Business news from Ukraine

RIVER MALL SHOPPING AND ENTERTAINMENT CENTER IN KYIV

Vilna Ukraine news agency LLC (Kyiv), owned by the former owners of Aval Bank, on August 8 opened the new River Mall shopping and entertainment center with a total area of 140,000 square meters at 12 Dniprovska Embankment in Darnytsky district of Kyiv.
According to Colliers International (Ukraine), an exclusive broker of the shopping and entertainment center, its concept was developed by the Archpassage Ukraine architectural group together with the international architectural company ChapmanTaylor.
The rental area of the mall is 64,000 square meters. The complex includes a shopping center (55,500 sq m), multi-level ground and underground parking lots for 1,550 cars, as well as a business center and an aqua park. The co-owner of the mall, Serhiy Vovchenko, earlier told Interfax-Ukraine the opening of the water park is planned for summer 2020.
The Planet Kino cinema with an IMAX hall began operating in River Mall on August 1.
River Mall consists of five levels: three on the ground, with shops, a cinema and a food court, and two underground with a parking lot and a supermarket.

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VACANCY RATE OF SHOPPING AND ENTERTAINMENT CENTERS MANAGED IN UKRAINE BY ARRICANO (CYPRUS) IS 0.1%

An average vacancy rate across portfolio of shopping and entertainment centers in Ukraine managed by the Arricano Real Estate Plc (Cyprus) is 0.1% through January-June of 2019, according to the company’s report on London Stock Exchange (LSE). “In the first half of 2019, the average vacancy rate of shopping malls in Kyiv is 5.5%, and in our shopping malls, Kyiv inclusive, this rate is several times less. Going into the second half of the year, Arricano has recorded the lowest vacancy rates since 2012. I believe this is a result of the systematic work, innovative approaches and competent management in recent times,” said Arricano CEO Mykhailo Merkulov.
In particular, for the first half of 2019, Sun Gallery (Kryvyi Rih) and City Mall (Zaporizhzhia) recorded a 100% occupancy, whilst the RayON and Prospekt shopping malls (both located in Kyiv), recorded vacancy rate of 0.08% and 0.17% respectively.
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.

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OSCHADBANK, UKREXIMBANK SELLING GULLIVER SHOPPING MALL FOR UAH 18 BLN

State-run Oschadbank and Ukreximbank have put rights of claim under a loan agreement with Kyiv-based Gulliver shopping mall’s mortgage up for sale through SETAM’s OpenMarket system for UAH 18.177 billion.
The lot includes a 1.14 ha plot of land on Kyiv’s Sportyvna Square, a trading and office complex with a parking lot with a total area of 151,800 square meters, a 0.11 ha plot of land for construction of a new trading and office complex, and 100% of corporate rights in the borrower’s charter capital, says an announcement posted on the trading platform.
The auction is scheduled for October 16. Bids are accepted until October 15.

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