Page 66 - UKRRptFeb21

9.1.4 ​Construction & Real estate sector news
Kyiv’s office vacancy rate grew to 12.5% in 2020, up from 9% in 2019​, reports NAI Ukraine, the commercial real estate consultancy. At the same time, rents dropped by an average of 20%: to $20-30 per square meter in class A offices and to $12-23 per square meter in class B offices. In addition to the recession, the market took two hits: the addition of 80,000 new square meters and a massive shift to remote working. Largely fuelled by IT companies, the volume of gross absorption – or total amount of office space leased in Kyiv -- amounted to 85,000 square meters.
9.1.5 ​Retail sector news
9.1.6​ Agriculture sector news
The first day after the January lockdown was lifted, about 300,000 shoppers visited Epicentre shopping centres around Ukraine – ​up 50% y/y, reports the Epicentre K press service. Best sellers were household chemicals and personal care products - up 170%. “The surge in trade in the first days is quite expected, because during the three weeks of lockdown we constantly received dissatisfied feedback from customers who were not able to buy the necessary goods,” said Vladimir Goncharov, deputy director general of Epicentre K, Ukraine’s largest retailer.
Farming profits jumped 48% y/y, to $2.1bn in 2020​, according to the Agrarian Economics Institute. Boosting the sector, profits from crop production grew by 55%. Livestock production was down. Winners were: sunflower producers – profits were $753mn; wheat – $678mn; corn – $425mn; canola – $235mn; and milk – $135mn. From 2016-2018, farming profits averaged $2.6bn. Losers were: egg producers down $175mn; cattle – $50mn; pigs -- $25mn; and chickens down $12.5mn.
66​ UKRAINE Country Report​ February 2021 ​ ​www.intellinews.com