Arricano Real Estate Plc: Update on Portfolio Vacancy Rate (847109)

 
 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: [phone] 
 
Mykhailo Merkulov 
 
Nominated Adviser and Broker:  Tel: [phone] 
 
WH Ireland Limited 
 
Chris Fielding 
 
Financial PR:                  Tel: [phone] 
 
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)