Business news from Ukraine

Business news from Ukraine

FIRST SHOPPING MALL CHERRY MALL IN VYSHNEVY NEAR KYIV TO OPEN IN APRIL – UTG

The first shopping mall, Cherry Mall, with a total area of 18,000 square meters in the town of Vyshneve in Kyiv region is to open in April 2019. Edelburg Development is the exclusive agent of the mall and developer of the project, while Fine Partners Invest is engaged in the construction of the facility, Kyiv-based UTG told Interfax-Ukraine. “Considering that the mall is located in a new, densely populated residential area where 85% of residents are families with children, we tried to think of its content so that you can easily combine shopping and sports, going to a restaurant and watching the premiere at the cinema,” Chief Commercial Officer of Edelburg Development Maryna Kravchenko said.
Project manager and partner of UTG Artem Neposedov estimates the attendance of the mall will be 15,000-18,000 people per day. “More than 25,000 people live in walking distance from the Cherry Mall shopping center. In addition, there are three public transport stops near the shopping and entertainment center, thanks to which the site’s coverage area includes almost all 75,000 residents of Vyshneve. Therefore, the expected attendance of the facility will be 15,000-18,000 people per day,” he said.
The rental area of the facility is 13,000 square meters, with 65% of the area already leased. In particular, the anchor tenant of the Cherry Mall will be the Sport Life fitness club with an area of 3,500 square meters. Its infrastructure includes dry and wet zones with three swimming pools. Its anchor tenants also include the five-hall Linia Kino cinema; the Fora food supermarket in the new concept (1,500 square meters), the Foxtrot electronics supermarket (740 square meters). The Cherry Mall will also house a children’s entertainment center with a climbing wall, rides and a children’s room. In addition to boutiques, shops and beauty salons, there will be a family restaurant and four cafes.
Edelburg Development was founded in 2007 with the participation of WBA Immo GmbH, an engineering company, foreign investment was raised. It is a representative of the international development group on the Ukrainian primary real estate market.
In particular, the company is engaged in the construction and implementation of integrated residential business-class projects and commercial real estate. The Fine Partners Invest group of companies has been operating in the residential and commercial real estate market since 2011.
Kyiv-based UTG was founded in 2001. Its core business is overall support for development projects. More than 100 real estate objects were opened with the participation of UTG, including Lavina Mall, New Way, Ocean Plaza, Gulliver, Piramida, and Komod (all based in Kyiv), Megamall (Vinnytsia), Most City Center (Dnipro), French Boulevard (Kharkiv), and Global.UA (Zhytomyr). UTG also operates in Russia, Belarus, Georgia, and Moldova.

, ,

UKRNAFTA BOOSTS OIL AND CONDENSATE PRODUCTION BY 4.4%

PJSC Ukrnafta boosted oil and gas condensate production in January 2019 by 4.4% compared to the same period last year, to 128,000 tonnes, while natural gas output grew by 7.4%, to 99 million cubic meters, the company’s press service has said.
“The increase in production is due to repairs to prospective wells and measures to intensify production, including perforating operations with the use of foreign-made systems with increased efficiency,” it said.
The company’s production in February continues to grow it said. So, as of February 14, the average daily production of oil and condensate was 4,200 tonnes vs. 4,100 tonnes in January 2019.
As reported, Ukrnafta in 2018 increased the production of crude oil and gas condensate by 5% (0.069 million tonnes) compared to 2017, to 1.448 million tonnes. Natural gas production in 2018 decreased by 2.3% (0.026 million cubic meters), to 1.082 billion cubic meters, production of liquefied gas fell by 5.2% (6,000 tonnes), to 110,000 tonnes.
Ukrnafta is the largest oil producing company in the country. NJSC Naftogaz Ukrainy owns 50% + one share of Ukrnafta, a group of companies associated with former shareholders of PrivatBank holds about 42% of its shares.

, ,

MYKOLAIV SEAPORT RAISES TRANSSHIPMENT BY 19%

Mykolaiv seaport in January 2019 increased cargo handling by 18.84% compared with January 2018, to 2.321 million tonnes.
According to the data of the Ukrainian Sea Ports authority, during this period the port increased the transshipment of exported cargo by 22.69%, to 1.78 million tonnes, imported cargo by 13.95%, to 491,970 tonnes, and coastal freight handling fell by 6.4%, to 47,330 tonnes. The port did not transship transit cargo.
In January 2019, the port cut the transshipment of liquid cargo by 1.12%, to 172,680 tonnes, increased dry bulk freight by 19.8%, to 1.838 million tonnes, packaged ones by 38.27%, to 310,770 tonnes.
As reported, Mykolaiv seaport in 2018 increased cargo handling by 24.09% compared with 2017, to 29.2 million tonnes.

, ,

ASKA INSURER PAYS OVER UAH 1.6 MLN TO AGRICULTURAL FIRM FOR APPLE HARVEST LOSS

ASKA insurance company (Kyiv) has paid UAH 1.635 million to an agricultural enterprise for the loss of apple harvest, the insurer has said in a press release.
According to the report, in July 2018, it rained with thunderstorms and hail in the territory of the insured gardens, a significant part of the apple harvest was damaged and lost.
“After the hail, a significant part of the apple harvest, which should be sold fresh, could only be handed over for processing. Another part of the fruit was completely destroyed. Deltafruit suffered significant losses,” Anton Ruban, the owner of the agricultural firm, said.
Three of the five insured sites were also affected. In the first two, due to hail, harvest quality deteriorated by 83-85%, and losses in both the quality and quantity were obtained in the third site.
“ASKA compensated for the loss of quality at the rate of UAH 5.6 per each kilogram of apples. The compensation cost for the lost amount is UAH 3.6 and UAH 9 per kilogram, respectively. These estimates are specified in the insurance contract and depend on the apple variety. On January 18, the client received 70% of the payment, the rest of the money was transferred in stages. We completed the settlement early February,” Corporate Insurance Director for ASKA Olena Shustur said.
ASKA said that this is the first case of such a large-scale payment in Ukraine related to damage to the harvest of fruit trees. The damage was caused by hail, secondary diseases due to hail, and most importantly, damage from the loss of commercial quality of fruits, which accounted for most of the damage, was also covered.

, , ,