The first phase of M10 Lviv Industrial Park in Lviv, a Class A warehouse complex covering an area of 14,400 square meters, has been completed and leased to Aurora Multimarket.
To mark this occasion, on May 7, 2024, Dragon Capital organized a special business event, attended by Lviv Mayor Andriy Sadovyi, First Deputy Chairman of the Lviv Regional Military Administration Andriy Hodyk, CEO of Dragon Capital Tomas Fiala as well as other officials and representatives of the Ukrainian business community.
Andriy Sadovyi emphasized in his remarks the importance of this project for the region. "Firstly, it's about jobs, people will have employment, and this is important, and secondly, it's about taxes. Today, Ukraine desperately needs resources to defend itself, to support our Armed Forces, so anything related to economic independence is our priority. When you come here in a month, there will be life, there will be jobs, people, and dynamics here. Today we see only the first phase of 14,000 square meters, but in total, 140,000 square meters will be built. The investment in the project has already reached UAH 400 million, plus insurance. Today, Tomas Fiala, a Czech by nationality, is a much greater patriot than many people who talk about patriotism," said Andriy Sadovyi.
Maxym Kozytskyi, head of the Lviv Regional Military Administration, said, “The successful launch of the first phase of the large-scale project M10 Lviv Industrial Park marks an important investment in the development of the Lviv region. It will create new jobs, thereby contributing to higher employment in the region. In addition, it will bring extra budget revenue on all levels, supporting the region's economy in wartime.”
Aurora Multimarket currently operates 13 Aurora stores in Lviv. In November 2023, the company opened a new distribution center in the city, covering an area of more than 7,000 square meters and providing over 300 jobs.
“M10 Lviv Industrial Park is a modern logistics complex built during full-scale war in Ukraine, symbolizing the inevitability of Ukraine’s business success. The fact that Aurora Multimarket is opening its second logistics center in Lviv, creating hundreds of new jobs with official employment and competitive salaries comparable with European levels, is a powerful signal that Ukraine will endure and prevail!
Our partners in the Lviv region include over a hundred manufacturing companies. We are glad to be closer. My thanks to the community, partners, local and state authorities, and primarily to the Ukrainian Defense Forces," commented Taras Panasenko, CEO of Aurora Multimarket.
Tomas Fiala spoke about Dragon Capital’s plans for the industrial park business: “The fact that the first phase of M10 has been fully leased to a Ukrainian retail company is proof that the Ukrainian business is resilient and developing despite wartime conditions. Currently, there is high demand in our country for logistics and industrial real estate of entirely different quality, namely the development of industrial parks with in-house infrastructure, high standard of service and energy-saving technologies.
The EBRD, our foreign partner, is ready to invest in projects like M10 Lviv Industrial Park. And Dragon Capital, as the owner of one of the largest logistics real estate portfolios in Ukraine, will continue to develop this business.”
The M10 Lviv Industrial Park area will accommodate five additional phases comprising modern logistics and production facilities. Its developer offers prospective tenants build-to-suit arrangements to create customized facilities, ensures fast construction and connection to necessary utilities, and maintains common infrastructure and services for all tenants.
More about M10 Lviv Industrial Park: https://m10.com.ua/
M10 Lviv Industrial Park is a new industrial park actively developed by Dragon Capital in the industrial zone of Lviv's Ryasne-2 microdistrict, near the M10 international highway, just 60 km from the border with Poland. The European Bank for Reconstruction and Development (EBRD) will invest up to 35% of the cost of M10 Lviv Industrial Park, or up to $24.5 million, of which $5.5 million has already been allocated to finance the completion of the first phase of the project. In September 2023, the Multilateral Investment Guarantee Agency (MIGA) of the World Bank provided a 10-year guarantee to M10 Lviv Industrial Park. The guarantee in the amount of $9.2 million covers the risks of physical destruction of the object due to hostile shelling and/or loss of control over it.
About Aurora Multimarket:
The Aurora Multimarket store chain was founded in 2011 and is currently the leader in the Ukrainian "one dollar store" format. Aurora is a national company with direct foreign investments from the Horizon Capital fund.
About Dragon Capital:
Dragon Capital is one of the largest groups of companies in Ukraine, operating in the investment and financial services sector since 2000, providing a full range of investment banking and brokerage services, direct investments, and asset management. The company has over 20 years of successful experience in direct investments in various sectors of the Ukrainian economy, including real estate.
Dragon Capital Property Management manages the company's portfolio of residential and commercial real estate comprising close to 30 properties, which makes it one of the largest players in the Ukrainian real estate market.
