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.
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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 Tel: +38 044 594 9471
Mykhailo Merkulov
Nominated Adviser and Broker: Tel: +44 (0)20 7220 1666
WH Ireland Limited
Chris Fielding
Financial PR: Tel: +44 (0)20 3151 7008
Novella Communications Limited
Tim Robertson/Toby Andrews
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
(END) Dow Jones Newswires
July 25, 2019 11:30 ET (15:30 GMT)
© 2019 Dow Jones News
