Update on Occupancy and Visitor Levels (1166354)
February 08 2021 - 2:00AM
UK Regulatory
Arricano Real Estate Plc (ARO)
Update on Occupancy and Visitor Levels
08-Feb-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014
(MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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8 February 2021
Arricano Real Estate Plc
("Arricano" or the "Company")
Resilient Occupancy and Visitor levels in 2020
Arricano, a leading developer and operator of shopping malls in Ukraine, is pleased to confirm that during 2020 despite
the significant restrictions caused by the Covid-19 pandemic, its shopping malls continued to perform well, largely
retaining their tenant base, attracting millions of visitors and adding international brands as new tenants.
As a consequence, total tenant turnover was only 10% below 2019 in local currency.
Throughout much of 2020, the government in Ukraine put in place restrictions to reduce human interaction to combat the
COVID-19 pandemic. These measures resulted in the partial closure of the Arricano shopping malls for between 52-81 days
(depending on region), restricting visitor access to essential stores. Despite the temporary closure of retail stores
and reduced access, the occupancy rate across the Arricano portfolio remained at 99%, the same level it has been since
2018.
Similarly, the number of visitors to the malls in 2020, including the periods of government restrictions, amounted to
33.1 million visitors, which is only 19% less than in 2019. When the shopping malls were operating normally, visitor
numbers only decreased by 5% compared to the same period in 2019.
During 2020, Arricano Group signed 89 new lease agreements covering a total area of 8884 sq.m., representing 6 per cent
of the operating estate. New tenants include New Yorker, Flo and Decathlon.
Arricano anticipates releasing its final audited results for the year ended 31 December 2020 in late April.
Anna Chubotina, CEO of Arricano, said:
"Arricano was impacted by Covid-19 but I am delighted the Company was still able to perform well. I believe this was
down to the efforts of our teams who managed to keep the vacancy rate to just 1%, a resilient performance which
reflects well on the appeal of the shopping malls. I am also pleased that we maintained visitor numbers at very high
levels whilst implementing the extensive hygiene, security and cultural changes needed to keep everyone safe.
"Our focus on effective cooperation and partnership was heightened in this period and key to the further development of
trust with our tenants, and consequently our ability to sign new cooperation agreements.
"All of which bodes well for the future."
Enquiries:
Arricano Real Estate plc
Tel: +357 25 582 535
Ganna Chubotina
Nominated Adviser and Broker:
WH Ireland Limited Chris Fielding
Tel: +44 (0)20 7220 1666
Financial PR:
Novella Communications Limited Tim Robertson/ Fergus Young
Tel: +44 (0)20 3151 7008
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ISIN: CY0102941610
Category Code: MSCH
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 93076
EQS News ID: 1166354
End of Announcement EQS News Service
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