The opening of new shopping centers is being postponed in Kyiv - there are few tenants
Kyiv, June 12 (Navigator, Denis Andreev) – In 2014, the total area of the capital’s shopping centers was supposed to exceed 1 million square meters, writes Korrespondent magazine. But the difficult situation in the Ukrainian economy is forcing businessmen to freeze construction projects or postpone the completion of projects.
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The country's largest shopping and entertainment center “Respublika” (298 thousand sq. m) will open not in November 2014, as previously planned, but only in March 2015. The reason is cautious tenants who are afraid of shootings in the country.
The opening of other shopping centers - Blockbuster Mall and Lavina Mall - has also been postponed to 2015. The construction of Happy Mall is completely frozen at the foundation stage. The developer decided to make changes to the project - to reduce the retail part and increase the entertainment part.
In total, instead of the 415 thousand sq. m of retail and entertainment space planned for this year, only 70,6 sq. m will open. These are the Atmosphere, which has already begun work, and the Prospekt shopping center. Such changes in developers' plans mean a drop in the capital's commercial real estate market by 37% compared to last year.
Kyiv postpones opening of new shopping centers due to lack of tenants