With the onset of the full-scale invasion by the Russian Federation, Transcarpathia has transformed into one of the main points of internal migration. Uzhhorod, in particular, stands out as it has quickly become a hub of new business activity due to its proximity to the borders of the European Union and its developed infrastructure. The demand for commercial real estate in the city remains at a consistently high level, with the most successful properties having a vacancy rate of less than 3%. Spaces ranging from 50,000 to 300,000 square meters are in particularly high demand.
This is reported by Finway
Construction of Shopping Centers is Gaining Momentum
Against the backdrop of rising demand for commercial real estate, the shopping center segment in Uzhhorod is actively developing. During the war, the Pannonia Shopping Mall and the Bilochka Shopping Center opened their doors to visitors, and the GrushevSky Shopping Center is set to open soon. Among the largest projects currently under construction, the large regional project Nestoria Plaza, covering 32,000 square meters, and the Trade Plaza stand out. Some projects, such as the Ukraine Shopping Center and the second phase of the KORONA Shopping Center, remain unfinished. Additionally, Residents Mall, RiverVille Mall, Plaza Nova, and Retail Park are at the conceptual or excavation stage.
Expansion of Business Activity and the Arrival of International Brands
Until recently, all of Uzhhorod’s commercial infrastructure was concentrated in the historical center of the city. However, due to a shortage of commercial spaces and the rapid growth of new residential areas, the center of business activity is gradually shifting to the left bank part of the city. Leading international brands, including McDonald’s, KFC, Sinsay, Crop, LC Waikiki, Jysk, Spar, and others, are actively entering the Transcarpathian market.
“The demand for commercial real estate in the city is currently consistently high. The most successful properties demonstrate a vacancy rate of less than 3%. Spaces ranging from 50,000 to 300,000 square meters are particularly sought after.”