Arricano trade center's operation in Kryvy Rih, Zaporizhia demonstrates prospects for reconstruction, development of these cities

The stability of the economic indicators of Arricano shopping centers in Kryvy Rih and Zaporizhia demonstrate the prospects for the reconstruction and development of these cities, emphasized Anna Chubotina, CEO of Arricano Real Estate LLC, at the Live Connect meeting within the framework of CEEQA in Warsaw.

"The CITY MALL shopping center in Zaporizhia maintains 0% vacancy, despite the drop in revenue due to constant shelling and alarms, which can take up to half of the working time. The stability of such an indicator as occupancy and the positive trend of the restoration of attendance demonstrate the prospects for the reconstruction and development of these cities. In our opinion, they have significant potential if their reconstruction is supported at the national and international levels. Large shopping centers play an important role for local communities and the general economic situation of the regions, so despite all the challenges, Arricano continues to invest in the development of its shopping centers in frontline cities," Chubotina noted.

The CEO of Arricano noted that the number of residents of Kyiv remained at the pre-war level due to internal migration, and in cities such as Zaporizhia and Kryvy Rih, the population probably decreased by 20-30%, based on the assessment of retail trade volumes.

"The situation depends on where your project is located. For example, in our facilities in Zaporizhia and Kryvy Rih, the situation is very different from Kyiv, where we achieved results that more or less correspond to the pre-war level," Chubotina added.

She showed the guests of the CEEQA 2025 ceremony what the fully restored Sun Gallery shopping center in Kryvy Rih, which was damaged by a rocket attack on the city in January 2024, looks like, completely renovated by Arricano, and emphasized the importance of attracting investment to support Ukrainian cities even during the war.

The Central & Eastern European Real Estate Quality Awards (CEEQA) is one of the largest real estate competitions in Europe. The annual industry award, founded in 2003, identifies the best projects, brands and companies for the previous calendar year.

This year, among the nominees was LLC Arricano Real Estate (hereinafter referred to as Arricano) in the Developer of the Year nomination and its CEO Anna Chubotina in the Industry Professional of the Year nomination.

During CEEQA, a number of events are taking place, including the Live Connect meeting discussion. This year, in addition to CEO Arricano, representatives of the Ukrainian real estate business took part in it, in particular, Andriy Brynzylo (Argo Capital Property Ukraine), Hanna Koriahina (Nhood), Maksym Havriushyn (Budhouse Group), as well as Volodymyr Tymochko (Dragon Capital).

Arricano Real Estate Plc (Cyprus) through its Ukrainian subsidiaries owns four shopping centers in Ukraine: 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.