The highest rent rates in Donetsk did not change in 2011, and remain at $780 per square meter a year, and the city has the second highest rent rates in Ukraine after Kyiv, reads a press release of Jones Lang LaSalle Ukraine (JLL).
JLL said that in 2011, only one high-quality facility was commissioned in Donetsk – the second phase of the Donetsk-City trade and entertainment center with a gross leasing area of 25,000 square meters. The total volume of high-quality retail space in the city as of late 2011 came to 222,000 square meters or 230 square meters per 1,000 residents.
The shopping malls in Donetsk are mainly located downtown – in Voroshylovsky and Kyivsky districts.
"Demand for modern retail space is gradually growing. Many international brands that have come to Kyiv are planning to enter the market in Donetsk. However, the shortage of high-quality shopping malls is the main barrier to the entry of international operators. At present, the vacancy share is around 7%. Due to small supply and growing demand, the vacancy rate will fall in 2012," the company’s experts said.
An analyst from the research department, Regina Umiarova, said that Donetsk is one of the most promising cities for development in the eastern part of the country, which is mainly linked to the rather restricted volume of promising supply.
Among the promising projects that will be commissioned in the next two years is the Southern Hills trade center with a gross leasing area of 13,000 square meters, and the City Park trade and entertainment center, with a gross leasing area of 50,000 square meters.
JLL also said that local developers dominate in Donetsk – Domus, Amstor and ESTA Holding.
Jones Lang LaSalle is a financial and professional services firm specializing in real estate services and investment management. It has over 200 representative offices in more than 1,000 locations in 70 countries. Its turnover in 2010 was $2.9 billion and in 2011 it stood at $3.6 billion.
Its portfolio includes almost 195 million square meters of property all over the world.
The LaSalle Investment Management division manages assets worth over $47.7 billion.
In Russia and the CIS, Jones Lang LaSalle has offices in Moscow, St. Petersburg and Kyiv.
