Arricano Real Estate PLC (Cyprus), a leading Ukrainian shopping center developer, paid UAH 81.6 million in taxes and fees to the budgets of all levels in the first half of 2024, and transferred more than UAH 2.5 million in charitable assistance, the company’s press service reports.
“Despite the pressure of law enforcement agencies on Arricano Real Estate PLC’s business in Ukraine in 2023-2024, the leading developer of shopping malls does not lose faith in justice and victory of Ukraine and continues to reinvest in the development of its four shopping malls, the restoration of the Sun Gallery shopping mall (after a missile attack) and the construction of the Lukianivka shopping mall, work in frontline cities, create jobs and pay taxes and fees to the state budget of Ukraine,” the company said in a release.
It is noted that the group’s companies continue to systematically support the Ukrainian defense forces and help the military, charities and public organizations. Since the beginning of the year, the amount of financial assistance has amounted to more than UAH 2.5 million.
Investments in the renovation of frontline shopping malls and the restoration of the Sun Gallery shopping mall, which was damaged by a missile attack on Kryvyi Rih in January 2024, have amounted to about UAH 51 million as of today. The release emphasizes that it took less than a month to reopen some of the stores and facilities of the Sun Gallery shopping mall. Currently, the shopping center has 74 operators, and this number continues to grow.
In the first half of the year, 84 stores and establishments with a total area of 25.4 thousand square meters were opened and renovated in Arricano shopping malls.
As reported, on June 17, 2024, at the request of the prosecutor of the Kyiv Regional Prosecutor’s Office, the investigating judge of the Solomianskyi District Court of Kyiv seized the accounts of Prisma Alpha LLC and Livoberezheinvest PrJSC, which manage CITY MALL (Zaporizhzhia) and RayON shopping mall. Later, on July 25, 2024, the Solomyansky District Court of Kyiv decided to cancel the arrest of the RayON shopping center imposed in October 2023, recognizing the prosecutor’s arguments as insufficient.
Arricano Real Estate Plc specializes in the construction of shopping malls and is one of the leading developers in the Ukrainian real estate market. The company owns and operates five shopping centers in the country with a total area of 147.6 thousand square meters: RayON and Prospekt in Kyiv, Sun Gallery in Kryvyi Rih, and City Mall in Zaporizhzhia. The company also owns 49.9% in Sky Mall (Kyiv) and land plots for further construction of three projects that are currently under design. The company is also engaged in the construction of the Lukianivka shopping center in Kyiv.
According to Opendatabot, Arricano Real Estate Plc’s revenue for 2023 amounted to UAH 36 million 155.9 thousand, which is 52.8% higher than in 2022, while net profit increased 2.28 times to UAH 7 million 167.7 thousand.
