Arricano Real Estate PLC Phase II of South Gallery opens (1958B)
February 28 2014 - 3:16AM
UK Regulatory
TIDMARO
RNS Number : 1958B
Arricano Real Estate PLC
28 February 2014
28 February 2014
Arricano Real Estate plc
("Arricano" or the "Company" or, together with its subsidiaries,
the "Group")
Official opening of the expanded SEC "South Gallery"
Arricano (AIM:ARO), one of the leading retail real estate
developers and operators in Ukraine, is pleased to announce that,
yesterday, Phase II of the SEC "South Gallery" ("South Gallery")
shopping and entertainment centre, in Simferopol, was officially
opened.
Phase I of the South Gallery, with 13,100 sq.m. gross leasable
area ("GLA"), was opened in December 2009 and Phase II extends the
GLA to 32,800 sq. m.
The extended South Gallery boasts: 120 tenants of which 90
opened yesterday, 1,200 workplaces, an Auchan hypermarket, the
first of its kind in Crimea, and the largest entertainment centre
for children, "Baby Boom", in Crimea.
Commenting on the development, Yarema Kovaliv, Acting CEO,
said:
"Arricano is the developer and manager of the South Gallery. We
are pleased to have completed this expansion as part of the planned
development pipeline.
"Given the political unrest in Ukraine, we have been monitoring
the effect on our shopping centres and developments, particularly
in Kyiv. We will inform the market if this situation will have a
material impact on the business.
"We look forward to publishing our financial results for the
year ended 31 December 2013 in April 2014."
For further information please contact:
Arricano Real Estate plc Tel: +380 44 569 6708
Yarema Kovaliv, Acting CEO
Nominated Adviser and Joint Broker:
Smith & Williamson Corporate Finance Limited Tel: +44 (0)20 7131 4000
Azhic Basirov / Siobhan Sergeant / Oliver Cummings
Joint Broker
Whitman Howard Limited Tel: +44 (0)20 7087 4555
Ranald McGregor-Smith
Note to Editors
Arricano (AIM: ARO) is one of the leading real estate developers
in Ukraine and specialises in operating shopping centres. It is
listed on the AIM Market of the London Stock Exchange. The Arricano
group has a strong management team, which consists of local as well
as international experts with long standing track records in real
estate. The Arricano group owns and operates (or, in the case of
Sky Mall, has an interest in) five shopping centres in Ukraine with
approximately 190,000 sq. m GLA. The properties are located in the
capital Kyiv (Sky Mall and M26/RayON), Kryvyi Rih (SEC Sun
Gallery), Zaporizhzhia (SC City Mall) and Simferopol (SEC South
Gallery). The Company has recently acquired four development
properties: Prospect/Krasnotkatska (Kyiv), Petrivka (Kyiv),
Rozumovska (Odesa) and Lukianivka (Kyiv).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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