KYIV. Dec 4 (Interfax-Ukraine) - The share of vacant A and B class offices in Kyiv in 2019 could drop to 5% amid the forecast of a low new supply and a growing demand from tenants, while the opening of a significant number of new large-scale projects will be announced in 2021, Managing Director of Colliers International (Ukraine) Oleksandr Nosachenko has said at a press conference at Interfax-Ukraine.

"We expect a fundamentally larger amount of new supply in 2021. A number of office market players and developers are starting to believe in this segment ... The Sky Towers business center [13 Peremohy Avenue, the rentable area is 150,000 sq m] will be the largest project [in Kyiv]. Against the background of other developers' plans for the development of new office buildings in 2021, a large number of new square meters could be commissioned in the market," he said.

According to Nosachenko, this might significantly influence the market, in particular, exert pressure on rental rates in other office facilities in Kyiv.

According to a company press release, low volumes of new supply in 2019, a partial occupancy of facilities being under construction, as well as a growing demand from tenants and office buyers are likely to ensure a further reduction in vacancy to 5%.

According to Colliers, in the first half of 2019 some 50,000 square meters of new office space could be commissioned in the market. In particular, an office building with a rental area of 12,000 square meters at 54 Haidara Street and the Wave Tower business center with a rental area of 22,000 square meters at 9 Bandery Avenue are to be put in operation.