On the first of the quarantine easing on May 11, nearly 90% of the outlets who got permission to work (except for entertainment and public foodservice areas) opened all over Ukraine, except for Kyiv, Lviv and Chernivtsi region.
“Since May 11, all stores in the shopping centers in Ukraine can operate in all cities except for Kyiv, Lviv and Chernivtsi region.The work of the outlets that do not sell clothes and shoes is permitted in Lviv trade center. Attendance on May 11 was expectedly low. As previously expected, attendance drop rate in the different objects can reach 25-50%. Such indicators have already been demonstrated by the shopping centers in countries where they opened earlier,” Head of Council of Shopping Centers of Ukraine and Chief Operation Officer of the Budhouse Group Maksym Havriushyn said.
According to him, nearly 90% of the outlets, who got permission to work (except for entertainment and public foodservice), opened in the Ukrainian shopping malls. A number of 95% areas and 93% of the outlets among those authorized to work opened in the shopping centers of Budhouse Group (Fabrika in Kherson, Liubava in Cherkasy, and Forum in Lviv).
“Thus, taking into account the areas, which are not permitted to work as for now, 63% of the areas and 80% leaseholders function in our trade centers. Except for Forum Lviv trade center, where 32% of the areas work now,” he said.
He said attendance rate in the shopping mall of Budhouse Group was falling by 25% compared to 2019.
“Attendance in Forum Lviv trade center almost remains at the same level that was before May 11. It is too early to talk about the turnover of stores in our shopping centers on the first day, but some leaseholders note a high conversion and the average check is higher than usual,” he added.
Cypriot Dragon Capital Investments Limited is going to acquire shares of Arricano Real Estate Plc developer’s Cypriot subsidies: Museo Holdings Limited and Sunloop Co limited, which would grant over 50% of the votes in the management body of the companies. According to an agenda of the Antimonopoly Committee of Ukraine (AMCU), the regulator will consider the issue of granting permission for the transaction at a meeting on September 12.
As reported, Arricano Real Estate Plc (Cyprus), managing company and developer of shopping and entertainment malls in Ukraine, is going to sell two its properties: Sun Gallery Mall in Kryvyi Rih (Dnipropetrovsk region) and City Mall in Zaporizhia.
According to the developer, Sun Gallery is currently held in Arricano’s subsidiary, PrJSC Ukrpangroup, a Ukrainian subsidiary of Museo Holdings Limited and City Mall is currently held in in Arricano’s subsidiary, Pryzma Alfa LLC, aUkrainian subsidiary of Sunloop Co Limited.
Arricano is one of the leading real estate developers of shopping centers in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.
Arricano Real Estate Plc (Cyprus), managing company and developer of shopping and entertainment malls in Ukraine, is going to sell two its properties: Sun Gallery Mall in Kryvyi Rih (Dnipropetrovsk region) and City Mall in Zaporizhia.
“Arricano is pleased to announce it has entered into negotiations to sell two of its properties in its property portfolio, Sun Gallery (located in Kryvyi Rih, Ukraine) and City Mall (located in Zaporizhzhia, Ukraine),” reads an announcement of the company posted on London Stock Exchange (LSE) on July 31.
The developer said it has entered into non-binding heads of terms with Dragon Capital Investments Limited and with other parties in relation to such sale.
“A sale of the properties is a part of Arricano Real Estate PLC global strategy, due to which received funds will be meant for the development of portfolio and strengthening of the company’s positions,” Arricano CEO Mykhailo Merkulov told Interfax-Ukraine.
According to the developer, Sun Gallery is currently held in Arricano’s subsidiary, PrJSC Ukrpangroup, a Ukrainian subsidiary of Museo Holdings Limited and City Mall is currently held in in Arricano’s subsidiary, Pryzma Alfa LLC, aUkrainian subsidiary of Sunloop Co Limited.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.
