06/08 12:30 Round table: Construction Market Prospects - EBA Kharkiv Branch

took place at Maydan Svobody Press-Centre with the EBA information support. CEOs of Avantazh, Development and Investment Holding Company, the EBA member, presented their views on the current situation in Ukrainian construction market and answered the questions.

Mr Kostoglodov, the Head of the Board of Directors, stressed that the rumors concerning the collapse of real estate market were exaggerated. In the first half of 2008 the decrease in turnover of Ukrainian construction companies was 1.1 %. Although it’s obvious that the industry is together with the entire Ukrainian economy is suffering the same macroeconomic problems like inflation, revaluation of hryvnia, etc.

Mr Denisenko, President of the company, forecast the following changes on the market: “Big construction companies will cope with the temporary obstacles but small ones can be forced to leave the market. The situation will become more stable in autumn when the “sale season” starts. The prices for square meter will not decrease due to a price hike for construction materials and energy.”