18:47 04.06.2024

Olena Shvets appointed head of Arricano retail space department

3 min read


Olena Shvets has been performing the duties of the head of the retail space department of the Arricano Group in Ukraine since June 1.

According to the Arricano press service, the new director will be responsible for coordinating and monitoring the work of the department, managing lease agreements, and effective cooperation with tenant partners.

"The retail real estate market is undergoing a period of transformation during wartime and, thanks to this, is becoming more resistant to various factors. My journey in the Arricano Group in Ukraine fell during wartime and the period of a pandemic. However, together with the team, we perfectly resolved all crisis situations so that external factors did not interfere with the work of the shopping malls. I am sure that in the position of director of the retail space department I will be able to extrapolate my many years of experience and bring qualitative changes for the company," Shvets said.

Shvets is a professional with more than 16 years of experience in the retail real estate market and management of retail space. An economist by profession, she received her higher education at the European University of Finance, Information Systems, Management and Business. Before joining the Arricano Group in Ukraine, she held the position of commercial director of the New Way shopping center in Kyiv.

At Arricano, she worked for the company as a leasing manager for four years, in particular she put a lot of effort into forming a high-quality pool of tenants for the Sun Gallery shopping complex (Kryvy Rih), supporting partner companies and attracting new tenants during the war.

"During the period of work in the Arricano Group in Ukraine, Olena qualitatively transformed the tenant-mix of the Sun Gallery shopping and entertainment complex in Kryvy Rih, promptly and professionally responded to all the challenges that arose during the operation of the shopping center during the war in Ukraine. I am convinced that Olena's experience in a leadership position will allow us to take a fresh look at current tasks, assess prospects and identify opportunities, the implementation of which will have a positive impact on the development of Arricano," said Anna Chubotina, CEO of Arricano Real Estate LLC.

Arricano Real Estate Plc (Cyprus) specializes in the construction of shopping and entertainment centers and is one of the leading developers in the Ukrainian real estate market. It owns and manages five shopping centers in the country with a total area of 147,600 square meters: RayON and Prospekt in Kyiv, Sun Gallery in Kryvy Rih, City Mall in Zaporizhia. The company also owns 49.9% in the Sky Mall shopping center (Kyiv) and land plots for the further construction of three facilities at the design stage. The company is also constructing the Kyiv shopping and entertainment complex Lukianivka.

According to Opendatabot, Arricano Real Estate Plc's income for 2023 was UAH 36.156 million, which is 52.8% higher than the results of 2022, net profit increased 2.28 times, to UAH 7.168 million.

According to the report for the first half of 2022, the largest shareholder was Estonian Rauno Teder, who increased his stake to 70.86% from 15.92% after his father Hillar Teder transferred his stake to him. Dragon Capital Investments Limited and Jüri Põld were also named among the shareholders.