The development of retail park projects in Ukrainian regions is economically viable and promising, CEO of Arricano Real Estate Plc, the managing company and developer of some shopping and entertainment centers in Ukraine, Mykhailo Merkulov has said. “In a city with a population of 300,000-400,000 people there is no need for a three-story mall with an area of 50,000 square meters. We need to build a retail park on one floor with a ground parking area and entrance from the street. This will save on air conditioning, fire safety, that, in the aggregate, it incurs large infrastructure costs. If you look at Poland, the Czech Republic, Hungary, Romania, Serbia, Slovakia, it works successfully there,” Merkulov said in an interview with Interfax-Ukraine.
According to him, Arricano plans to significantly increase the volume of the portfolio of development projects in the coming years.
“Now we do not ride off in all directions, as we have our clear goal for the coming years. However, I think that in three years we will increase capacity and increase the amount of development, if not 10 times, then at several times for sure. The company needs to reach a certain level of income in order to attract financing on completely different conditions. We have a clear plan and a clear strategy on how to achieve this,” Merkulov said.
RETAIL PARKS DEVELOPMENT IN UKRAINE IS PROMISING BUSINESS - EXPERT
