Ukraine mall developer Mandarin Plaza Group is betting on the future of retail in Kyiv, after unveiling plans for a new scheme, Ocean Mall, which is set to open its doors in the second quarter of 2022.
Described as 'the first luxury-designed shopping mall in Ukraine', the key feature of the 300,000 m2 mall is a luxury gallery comprising premium brands - the first of its kind in the Ukrainian retail market.
Its opening will create one of the largest commercial clusters in Europe, with the connection of Ocean Mall to the existing Ocean Plaza, a commercially successful shopping mall, according to Mandarin Plaza Group.
Nai Ukraine, the official broker for the new scheme, has confirmed that key leases for the project have already been signed.
Said Nai Ukraine CEO, Vitalii Boiko: 'Kyiv is one of the largest European capitals with a forecasted population of about 5,000,000 people by 2025 and a total catchment area (with satellites and tourists) of over 9,000,000 people.
'It is also necessary to take into account the fact that today Kyiv is a tourism "rock star", visitor numbers increased by 9% in 2021 and continue to grow, with more than 2,000,000 tourists per year.'
Key features of the new mall include a 20,000 m2 entertainment area featuring a laser Imax cinema and Galaxy Entertainment kids zone with VR area.
As well as a mix of fashion, kids and home brands, Ocean Mall will include grocery stores and healthcare brands, such as a Delicacy hypermarket covering more than 9,000 m2. The food gallery is expected to host more than 50 restaurants, from street food to fine dining.
Added Boiko: 'Currently in Kyiv, there are about 560 m2 of retail per 1,000 people - according to all the canons of retail real estate, this is a significant deficit. The commercial space market is far from saturated, and in the future, we expect not only a significant increase but also a qualitative change in the market.'
