Esta holding investments in TsUM shopping mall in Kyiv exceed USD 100mln

Development Esta holding belonging to SKM group associated with domestic tycoon Rinat Akhmetov after four years of reconstruction works opened Central Universal Department Store in Kyiv city. Total and shopping floor space amount to 45 000 sq.m. and 23 500 sq.m. respectively, after rebuilding operations of 8 storey trading center. The payback period increased twofold on the investments that exceeded USD 100mln compared to the estimates at the outset of the development project, told Maxim Gromadzov the CEO of Esta Holding. As of present, a half of the shopping capacity is occupied by shops and outlets. The food department over entire floor will be opened in the beginning of December this year. This time the youth apparel department is expected to be launched too. Restaurants and fast food court will start in Q1/2017.