Arricano invests $84 mln in Lukianivka shopping center
The developer of shopping and entertainment complexes Arricano Real Estate Plc continues to invest in the restoration of the Soniachna Halereya (Sun Gallery) shopping and entertainment complex in Kryvy Rih and the construction of the Lukianivka shopping and entertainment complex in Kyiv, said head of the board of directors of Arricano Margus Kurm in an interview with the Interfax-Ukraine agency.
“We have not stopped any of our activities. We are going to invest both in Kryvy Rih to renovate our property, and in the construction of the Lukianivka shopping and entertainment complex and in other planned projects,” Kurm assured.
As reported, the building of the Soniachna Halereya shopping center was damaged on January 8, 2024 due to a Russian missile attack. According to experts, repair work will cost more than UAH 30 million. Arricano has already invested UAH 17.5 million and needs to invest more in order to completely restore the shopping center.
According to Kurm, the total budget of the Lukianivka shopping and entertainment complex is approximately $145 million, at the moment, the company has invested $84 million.
“This means that additional investment is required to complete the project. And we need to attract some financial institutions to lend for this project. So, the completion of this project mainly depends on how quickly we can stop the actual raiding of our other assets,” Kurm explained.
As reported, over all the years of work on the Ukrainian market, Arricano has invested more than $600 million in the Ukrainian economy and continues to invest.
Arricano Real Estate Plc (Cyprus) specializes in the construction of shopping and entertainment centers and is one of the leading developers in the Ukrainian real estate market. It owns and manages five shopping centers in the country with a total area of 147,600 square meters, including RayON and Prospekt in Kyiv, Sun Gallery in Kryvy Rih, and City Mall in Zaporizhia. The company also owns 49.9% in the Sky Mall shopping center (Kyiv) and land plots for the further construction of three facilities that are at the design stage. The company is also constructing the Kyiv shopping and entertainment complex Lukianivka.