Riviera Shopping Centre
What were you working on when the financial crisis hit?
Our client, Argo Capital Properties (represented by local developer Novi Biznes Poglyady Llc), had already begun construction on one of Ukraine’s largest shopping centres.
Rather than abandon the project, as many foreign investors did, Argo decided to continue with the scheme as the economic situation started to improve.
The decision paid off
In 2012 Riviera Shopping City’s occupancy rate was 100%. Today its unique blend of international and local retailers is a success story that everyone is buying into – attracting more than 6 million visitors a year. Developed to the highest of international standards and covering 85,000 sqm, the retail and entertainment destination includes:
- an IMAX cinema
- food court
- parking for 2,500 cars
- 120 shops including anchor tenant Marks & Spencer, a DIY store and a hypermarket
Keeping an eye on the budget
Construction was completed within a short timescale, and to a fixed budget. Gleeds provided a valuable mediating service to the main parties to:
- Ensure timely funding of the project
- Keep control of the budget
- Review and control the programme and works execution
- Track critical issues to minimise risk
In addition to building this new shopping city, Argo Capital Properties also participated in a local infrastructure programme. This included building new roads, hospitals and a kindergarten.
Best Shopping-Entertainment Centre in the southern region of Ukraine; deservedly awarded to Riviera Shopping City.