Ukraine: Construction market

The Ukraine is an emerging market of 49 million people. It is the second largest country in Europe after Russia and has the second biggest economy among the former Soviet Union states. In terms of population, Ukraine ranks fifth in Europe after Germany, Italy, the UK and France.
The Ukraine has seen its GDP grow a rapid 9.3 per cent in the first nine months of 2001, up from 6 per cent last year. The real income of the population increased by 8.6 per cent.
The economic situation in Ukraine has improved dramatically over the last few years, and there is a booming construction and interiors market. The Ukraine’s recent economic growth was among the strongest in Eastern Europe with industrial production up 16.6 per cent in the first nine months of 2001.
The construction industry is at the forefront of this fast development: with 24 per cent growth in the first six months of 2001, it is one of the most successful to adapt to the free market. There are some disproportions in this process: while general construction was 11 per cent up in 2000, local production of building materials was lagging behind, 0.4 per cent down.
In Kiev allone 11 million m² of housing units are planned to be built in the next ten years. Entire streets are being reconstructed and new residential quarters built.
Source: ITE Group/Building Week Ukraine