30% stakes in the project, respectively.
In September 2023, the World Bank’s Multilateral Investment Guarantee Agency (MIGA) provided the project with a 10-year guarantee covering risks of physical damage to the facility due to military action or loss of control over it.
The facility is managed by the Dragon Capital Property Management team. The project aims to obtain “green” certification in accordance with international standards. The first building at M10 Lviv Industrial Park has already been certified under the EDGE standard (energy efficiency and environmental sustainability).
Dragon Capital is one of the largest groups of companies in Ukraine operating in the investment and financial services sector. The company has over 20 years of experience in direct investments in leading Ukrainian companies, as well as in landmark residential and commercial real estate projects.
Dragon Capital Property Management is a management company that manages a portfolio of commercial real estate. It manages 25 properties (business centers, shopping malls, and logistics complexes) with a total area of over 570,000 square meters.
Currently, Dragon Capital has two industrial park projects in its portfolio: M10 Lviv Industrial Park in Lviv with a total area of 140,000 sq. m and E40 Industrial Park near Kyiv with an area of 200,000 sq. m.
