Budhouse Group investment and development group of companies (BHG, Kyiv) in 2020 reduced the turnover in its shopping and entertainment centers Fabrika (Kherson), Liubava (Cherkasy) and Forum Lviv (Lviv) by 11%, while in 2019 the increase was 12.8%, the company’s press service said on Thursday.
“Compared to 2020, the turnover of shopping centers in hryvnias has significantly decreased. If in 2018 the average growth was 23.3%, and in 2019 it amounted to 12.8%, then in 2020, for obvious reasons, this figure decreased by 11%. The total turnover of Budhouse Group shopping centers in 2020 amounted to about UAH 6.8 billion,” the developer’s press service said.
According to it, the smallest drop in trade turnover (by 2.6%) was recorded in the Liubava shopping and entertainment center.
According to the group, traffic to shopping centers in 2020 decreased by 28% compared to the previous year, to 19.4 million people. In addition, visitors spent 16% less time in the malls due to restrictions on the operation of entertainment zones.
The average vacancy rate for the group’s malls was 0.6% over the year, with the lowest rate (0.3%) recorded in the Forum Lviv mall. The company also signed 30 new lease agreements for premises with a total area of 6,500 square meters versus 40 contracts for 3,100 square meters in 2019.
The rotation of tenants decreased compared to 2019 and was mainly due to the difficult economic situation. The largest transactions were concluded with LC Waikiki and Budynok Ihrashok in the Liubava shopping and entertainment center.
Budhouse Group LLC was established in 2006. It is the owner and developer of commercial, office, hotel and residential real estate in Kyiv, Lviv, Cherkasy, Kherson, Odesa, Kharkiv, and Zaporizhia.
The charter capital is UAH 95.1 million.
