Rising demand for retail spaces in Kyiv shopping malls leads to declining vacancy rates
In Kyiv, there is a noticeable increase in demand for retail and entertainment spaces, resulting in a significant reduction in vacancy rates across shopping malls (SMs).
Experts report that in the latter half of this year, the amount of free square meters in the best malls of the city has decreased to minimal levels — on average, the share of vacant spaces does not exceed 7–13%, with some projects, especially those actively focused on tenant-mix optimization, showing even lower figures.
For example, Kyiv’s Lavina Mall has not shown vacancy levels for the past two years, maintaining steady foot traffic of around 1.5 million visitors per month.
Similarly, River Mall remains largely filled with minimal empty areas.
However, in less modern or regional shopping centers larger than 50,000 square meters, such as Blockbuster, Promenada Center, Atmosfera, and Marmelad, the average vacancy rate remains significantly higher at over 16%.
This is due to these venues’ insufficient adaptation to evolving consumer demands.
Notably, Kyiv’s Blockbuster, which was relaunched after closure at the start of the war, has one of the highest vacancy rates at about 30%, though this is an improvement from the 50% recorded in 2024.
Overall, the shrinking of available retail spaces in leading malls indicates a recovery in the commercial real estate market in the capital and regions, which positively impacts economic stability in the sector.