Business news from Ukraine


JSC Kyiv River Port increased its net profit by 5.34 times in 2019 compared to 2018, to UAH 37.989 million.
This data is contained on the agenda of a meeting of shareholders scheduled for April 28, the materials of which are released in the information disclosure system of the National Securities and Stock Market Commission.
Net worth of the company is UAH 37.299 million and charter capital is UAH 17.25 million.
Total receivables increased by 34.1%, to UAH 33.353 million for the year.
The company’s assets as of December 31, 2019 increased by 26.4%, to UAH 106.566 million (UAH 84.328 million in 2018).
Kyiv River Port has more than 1,500 meters of cargo berths equipped with modern handling facilities. The port is equipped with hydraulic structures, special devices for parking, handling and navigational services of the fleet, coastal facilities, repair shops.

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Kyiv City Council at an extraordinary meeting on Thursday, March 26, established a 50% discount for small and medium-sized enterprises (SME) to pay lease of municipal property due to quarantine measures.
“We promised and found a mechanism to reduce financial burden on small and medium-sized businesses operating in the capital, and which is most vulnerable in this difficult time for the city and the country. Small and medium-sized businesses will get the right to these benefits starting March 11,” the press service of Kyiv City State Administration said, citing Kyiv Mayor Vitali Klitschko.
According to the statement, by the end of July 2020, entrepreneurs are provided with a 50% discount on the payment of communal property leases, and if the property cannot be used, tenants are also exempted from the lease payment until July 31.
According to Kyiv City State Administration, about 900,000 square meters of non-residential communal property are leased in the capital, most of which are rented by about 6,000 small and medium-sized entrepreneurs.

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On March, 14 and 15 the «Kyivan Rus Park» invites to a new program «Warriors of Light». Horse-trick performances and spectacular performances, Slavic amusements and round dances, interesting games and funs will be waiting for the guests. And also: riding purebred horses, tasty dishes prepared on open fire and hot drinks, master-classes, zip-lines, museums, and expositions. And all of these in a real living medieval town!
Ancient Kyiv opens at 10:00. The program starts at 13:30.
The ticket price: a full adult ticket – 200 UAH, for pensioners and students – 150 UAH, for schoolchildren – 80 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Details on the website
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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Amid growing new supply the share of vacant space on the office real estate market in Kyi grew by 4.2 percentage points (pp) in 2019 compared with 2018, to 8.5%, CBRE Ukraine consulting company (Kyiv) has said in a press release. “The highest vacancy rate was recorded in areas with a non-center location (19.2%), due to the Sigma and Wave Tower business centers went live in 2019, which remained unfilled by the end of the year. The Pechersky district had the lowest vacancy rate (2.7%), where in 2019 new areas were not presented to the market,” the report says.
According to the experts, the rental rate for the best office premises increased 8% and by the end of the year amounted to $27 per sq. m. a month, which is associated with a limited supply of quality space.
“In the available class A office space, the declared rental rates varied in the range of $26- $45 per sq. m a month in the fourth quarter, and class B rental rates ranged $14- $30 per sq. m. a month. The significant gap between the lower and upper limits of the range is due to the characteristics of the rental space and the location of an office center, which are the main factors determining the high level of rental rates,” CBRE Ukraine said.



New supply on the office real estate market in Kyiv in 2019 was around 100,000 square meters and record-hitting 255,000 square meters of areas are announced to go live in 2020
“Over the past four years, the Business Expectations Index in construction has grown significantly (137.9 points) and has broken an eight-year record. Thus, the new supply almost doubled compared to 2018 and amounted to about 100,000 square meters, and the total supply of office space in Kyiv amounted to 1.8 million square meters,” CBRE Ukraine (Kyiv), the consulting company, said in a press release.
According to developers’ announcements, in 2020 a record number of areas should enter the market – about 255,000 square meters. Moreover, in 2021 an additional 250,000 square meters is expected to go live and in 2022 some 250,000-300,000 square meters.
“The shortage of quality space in Kyiv resumed the activities of developers, as evidenced by an increase in the volume of new supply by 70% year-over-year in 2019. Despite such a sharp increase in the volume of new space, it is expected that the bulk of it will be absorbed by IT and the flexible office segment, due to pent-up demand for large quality areas,” CBRE Ukraine said.
Thus, the average vacancy rate is likely to remain at the same level or show a slight increase in the best areas on the market.
“If in the next two to three years, demand will correspond to the supply, then significant fluctuations in rental rates are not expected,” CBRE Ukraine said.

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The volume of gross occupancy of office real estate in Kyiv in 2019 increased by 17% compared to 2018, to 170,000 square meters, which is a record for the past 11 years (since 2007), according to CBRE Ukraine international consulting company (Kyiv).
“The macroeconomic situation in Ukraine improved significantly in 2019, despite the political uncertainty surrounding the elections. The volume of real GDP showed a positive trend with an indicator of plus 3.3% year-on-year in 2019 (according to preliminary data from the NBU). The Business Expectations Index for the 12 months decreased by 7.9 percentage points, to 118.7 as of the fourth quarter of 2019. However, with a decrease in unemployment by 0.4 percentage points year-on-year and the rapid growth of the IT cluster (approximately more by 20% in 2019), the demand for office space continued to grow,” the report says.
According to the company, a significant share in the structure of gross absorption (44%) was made by IT and telecommunications companies (more by 4%). Companies engaged in manufacturing, industry and energy ranked second with a 25% share.
“The growth in demand by IT sector companies over the past five years is explained not only by the rapid development of industry in Ukraine, but also by the specifics of the industry companies. Most IT professionals provide services to international companies on the terms of outsourcing or out-staffing and are mainly involved in temporary projects, which determines the mobility of workers, requires flexibility in office space and expands the demand for co-working,” CBRE said.
Thus, the segment of co-working and full-service offices amounted to 12% of the gross absorption structure. The rest in the structure were represented by companies from the financial sector and banks (9%), the FMCG sector (3%) and other segments, which together accounted for 7% of the total gross absorption.