Global real estate company DTZ is reporting that despite low development activity in the logistics property sector in the Greater Kyiv area, the market-wide vacancy increased to 12.1% at the end of the first half of 2015 due to suppressed business dynamics in Ukraine.
In late June 2015, total stock of modern warehousing and logistics space in the Greater Kyiv area amounted to around 1,778,000 sq m (GLA). This figure includes approximately 340,140 sq m (GLA) of modern specialized chilled & frozen and chemical warehousing facilities.
Overall development activity in the warehousing and logistics property sector in the Greater Kyiv area remains low.
The cumulative new supply on the logistics property market in the Greater Kyiv area in first half of 2015 reached approximately 62,000 sq m (GLA) compared to 127,000 sq m (GLA) of logistics space delivered during the first six months of 2014.
In January-June 2015, the warehouse complex FM Logistic (phase 2), logistics complex by Epicenter and warehouse complex by Imperial Tobacco were commissioned in the Greater Kyiv area, all developed primarily for owner-occupation purposes.
In the Greater Kyiv area the majority of warehousing and logistics properties are located along Kyiv-Zhytomyr Highway (M-06), and in the location known as Kyiv-Moscow Highway (M-01) and Brovary-Boryspil Ring Road.