Jones Lang LaSalle has been appointed as the exclusive consultant for King Cross Leopolis, a major entertainment and shopping center project in Lvov, Ukraine. The developer of the project is the Italian company King Cross, who has constructed and manages a number of shopping centers in Central and Eastern Europe. King Cross Group and ComfortInvest are co-investors in the project.
The project is strategically located between Striyskaya Street and Lvov Western Ring Road, 15 minutes drive from the city center. Leopolis has a large catchment area and good visibility. The total area is 104,000 m² with a leasable area of 50,000 m². Its infrastructure will include a hypermarket (10,000 m²), DIY supermarket (8,000 m²), Polish Silver Screen multiplex (4,000 m²), skating rink, bowling alley and 1,800 parking spaces. Construction will start January 2007, with the opening planned for the second quarter of 2008.
King Cross Leopolis is the first entertainment and shopping center of international quality by a Western developer in Ukraine's regional market. King Cross is actively present in Poland with projects in Warsaw, Gdansk, Lodza and Poznan. As its first step in Ukraine, King Cross has chosen Lvov: one of the country's biggest cities with a population of 800,000. Lvov is a cultural centre and the main transportation hub for the Western part of the country. King Cross plans for Leopolis to attract around 40% of new-to-market foreign brands.
Philippe Beurtheret, Associate Director for Retail at Jones Lang LaSalle comments: "This is a remarkable event not only for Lvov but for Ukraine's retail market as a whole. Its location close to Poland, together with a truly professional team will secure a significant number of foreign brands who are coming through Lvov."
King Cross Group intends to invest to other cities in Ukraine in the future.
Source: Jones Lang LaSalle