LONDON (Alliance News) - Arricano Real Estate PLC, a real estate developer and operator of shopping centres in Ukraine, on Friday said it has signed a total of 154 new lease agreements across its five shopping and entertainment centres in the first 10 months of 2015.
The company said a total of 17,400 square metres of retail space was leased, including 7,600 square metres in the course of tenants' rotation.
The gross leasable area of the five shopping and entertainment centres is equal to about 147,800 square metres.
"Given the ongoing political struggles in Ukraine and the impact this has had on the economic environment, this has been an exceptionally challenging environment for the leasing sector; to secure 154 new tenants is therefore a significant achievement," Yulia Schastlivaya, leasing director of Arricano Real Estate, said in a statement.
"At times like these it is paramount to take into account the interests of all parties, namely lessees, centre visitors and the operating company - and we think we have managed to strike the right balance. Our policy is to listen to and take into consideration the concerns of our lessees, understand their business and seek to build partnerships. As of today we have over 750 contract lessees," Schastlivaya said.
Shares in Arricano were untraded on Friday morning, having last traded at USD0.650.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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