In Kyiv, 42 thousand square meters of office space is expected to be commissioned by the end of the year, according to CBRE Ukraine’s office real estate market research.
According to the study, in the first half of 2023, only one small office building Unit.City B4 (13.2 thousand square meters) was commissioned. The total volume of competitive office space remained almost unchanged at 2.22 million sq m.
It is expected that in the second half of 2023, about 42 thousand sq m will be commissioned in four business centers. At the same time, BC Twelve (14 thousand sq m) and BC Heritage (16.8 thousand sq m) account for 73% of the new supply. CBRE Ukraine does not rule out delays in construction and commissioning.
The study states that the full-scale war has reduced development activity in the office segment; the amount of office space under construction has decreased. In particular, several office projects originally scheduled for completion in 2023 have been suspended until at least 2024. At the same time, no new development projects were recorded in 2022, and it is unlikely that they will appear before the end of 2023. Therefore, it is predicted that over the next two to three years, the volume of office real estate can only grow if suspended development projects are restarted.
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. According to Fortune, it is one of the world’s 500 largest companies.
CBRE Group Inc. shares are traded on the New York Stock Exchange.
CBRE’s Ukrainian office was opened in January 2008 and is part of the company’s affiliate network.
More than 100,000 trees have been digitized in Kyiv, according to Oleksandr Voznyi, head of the Department of Environmental Protection and Climate Change Adaptation at the Kyiv City State Administration.
“Our online map of trees is being actively updated and as of today contains more than 107 thousand plantations. By creating this resource, we aimed to conduct a clear inventory and understand how many trees there are in the capital, what condition they are in, and to provide the community with effective control tools,” he wrote on Facebook.
Voznyi noted that a significant amount of work has been done by the utility companies of Desnianskyi, Holosiivskyi and Pecherskyi districts, which have digitized all street trees and the vast majority of parks and are now working in parks.
“Seven parks in Desnianskyi and one in Holosiivskyi districts of the capital have already been added to the online map. We have also started digitizing the Partisan Glory Park in Darnytsia district and the Eternal Glory Park in Pechersk district of Kyiv,” he said.
The resource will contain a photo of each “digitized” tree, information about its location (with reference to the exact coordinates), species, trunk diameter, height and condition.
The online map is still being updated. Since it is created using high-precision maps, it will be made public as soon as it is possible from the point of view of security issues.
In Ukraine, the heat will drop slightly in the next few days – on Tuesday, August 22, the temperature will be 15-20° at night, 24-29° during the day, 27-32° in Zakarpattia, central and eastern regions; in the south of the country, 18-23° at night, 30-35° during the day, according to the Ukrainian Weather Center.
Forecasters predict that August 22 will be without precipitation, only in the Carpathians, in the Carpathian region and in the northeast of the country there will be short-term rains in some places during the day. The wind will be northwest, 5-10 m/s.
No precipitation is expected in Kyiv. Northwest wind, 5-10 m/s. The temperature at night will be 18-20°, during the day 27-29°.
According to the data of the Borys Sreznevsky Central Geophysical Observatory. On August 22, the highest daytime temperature was 36.6° in 2000, and the lowest nighttime temperature was 4.6° in 1914.
On Wednesday, August 23, it will be without precipitation, only in the Carpathian region there will be short-term rains and thunderstorms. West, northwest wind, 5-10 m / s.
Temperature at night will be 12-17°, during the day 24-29°, in Transcarpathia and Prykarpattia up to 31°; in the southern part of the country at night 16-21°, on the coast up to 23°, during the day 28-33°.
In Kyiv on August 23, there will be no precipitation. West, northwest wind, 5-10 m/s. Temperature at night 14-16°, during the day 26-28°.
Restrictions have been imposed on the movement of trucks in Kyiv and at the entrance to the city, the Kyiv Patrol Police press service reported on Telegram on Sunday morning.
“The temporary traffic restriction applies to heavy vehicles with a total weight of more than 24 tons and an axle load of more than 7 tons and applies to both entry to Kyiv and movement around the city,” the statement said.
The police emphasized that the duration of the restriction may vary according to the temperature regime and urged to follow the latest information on their Telegram channel.
“We remind you that the main purpose of these measures is to preserve the road surface, which is being destroyed by heavy traffic of heavy vehicles in hot weather,” the special service said.
Restrictions have been imposed on the movement of trucks in Kyiv, the press service of the Kyiv Patrol Police reports on its Telegram channel.
“Temporary traffic restrictions apply to heavy vehicles with a total weight of more than 24 tons, an axle load of more than 7 tons and apply to both entry to Kyiv and movement in the city. The duration of the restriction may vary depending on the temperature. So follow the latest information on our Telegram channel,” the statement said.
The police reminded that the main purpose of such measures is to preserve the road surface, which is destroyed due to the heavy traffic of heavy vehicles in hot weather.
Ukraine’s hotel market has stabilized amid the war, with the highest activity in the west of the country and a slow recovery in Kyiv, according to a study by EY Ukraine.
“We can state that the market has stabilized in the new realities. Lviv, Bukovel and western Ukraine in general have very positive indicators, while Kyiv’s are quite low. In the capital, hotel occupancy is 15-25%, while before the war, the normal rate was 50-60%,” said Rostyslav Khoma, Head of Real Estate Advisory Services at EY Ukraine, at the conference “Analytics of the Ukrainian Real Estate Market: First Half of 2023”.
According to the company’s research, in Lviv and Bukovel, hotel occupancy in June 2023 was about 50-60%, while in Kyiv it was about 25%. At the same time, occupancy in the capital has shown moderate growth since January 2023, and June showed the highest occupancy rate in Kyiv since the start of the full-scale war.
“At the moment, we do not yet see any grounds for a sharp change in the level of loading in Kyiv given the current situation,” Khoma said.
In the first half of the year, the main income of hotels was directly from accommodation, while the food & beverage category and conference functions brought less money.
According to the expert, further recovery and development of the hotel market depends on the military and macroeconomic situation in the country.
“If the war ends quickly, there are more positive expectations due to the possible resumption of air travel, a potential increase in foreign tourists. However, it will take some time until tourists are convinced that it is safe to travel to Ukraine. In the event of a protracted war, however, the emphasis will have to be on domestic tourism. Given the restrictions on men traveling abroad, domestic tourism will be a key driver of demand in the medium and long term,” Khoma summarized.
