February 20, 2026
The European housing market is undergoing structural changes: prices are rising faster than incomes, rents are increasing, and new construction is slowing down.
During the Global Real Estate Summit in London, participants discussed new approaches to urban development, the revitalization of industrial areas, and financing models for affordable housing. RIEL was represented at the forum by the company’s CFO, Viktoria Gordiychuk.
For us, this trip is not just about making a token appearance at an international event. It is systematic engagement with the professional community, deepening dialogue with potential partners, and understanding where the European market is headed.
As RIEL CFO Viktoria Gordiychuk notes, the key insight from the forum is a shift in focus from urban expansion to reimagining existing areas.
Brownfield Sites as a Solution to Land Scarcity
In major European cities, the scarcity of land is becoming a systemic barrier to development. Regulatory restrictions, high-density development, and the preservation of green spaces limit opportunities for new construction. That is why an increasing number of projects are being implemented through the revitalization of industrial sites.
Notable examples include King’s Cross in London and the EUREF Campus in Berlin. Former industrial zones are being transformed into mixed-use urban spaces featuring housing, offices, services, and public amenities.
“It’s not just about new square footage. It’s about creating self-sufficient neighborhoods with jobs, services, and transportation integration. This is the model of a compact city,” emphasizes Viktoria Gordiychuk.
The Ukrainian Context
For Ukrainian cities, this approach is particularly relevant. In Kyiv and Lviv, a significant number of industrial areas have lost their original function but retain strategic locations and infrastructure potential.
We have been working with this format for several years. In Lviv, an example of redevelopment is the Big Ben project—the transformation of an industrial area into a modern residential space with a commercial component.
A similar logic underlies the revitalization of the Pidzamche district, where we have been implementing “Mistechko Pidzamche” since 2019 and will launch the Father residential complex in 2025. This involves not only housing construction but also the phased development of a new urban quarter.
In 2026, we plan to present another large-scale project in this area—the comprehensive transformation of an industrial zone into a mixed-use urban space with residential, business, and recreational functions.
Affordable Housing and New Financial Models
Another key focus of the forum is alternative housing financing mechanisms. In Europe, partnerships between developers and institutional investors are actively developing, private capital is being channeled into the affordable housing sector, and rent-to-own models are being discussed as an alternative to traditional mortgages.
“For Ukraine, the key will be establishing a sustainable model for affordable housing. This is impossible without partnerships with international financial institutions and private investors. Post-war reconstruction will require not only resources but also the right structural decisions,” concludes Viktoria Gordiychuk.
Participating in international forums is part of our long-term strategy. We are integrating European approaches to redevelopment and affordable housing into the Ukrainian context, focusing not only on construction but also on the systemic transformation of the urban environment.
