Private joint-stock company Kyivmiskbud Holding (Kyiv), one of Ukraine’s largest construction corporations seeks to increase housing commissioning to 450,000 square meters in 2018, which would indicate a 50% growth against the 2017 level, Interfax-Ukraine reports.
“This year, we plan to commission 450,000 square meters of housing. Within the last five years, 2018 will be the record year in terms of the volume of commissioned space. Altogether, Kyivmiskbud commissioned more than 300,000 square meters in 2017,” President of Kyivmiskbud Ihor Kushnir said in an interview with Interfax-Ukraine.
According to Kushnir, Kyivmiskbud began construction of five new residential buildings last year.
Altogether, the corporation invested a total of $144.2 million in different projects in 2017.
We are going to start working on seven more facilities this year. I hope that in 2018 and in the following years after that, the investment levels will grow in an arithmetic progression,” Kushnir told.
According to him, in 2017, Kyivmiskbud raised housing sales by 10% in monetary terms compared to 2016, as well as by 15% in terms of square meters.
“Last year, the share of purchases using mortgages was 15%, and there were no mortgage contracts at all in 2016. Around 25-30% of buyers in 2017 paid in installments, while in 2016 this figure was a bit lower. This is linked to the fact that last year Kyivmiskbud commissioned a number of new facilities on the market, the term of installments for which is quite long , and also to the expansion of sales,” the corporation’s president said.
Kushnir also said that 10% of apartment purchases of Kyivmiskbud’s projects were corporate entities, while 90% were sold to individuals.
Kyivmiskbud was founded on the basis of the municipal construction corporation Kyivmiskbud in 1994 throught the merger of controlling stakes in 28 companies and other assets in its registered capital. It consists of 40 enterprises, in which it owns shares, along with six subsidiaries and 51 associated members.