Ukrainian construction is starting to grow. “We are open to cooperation”

Ukrainian construction is starting to grow.  "We are open to cooperation"

The development industry in Ukraine is growing and needs investors. – I have good news for you, despite the war, there is still a market in our sector. And this year it is definitely improving – said Serhiy Pypypenko, general director of ICG Kovalska, during the ongoing conference in Warsaw on the reconstruction of Ukraine.

Last year, the construction market in Ukraine decreased by 70 percent. In this, however, he began to record some increases, which allows us to hope that he will develop in the near future. – I have good news for you, despite the war, there is still a market in our sector. And this year it is definitely improving – said Serhiy Pylypenko, general director of ICG Kovalska, one of the leading Ukrainian development companies.

Demand for apartments

As Pylypenko said during the Europe-Poland-Ukraine Rebuild Together conference, around 3 million families lost their homes during the war. 2.5 million residential buildings were destroyed. New investments are needed now, but the greatest demand will come at the end of the war.

– After the war, we will need all kinds of materials, reinforced doors, concrete, reinforced concrete, glass, prefabricated structures. we don’t even have such production capacity at the moment. There will be a shortage of such raw materials on the market. That is why I encourage Polish companies to look at this market and look for opportunities. We are open to cooperation and we want to rebuild Ukraine so that it is better than before, he said.

– In addition to the buildings, the technological facilities were also destroyed, and this sometimes remembered the previous era. We have a chance to create something better and modern, he added, appealing to Polish entrepreneurs to join the joint reconstruction of the country after the war.

A chance for Polish business

Polish companies, although often present on the Ukrainian market, have a chance to participate in the reconstruction of the country. War damage is estimated at half a trillion dollars. Many industries already need investors, because although the war is not over yet, the country has to function somehow.

– The reconstruction of Ukraine is not only about large infrastructural and energy projects, it is about the ongoing reconstruction of critical infrastructure necessary for everyday life, such as hospitals and shopping centers. It is also a rebuilding of the supply chain. As a result of the disappearance of entities from Russia in Ukraine, a gap was created in which Polish entrepreneurs entered – said Jan Sarnowski, member of the management board of Korporacja Ubezpieczeń Kredytów Eksportowych.

Investment financing

The Ukrainian market is currently very absorptive. As Serhiy Tsivkach, Executive Director of UkraineInvest, said during the conference, conditions are also improving, because although the economy has achieved 30 percent. a decrease since the beginning of the war, recently it has been increasing.

– We knew that we had to stand shoulder to shoulder with our customers who had to find their way in this difficult situation. Let us remember that there was also Russian capital operating in Ukraine, which will certainly not return – said Adam Świrski, member of the management board of the PKO JSC Kredobank group, a Polish bank operating in Ukraine, providing financing for, among others, investors from Poland.

“At the next stage, we started looking for opportunities to support growth. Why we started to cooperate with international institutions, and we will continue to want to support potential new investments, which will come mainly from Poland. We want to support Polish investors, including smaller ones. At first, investors will look for smaller trades, then increase them. We know how to do it, we have a lot of experience – he added.

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