JSC Ukrenergomashiny, more than 75.22% of whose shares are owned by the state, has planned capital investments of UAH 125 million for the current year, in particular for the organization and costs of relocating part of its production facilities to the Zakarpattia region, according to the company’s interim financial report for the first half of 2025.
“The total volume of planned capital investments for 2025 is UAH 125 million, including the organization of events and expenses for the relocation of part of the production facilities to the Zakarpattia region, which are planned to be covered by funds from the budget reserve fund in accordance with the relevant resolution of the Cabinet of Ministers,” the published report states.
As reported, in April 2024, the company announced without details its decision to establish branches in the western regions of Ukraine: Lviv, Zakarpattia, and Chernivtsi. However, the press service clarified at the time that the company would remain in Kharkiv, and the branches would be created to speed up the production of electric traction equipment and logistics processes in order to quickly deliver equipment under export contracts.
According to the financial report for the first half of this year, in 2025, the largest investments are planned for the development of existing production facilities, in particular, the purchase of new equipment, overhaul, and modernization of existing equipment. In particular, UAH 38.4 million is planned to be allocated to provide production with the necessary organizational and technical equipment and tools, and UAH 7.4 million to develop auxiliary production and a laboratory and experimental base.
“These measures are partially financed from our own funds and from funds attracted from the budget reserve fund,” the company said.
Ukrenergomashini reports that in the second quarter of this year, UAH 1.76 million was spent, including UAH 675,000 on the purchase of new equipment.
At the same time, it is emphasized that in order to preserve the production capacities of a strategic enterprise that is of particular importance for Ukraine’s energy sector, work is underway to relocate part of the equipment to western regions.
JSC Ukrenergomashyny reminds that it is one of the largest enterprises in the world and the only designer and manufacturer in Ukraine of a wide range of equipment for the energy sector, but during the war, it has mastered the production of a wide range of other special products, in particular, for urban transport (customer: Tatra-YUG LLC), an electric motor has been designed and launched into serial production. A number of products have also been mastered for Friendly Wind Technologies LLC.
In addition, the design of an automatic reversing switch and switch for trams and trolleybuses is being completed, a control unit for diesel locomotives has been developed, and the production of traction units has been established.
As reported, the company ended January-June of this year with a net profit of UAH 0.49 million, while for the same period last year it was UAH 20.81 million, with a slight decrease in net income to UAH 468.85 million.
According to the report, sales in the second quarter amounted to UAH 243.55 million, of which UAH 132.255 million were export deliveries (54.3% of sales), with products exported to Kazakhstan, India, Armenia, Bulgaria, and Hungary.
The main customers (more than 5% of total revenue) include Ukrhydroenergo, NAEK Energoatom, Centrenergo, Mykolaiv Locomotive Repair Plant, Kryukiv Railway Car Building Works, DTRZ, Tatra-Yug, as well as Kozloduy NPP (Bulgaria), Paks NPP (Hungary), AAEK (Armenia), and KBI Energy (Kazakhstan).
At the same time, the value of concluded but not yet executed agreements (contracts) as of the end of the second quarter of 2025 exceeds UAH 8 billion, and the total amount of payments remaining to be paid under these contracts is UAH 2.86 billion.
Ukrenergomashyny JSC names foreign companies Andritz (Austria), Voith (Germany), General Electric (USA), and Bharat Heavy Electric Ltd. (India) as its main competitors and assesses competition in the markets as high.
JSC Ukrenergomashiny is the only manufacturer of turbine equipment for hydro, thermal, and nuclear power plants in Ukraine. It also produces electric motors for rail and urban transport.
As of July 1, 2025, the company employed nearly 2,600 people.
The rental market in Budapest (Hungary) in 2025 is experiencing price increases and increased competition, especially in the central areas of the capital, according to analysts and realtors.
According to Global Property Guide, the average asking rent for a one-bedroom apartment in Budapest in 2025 is around HUF 264,000 (≈ USD 713) per month.
Rental rates are rising: in January 2025, asking prices in Budapest rose by 1.8% compared to the previous month, with annual growth of around 9.5%.
For two-bedroom apartments, rental prices in central areas in 2024 ranged from €1,000 to €1,500 per month.
However, in central Budapest (districts 5, 6, 7, 1), the rent for a one-bedroom apartment can be €800–1,500, and in residential areas or outer districts, €600–850.
