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ARRICANO REAL ESTATE PLC (FRA:CY010294) Arricano Real Estate Plc: Update on Portfolio Vacancy Rate

Directive transparence : information réglementée

25/07/2019 17:30

Arricano Real Estate Plc (ARO)
Arricano Real Estate Plc: Update on Portfolio Vacancy Rate

25-Jul-2019 / 16:30 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.


 


 

Arricano Real Estate plc
 

("Arricano" or the "Company" or, together with its subsidiaries, the "Group")

Dynamics of Vacancy Rate

Arricano (AIM:ARO), a leading real estate developer and shopping malls operator in Ukraine, is pleased to announce, as at 30 June 2019, it has recorded the lowest average vacancy rate across its portfolio of shopping and entertainment centres, since 2012.

 

End of Year

Vacancy rate

 

2012

3.2%

 

2013

1.7%

 

2014 (the year of the new shopping mall opening)

 

10.7%

2015

 

3.8%

2016

 

1.7%

2017

 

1.3%

2018

0.3%

2019 H1

0.1%

 

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.

Mykhailo Merkulov, CEO of Arricano, states: "The improvements in occupancy rates over this period is a testament to Arricano's team efforts - both in relation to the market and in relation to its past results. 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."

 

Enquiries:

 

Arricano Real Estate plc

Mykhailo Merkulov

 

Tel: +38 044 594 9471

Nominated Adviser and Broker:                   

WH Ireland Limited

Chris Fielding 

 

Tel: +44 (0)20 7220 1666

Financial PR:                                     

Novella Communications Limited

Tim Robertson/Toby Andrews

 

Tel: +44 (0)20 3151 7008

 



ISIN: CY0102941610
Category Code: MSCL
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.: 14689
EQS News ID: 847109

 
End of Announcement EQS News Service

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