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.