The low standard of quality in the commercial real estate market in Ukraine and a lack of systemic changes are the result of withdrawal of foreign investors, Serhiy Serhiyenko, the managing partner of CBRE Ukraine, has said at the meeting “Global Review of Ukraine’s Economy” in Kyiv.
“In order for this to change, the state needs to be ready to help interact with potential investors. Because the barriers to entering the market are huge. Today there are practically no international investors. They were, they tried, and they practically all left. Now we need a thorough approach from the city and the state to plan competitive business infrastructure,” he added.
The managing partner of CBRE Ukraine said that a lack of international players is the reason for stagnation – almost everyone creates the same product with minimal innovations, while there is no systematic change in the approach to real estate, although there is demand for quality products in the country.
“Today, I would say, the commercial real estate market is in a state of stagnation and underdevelopment. We do not have system investors, we do not have a systematic approach to real estate, we have a very low quality standard, despite the fact that there is demand,” the expert said.
According to him, over the past 4.5 years, more than 500,000 square meters of offices have been leased in the Kyiv market, of which 200,000 were rented by IT companies.
He noted that the demand from IT specialists is huge, but it cannot be satisfied, as many companies need large-scale areas of 20,000-30,000 square meters, which can only be provided by systemic international players.
Sugar production in Ukraine as of September 24, 2019 amounted to 121,500 tonnes.
According to the Ukrtsukor National Association of Sugar Producers, as of this date 17 sugar factories were operating in the country, which have processed 934,200 tonnes of sugar beets.
As reported, the sugar season in Ukraine started on September 1. According to the Ukrtsukor association, the number of sugar factories in operation in the 2019/2020 season will be reduced from 42 to 32, and sugar production is expected to reach 1.1-1.2 million tonnes.
Sugar production in the 2018/2019 season decreased by 15% compared with the previous MY, to 1.82 million tonnes
Verkhovna Rada of Ukraine has introduced amendments into Ukrainian law “On electricity power market” permitting to buy electric power under bilateral agreements of the countries, which are not the members of the Europe’s Energy Society.
A total of 265 parliamentarians voted for the bill No.1084 “On amendments into some legislative acts of Ukraine on nuclear power use” at a plenary sitting.
MP Andriy Gerus introduced an amendment to the law on electric power market in Part 8, of Article 67 that permits to sell electric power imported from the states non-members of the Energy Society on the day-ahead markets and on the balancing market.
The production of basic pharmaceuticals in Ukraine in January-August 2019 increased by 8.8% compared to the same period last year, the State Statistics Service has reported. According to the report, in particular, production of drugs packaged for retail sale containing mixed or unmixed products increased by 5.6% in January-August compared to the same period of the previous year.
At the same time, the production of medicines containing antibiotics decreased by 3.1% compared with January-August 2018. The production of drugs intended for therapeutic or prophylactic use and containing corticosteroid hormones, their derivatives and structural analogues that do not contain antibiotics, fell by 15%, respectively.
As reported, production of basic pharmaceutical goods and pharmaceuticals in Ukraine in January-August 2018 decreased by 2.2% compared to the same period in 2017.
Solvent Ukrainian banks in January-August 2019 received UAH 44.29 billion in net profit, which is 3.2 times more than in the same period in 2018, the National Bank of Ukraine (NBU) has said. “More than half (58.3%) of this result was provided by the activities of state-owned PrivatBank,” the central bank said on its website.
According to the report, the banks’ income for the reporting period increased by 28.5%, to UAH 164.99 billion, expenses by 5.2%, to UAH 120.7 billion.
Based on the previously released data, in August the net profit of Ukrainian banks grew by 1.9 times, to UAH 7.57 billion: income rose by 20.8%, to UAH 23.59 billion, while expenses by 2.5%, to UAH 16.02 billion.
The National Bank explains the growth of the banks’ profitability for the eight months of this year by four factors: the growth of net interest and commission income of the banks by 18%, to UAH 53 billion and by 15%, to UAH 28.4 billion respectively, a positive result from revaluation and purchase and sale operations with UAH 14.9 billion, as well as a low volume of the banks’ payments to reserves with UAH 8 billion against UAH 14.4 billion for the eight months of 2018.
Paper and Board Company (Lviv), the producer of packaging cardboard tubes and hygienic paper products, in January-August 2019 saw a 9% rise in production year-over-year, to UAH 421.6 million. According to the Ukrpapir association, the company increased production of base paper for hygienic paper products by 15% over the period, to 4,480 tonnes, production of box cardboard fell by 3.4%, to 15,700 tonnes.
Toilet paper output grew by 8.5%, to 2.7 million rolls.
Paper and Board Company was established in 1946 on the basis of the production facilities of a small mechanical plant. Currently it produces goods and semi-finished products from waste paper (cardboard sheets, corners, tubes) and pulp paper (toilet paper, towels, napkins).
The company exports its products, in particular to Poland, Germany, France, Austria, Italy, Portugal and Romania.
