November 26, 2024
RIEL Real Estate Corporation plans to implement new projects in Kyiv and Lviv with a total area of approximately 460,000 square meters. Rostyslav Melnyk, CEO of RIEL Real Estate Corporation, stated this in an interview with Forbes Ukraine.
“We went into the war with 600,000 square meters of housing in Kyiv and Lviv under construction. We have to complete the first stage of Nordica Residence and the third stage of Ok’Land. In Lviv, the volume is higher. Among the ongoing projects in Lviv, there are Riel City, Shengen, Companion, Veluka Brytaniia, America and Mistechko Pidzamche, we need to complete 84,000 square meters. We will complete the vast majority of them in 2025,” Melnyk said.
“Our upcoming projects in Lviv are Soho and BigBen residential complexes, and in Kyiv - Sister and Brother residential complexes. Approximately 230,000 square meters in Kyiv and almost the same amount in Lviv. In total, this is 7360 apartments,” he explained. ”Our current plan is to keep 100,000 square meters in development and sales in Kyiv and Lviv at the same time. Of these, there are projects that we will build for two years, and others for three years. We will adjust as the market changes.”
As previously reported, in 2023, RIEL Real Estate Corporation delivered a total of 3,209 apartments in eight residential complexes in Kyiv (55% of the total delivered apartments) and Lviv (45% of the total delivered apartments), ranking second in the developer ranking.
