In January-June 2024, the warehouse property market in the capital expanded by 23.4 thousand sq m, with 205 thousand sq m expected to be commissioned in the second half of 2024 and in 2025, according to a study of the warehouse property market in Kyiv by CBRE Ukraine.
“Despite all the current economic and security challenges, the warehouse real estate market is experiencing a steady recovery, not without sensitivity to the dynamics of military operations. The war and its aftermath remain the main factors affecting leasing and investment activity. In the first half of 2024, the impact of rising energy and raw material costs, currency fluctuations and a constant shortage of skilled labor was particularly noticeable,” Natalia Sokyrko, Head of Warehouse and Logistics at CBRE Ukraine, was quoted in the release.
The study specifies that in the first half of 2024, the first stage of the Dudarkiv logistics complex (23.4 thousand square meters) was put on the market, which increased the volume of competitive warehouse space on the market by 1.8% to 1.32 million square meters since the beginning of the year. Half of the space in Dudarky is pre-leased.
CBRE, headquartered in Los Angeles (USA), is the world’s largest commercial real estate consulting and investment company, with revenues of $30.8 billion in 2022.
