AIM-listed Ukrainian investment and development company XXI Century Investments has announced the start of construction of a mixed-use development in the Ukrainian city of Sevastopol. The total site area of about 91,000 m[sup]2[/sup] will comprise the 45,000 m[sup]2[/sup] Kvadrat shopping centre and a 46,000 m[sup]2[/sup] residential complex.
AIM-listed Ukrainian investment and development company XXI Century Investments has announced the start of construction of a mixed-use development in the Ukrainian city of Sevastopol. The total site area of about 91,000 m2 will comprise the 45,000 m2 Kvadrat shopping centre and a 46,000 m2 residential complex.
The shopping centre is expected to be the largest retail development in southern Ukraine and will include a hypermarket, around 100 shops, a multi-screen cinema, a bowling alley, an ice-skating rink, a children’s entertainment centre and a food court. Negotiations with potential anchor tenants, including hypermarket brands and cinema chains have already begun. Approximately 15% of the centre is pre-let.
Located in a prestigious area of Sevastopol the shopping centre will be easily accessible to its population of 360,000 people. Kvadrat shopping centre is scheduled for completion in 2009 and the residential project in 2010. As of year-end 2007 Jones Lang LaSalle valued the project at $37.8 mln.
