Fitch Rates City of Kharkov 'AA-(ukr)', Affirms 'B+' Ratings
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Fitch Ratings-London/Warsaw/Moscow- 8 June 2007: Fitch Ratings has today
assigned the City of Kharkov a National Long-term rating of 'AA-(minus)(ukr)'.
Its International Long-term foreign and local currency ratings are affirmed at
'B+' and Short-term foreign currency rating at 'B'. The Outlooks on the
International and National Long-term ratings are Stable.
Kiev, Ukraine -- According to...
property prices have risen rapidly in the past 3 years, fueled by an influx of
people and a shortage of apartments and office space. Residential property prices
have risen to $2,600 a square meter
in 2006 from $360 in mid-2002. In Eastern Europe, Kiev has become second most
expensive office space market (after Moscow). Occupancy cost per employee in
Kiev is greater then in cities like Prague, Budapest, Warsaw, Hague and Boston
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With their increasing number of new shopping malls and business centers,
Ukraine's regional centers outperformed Kyiv in terms of market growth in 2005.
Kharkiv ranks third behind Kyiv and Yalta in terms of commercial real estate
prices, with office space going for $800-2,500 per square meter in the city
center.
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Currently, METRO Cash & Carry Ukraine operates eight wholesale stores in
Kyiv (Teremky, Pozniaky and Petrivka districts), Kharkiv, Dnipropetrovsk,
Odessa, Donetsk and Lviv. Total investment in development of the chain in
Ukraine exceeds UAH 1 billion creating over 3 thousand jobs.
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