In 2023-2024, the Ukrainian construction market demonstrated positive dynamics, made possible by the growth of economic activity in the central and western regions. Important factors also included the restoration of war-damaged infrastructure and energy facility protection programs. However, market volumes still remain nearly 50% lower than in the pre-war year of 2021.
This is reported by Business • Media
Growth of Non-Residential Construction
Among all market segments, non-residential construction showed the highest dynamics last year. In 2024, the construction of logistics, commercial, and industrial properties, as well as hotels, has intensified. The commissioning of industrial buildings and warehouses last year increased by 16% compared to 2023, reaching 987,000 square meters. This is only 12% lower than the pre-war figures of 2021.
Factors Influencing Real Estate Demand
Drivers of demand for non-residential construction include developers of warehouse and hotel properties, retail chains, food industry companies, machine engineering, as well as the agro-processing sector and building material manufacturers.
One of the main reasons for the significant growth of the industrial real estate market is the relocation of Ukrainian and foreign enterprises to the central and western regions of Ukraine.