Epicentr Group continues to invest in the development of all business areas and plans to complete the construction of five shopping and entertainment centers in different regions of Ukraine and a logistics complex in Khmelnytsky by the end of 2024.
“This year, we are planning to build five shopping and entertainment centers and a large logistics complex in Khmelnytsky. The timing of commissioning of these facilities will depend on a number of factors, but the company plans to complete their implementation by the end of 2024,” Epicenter K CEO Petro Mykhailyshyn said in an interview with Property Times.
According to him, the first stage of the complex in Khmelnytskyi will amount to 57 thousand square meters, and further expansion to 80 thousand square meters is planned.
According to Mr. Mykhailyshyn, Epicenter’s current retail projects include more than 1.5 million square meters of new retail space and the creation of more than 16 thousand jobs. The company’s future plans include the construction of new shopping malls in Lviv, Kyiv, Dnipro, Odesa, Zaporizhzhia and other cities, as well as the reform of outdated facilities.
In addition, the company intends to invest in other business areas, including energy. For example, Epicenter intends to purchase 1-6 MW gas-piston power plants to power its businesses and later shopping centers. As Mykhailyshyn told Forbes Ukraine, the total capacity of the gas generators will be about 100 MW, and the estimated investment in the project is estimated at UAH 2.2 billion.
The Epicenter Group is an omnichannel ecosystem that unites the Epicenter and Nova Liniya retail chains, the epicentrk.ua online store, the Epicenter-Agro agricultural holding, the Epicenter Ceramic Corporation ceramic tile production plants, the Osmoloda woodworking plant, and logistics facilities.
Before Russia’s full-scale invasion of Ukraine, the Epicenter chain included more than 80 shopping centers in all regions of the country. The war destroyed seven shopping centers in Mariupol, Nikopol, Bucha, Chernihiv, Kharkiv and Kherson (two). Another three sites (in Melitopol, Kramatorsk and Kharkiv) are out of operation due to the occupation of Ukrainian territories, shelling or proximity to the war zone. As of June 5, the group’s retail network comprised 71 stores under the Epicenter and Nova Liniya brands.
Despite the significant losses, the retailer continues to invest in the economy: in 2022-2023, the company invested over UAH 14.2 billion in various projects. In general, the Epicenter Group’s investment plan until 2030 envisages the development of projects in retail, manufacturing, agriculture, logistics, e-commerce, and energy for a total of approximately UAH 100 billion.
According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the members of Epicenter K LLC are Oleksandr Gerega (51.3%), Halyna Gerega (47.97%), and Tetiana Surzhyk (0.73%).
