The full-scale war has dramatically changed the balance in the Ukrainian office market. Whereas before 2022, companies were competing for prestigious business centres near the metro and with modern architecture, now the determining factor is the ability of a building to operate autonomously and ensure employee safety. These observations in the blog shared Roksolana Pyrtko, commercial real estate expert and manager of Roksolana shopping mall and Spartak shopping centre in Lviv. About. fakty.ua writes..
"Another feature is the change in selection criteria. Whereas previously prestige, architecture and proximity to the metro were decisive, these factors are now only part of the equation. The focus is on shelter, backup power supply, stable internet, and building autonomy", - emphasises Roksolana Pyrtko.
Roksolana Pyrtko gives examples of its own facilities that are experiencing the crisis in different ways: "About 20% of office space in Spartak has not yet been delivered, and the second phase of construction has been suspended until the end of martial law. In contrast, only about 10% of office space remains unoccupied in Roksolana shopping centre. We have maintained stability through timely investments in generator sets, which allowed our tenants to operate without interruption even in difficult conditions."
At the same time, the expert emphasises that the market continues to be pressured by factors directly related to the war. "The occupancy rate is significantly affected by the mobilisation activity of the TCC, the reduction in the number of foreign orders from IT companies and problems with finding full-time employees. These factors limit the market's capacity and make it unstable, despite domestic investment and support measures."Roksolana Pirtko concludes.
