Panorama Group, part of Luxembourg-based Expert Capital, has confirmed that it is in talks with an unnamed investor to sell its flagship shopping centre project in Ukraine, Sky Mall. A Panorama spokesperson told PropertyEU that a final agreement has not yet been reached. The complex is located in the Ukrainian capital of Kiev and provides around 88,000 m[sup]2[/sup] of gross retail space. It represents an investment of around $150 mln (EUR 112.5 mln).

Panorama Group, part of Luxembourg-based Expert Capital, has confirmed that it is in talks with an unnamed investor to sell its flagship shopping centre project in Ukraine, Sky Mall. A Panorama spokesperson told PropertyEU that a final agreement has not yet been reached. The complex is located in the Ukrainian capital of Kiev and provides around 88,000 m2 of gross retail space. It represents an investment of around $150 mln (EUR 112.5 mln).

Sky Mall is being developed in two phases, with Phase I delivered in late 2009 and Phase II due for completion in the first part of 2010. The centre also offers 4,000 parking spaces and is anchored by an Auchan hypermarket, in the French retailer's third operation in Ukraine after opening two hypermarkets in Kiev and Donetsk two years ago.

Panorama and Auchan reached an agreement in late 2009 for the leasing of a total of 25,000 m2 of space across Panorama's three new sites in Kiev, Zaporozhie and Krivvyh Rig. Jones Lang LaSalle is the leasing agent.

Headquartered in Kiev, Panorama Group is a real estate developing company with a number of ongoing shopping centre development projects in Ukraine including Sunny Gallery with 33,000 m2 of space in Krivyi Rig and the City Mall shopping centre offering 32 000 m2 of retail area in Zaporozhie.