The share of households living in rented accommodation in Budapest has increased from 12.7% to 17.5% in recent years. The growth is particularly noticeable among young people: a significant proportion of the 20-35 age group rent their accommodation.
The gross rental yield (before expenses) in Hungary is around 5.06% (2025, Q3).
Demand for rentals is growing faster than new housing is being built, especially apartment buildings in central areas, creating a shortage and pushing rents up. In addition, the debate over the regulation of short-term rentals (Airbnb and similar) is intensifying: one district of Budapest has voted to ban short-term rentals starting in 2026, which could affect the overall rental market.
Source: http://relocation.com.ua/budapest-rental-housing-market-analysis-by-relocation/
The Portugal Golden Visa (ARI) program, launched in 2012, was initially based on real estate investments, but after reforms, it is now more focused on funds, donations, and capital investments.
Key parameters and changes.
1) In 2023, real estate was excluded as the main route for the program, forcing investors to switch to funds, business projects, or donations.
2) The minimum investment in a fund is €500,000.
3) In 2024, a record 4,987 golden visas (main applications + dependents) were issued, which is 72% more than a year earlier.
4) Since the program began, more than 15,619 visas have been issued to investors and about 22,000 visas to family members (as of September 2024).
China remains the largest country of origin for investors, but interest from the US, Brazil, Turkey, and other countries has increased. Changes to the program have prompted investors to diversify their investments, favoring funds and non-interest-bearing methods.
Source: http://relocation.com.ua/portugal-golden-visa-program-program-features-from-relocation/
Agrotrade, an agricultural holding company whose land bank is concentrated in the Kharkiv, Sumy, Chernihiv, and Poltava regions, has noted lower efficiency in frontline areas and would like to strengthen its business model through relocation.
“We want to grow. We want to strengthen our business model by relocating our land bank and forming land clusters in safer regions,” said Agrotrade CEO Serhiy Nechyporuk at the Agro Finance 2025 Conference, recently held by Oschadbank.
“We tell the banks: give us funds, we will relocate our land bank, create a successful cluster, for example, in Vinnytsia, Zhytomyr, Khmelnytskyi, and we will be more resilient. And bankers tell us: well, let’s finance it with your own funds, and then we’ll think about how we can refinance you,” he described the discussion with banks.
According to Nechyporuk, bankers are ignoring the sound business logic of the agricultural holding, which has strong agronomic and agrotechnological expertise that it can scale up, but at the same time they are refusing to increase financing limits due to the need for greater loan reserves for a company operating in frontline regions.
Currently, according to him, some of the company’s land is located 10 km from the line of combat.
“It is difficult to be effective when there are constantly REBs working in the fields: we have now adopted a precision farming strategy (using drones) and, unfortunately, we cannot implement it on two clusters (out of the company’s five clusters),” Nechyporuk gave an example.
He added that the company also has “agronomic combat” bonuses for agronomists who go out to certain fields that are considered risky.
According to the CEO of Agrotrade, if we do not focus on supporting the frontline regions now, a “wild economic frontline field” will soon appear there.
Nechyporuk also noted a decline in the trend toward processing products due to a shortage of raw materials, which arose against the backdrop of a reduction in Ukraine’s agricultural land bank from 25 million hectares to 20 million hectares due to Russia’s full-scale aggression.
“There used to be a very strong trend towards processing agricultural products, but unfortunately, it has now declined. We probably invested a lot in it, but now there is not as much raw material because we are losing our land,” he said.
The Agrotrade Group of Companies is a vertically integrated holding company covering the entire agro-industrial cycle (production, processing, storage, and trade in agricultural products). It cultivates over 70,000 hectares of land. Its main crops are sunflower, corn, winter wheat, soybeans, and rapeseed. It has its own network of elevators with a one-time storage capacity of 570,000 tons.
The group also produces hybrid seeds of corn, sunflower, barley, and winter wheat. In 2014, a seed plant with a capacity of 20,000 tons of seeds per year was built on the basis of the Kolos seed farm (Kharkiv region).
The founder of Agrotrade is Vsevolod Kozhemyako.
