In the third quarter of 2025, significant changes occurred in the office real estate market in Ukraine: international companies from the defense industry emerged as the leading drivers of demand, displacing the traditionally strong IT sector from its top positions.
This is reported by Business • Media
Changes in Business Structure and Decline of the IT Sector
According to analytical data from UTG, the number of international company representations in Ukraine has gradually decreased in recent years. In 2021, this figure was 627 companies, while in 2025, only 616 remained. At the same time, there has been a decline in the weight of the IT industry in the country’s GDP structure: the sector’s share decreased from 5.42% in 2022 to 3.42% in 2024. The volume of IT service exports also significantly dropped — from $7.52 billion in 2022 to $6.38 billion in 2024.
“Currently, their number stands at 616, whereas in 2021 (before the full-scale war began), there were 627. There is also a decline in the share of the IT sector in GDP (from 5.42% in 2022 to 3.42% in 2024) and in the volume of IT service exports ($6.38 billion in 2024 compared to $7.52 billion in 2022).”
The Defense Sector Stimulates the Development of Office Infrastructure
Against the backdrop of the diminishing presence of IT companies in Ukraine, interest in the office real estate market from international defense industry giants is actively growing. The country is transforming into a platform for the implementation of innovative technologies and testing modern weapon systems. Global industry leaders, including Germany’s Rheinmetall and KMW, Turkey’s Baykar, America’s Northrop Grumman, Britain’s BAE Systems, as well as companies from Norway, Latvia, Denmark, France, Italy, Spain, Poland, and many other countries, are launching or planning to launch joint production facilities, factories, research centers, and administrative-office representations in Ukraine.
The involvement of international defense sector companies contributes to the creation of new jobs, the development of high-tech infrastructure, and enhances the attractiveness of the Ukrainian market for foreign capital. Offices of defense industry companies are becoming an important factor in stabilizing and growing the commercial real estate market in wartime conditions.