The Relocation project has analyzed and created a brief overview of the state of the office real estate market in Rome in the first half of 2025. Rome, while remaining the administrative and cultural center of Italy, is gradually strengthening its position as a business hub. However, the office real estate market here is traditionally different from Milan, the country’s main financial center: investor and tenant activity is lower, and the supply of modern offices is limited.
In the first half of 2025, the average rental rate for Class A offices in central Rome (EUR, Prati, and the historic center) was €31–34 per square meter per month, approximately 2% higher than last year.
Outside the center, in the Tiburtina, San Giovanni, and GRA areas, rates remain at €18–24 per square meter.
According to Cushman & Wakefield consultants, demand is primarily driven by government agencies, diplomatic missions, and companies in the energy and services sectors, while demand from international IT companies in Rome is significantly lower than in Milan.
The average purchase price of office real estate in Rome in 2025 ranges from €3,600 to €4,200 per square meter in central areas, while in the suburbs (EUR periphery, Aurelio, Appia Nuova), prices range from €2,000 to €2,600 per sq. m.
Investors are cautious: according to BNP Paribas Real Estate, investment in Rome’s office segment in the first six months of 2025 amounted to around €730 million, 8% less than a year earlier. The reason is a lack of new projects and high competition for quality properties.
Analysts at JLL Italy note that there is still strong interest in properties with improved energy efficiency in Rome: in 2025, almost 40% of transactions involved buildings with environmental certification. However, the supply of such offices is extremely limited.
CBRE Italy emphasizes that a significant portion of Rome’s offices are in need of modernization, which is holding back price growth. Interest in renovating old administrative buildings into modern offices remains, but the process is slower than in Milan.
In the second half of 2025, a moderate increase in rental rates is expected in the premium segment (up to +2-3%), especially in the EUR district, where large business centers and government agencies are concentrated. According to Knight Frank’s forecasts, sales prices will remain relatively stable, with possible growth in central areas due to a shortage of high-quality properties.
The medium-term outlook for Rome is linked to the development of redevelopment projects and growing interest in flexible office spaces. However, according to experts, the Italian capital will lag behind Milan in terms of growth in the coming years, with Milan remaining the main driver of the country’s office market.
The Relocation project has analyzed and produced a brief overview of the Madrid office real estate market in the first half of 2025. In the first half of 2025, Madrid confirmed its status as one of Southern Europe’s key business centers, remaining an attractive market for investors and tenants. Despite high inflation in the eurozone and ongoing geopolitical risks, the city’s office real estate market is showing moderate growth and maintaining a high level of activity in the premium segment.
The average rental rate for Class A offices in Madrid’s central business district (CBD) in June 2025 was €36-39 per sq. m per month, 3-4% higher than in the same period last year. In areas outside the CBD, including the Atocha and Chamartín districts, rates remain between €22 and €28 per sq. m.
The growth in rentals is mainly due to a shortage of high-quality modern space and increased demand from international companies in the IT, consulting, and finance sectors.
The average purchase price of office real estate in Madrid in the first half of 2025 was €4,200–4,800 per sq. m in central areas. In suburban areas (Alcobendas, Las Rosas, San Sebastián de los Reyes), prices range from €2,200 to €2,800 per sq m.
Deals with investment funds and REITs remain a key driver: in the first half of the year, several large office building renovation projects entered the market, and investment in the sector is estimated at €1.6–1.8 billion, 12% more than in the same period in 2024.
According to CBRE Spain analysts, companies are increasingly abandoning old spaces in favor of offices with energy efficiency certification (BREEAM, LEED). The share of such spaces in the transaction structure reached 45%, indicating growing interest in sustainable development.
Jones Lang LaSalle (JLL) notes that demand for coworking spaces and flexible office solutions in Madrid has grown by 15% compared to last year. This format is particularly popular among startups and branches of international corporations expanding their presence in Spain.
Office rental rates in Madrid are expected to continue their moderate growth of 2–3% in the second half of 2025, especially in the premium segment. According to Knight Frank experts, purchase prices will fluctuate within current levels, but investor interest will remain strong thanks to stable demand and limited supply of new space.
In the medium term, the Madrid market will remain a benchmark for investors in Southern Europe: its combination of high quality of life, developed infrastructure, and growing number of international companies makes it one of the most resilient office markets in the region.
Source: http://relocation.com.ua/madrid-office-real-estate-market-results-for-the-first-half-of-2025/
