On June 6, 2013 Budhouse Group began construction of the Forum Lviv shopping center together with Multi Development Ukraine LLC and Gallery-Center. This is the first joint project of Budhouse Group, which will become one of the most prestigious retail projects in the country. The Lviv Forum covers an area of 69,000 m2 (including 36,000 m2 of retail), restaurants, entertainment, a cinema and an underground parking lot. The EBRD (European Bank for Reconstruction and Development) and UniCredit are responsible for financing the construction of the project. The opening of the Forum Lviv is scheduled for the first quarter of 2015.
The Lviv Forum is building in the city center, within walking distance of the main square and the famous opera house. The building has four levels: an underground parking zone, two levels with shops, and the upper level, where will be a cinema, entertainment center and restaurants with an outdoor terrace. This terrace offers a magnificent view of the city. Multi has already leased over 70% of stores to large national retailers, such as Amstor (supermarket), Comfi (electronics supermarket), Brocard (cosmetics and perfumery) and international retailers, including Reserved, Marc O 'Polo, Ecco, Geox, Timberland, Pandora and Urban United. A rental agreement was recently signed with Igroland (an entertainment center for children) and Planet Kino (cinema). Underground parking for 620 parking places is the first large-scale parking infrastructure in the center and thus the first for Lviv.
Lviv, which is located near the border with Poland, is the cultural and economic center of the Western Ukraine. The city has more than 700,000 inhabitants and plays an important role in the region. The center was inscribed on the UNESCO World Heritage List in 1998, and is becoming increasingly popular among tourists, also due to the successful holding of Euro 2012 in the city.
The first Multi Shopping Center in Ukraine is the result of the loyalty and commitment of our team, our Ukrainian real estate partners and financiers. We consider it as a great honor that our first project in Ukraine is located in the beautiful city of Lviv. Development has had a long delay and construction is an important step forward for Multi Ukraine. The fact that more than 70% of the retail space has already been leased confirms and justifies our confidence in the project, said Heino Vink, Managing Director of Multi Corporation.
The Lviv office of the architectural firm Tebodin is responsible for the project, while T + T Design, its own architectural bureau Multi, is responsible for the concept. The architecture is characterized by a harmonious balance of historical and modern elements, respecting the character of Lviv. In addition, solutions were found to include a shopping center as part of the existing street plan and enhance walking routes in the city center. Thus, the mall will play an important role in promoting development in the surrounding area.
Development Forum Lviv transforms what used to be an industrial area into an attractive shopping place. This is important for helping to revitalize the city center, strengthen customer traffic and opportunities. The Lviv Forum will create more than 800 permanent jobs, thereby making an important contribution to employment in the region. Multi aims to get BREEAM certification for each project. For this reason, Multi uses the services of the Key Group to manage the design and construction process, so the Forum Lviv will be the first project in Ukraine to be granted the BREEAM certificate.
Multi Development Ukraine is a part of Multi Corporation, one of the largest companies in Europe, Turkey and Brazil in the field of investments, development and operation of shopping centers, multifunctional projects and urban redevelopments. Multi projects are not only innovative and sustainable, but often they are catalysts for economic growth and social regeneration of cities and regions.
Since its founding in 1982, Multi has been responsible for more than 170 projects and it`s active in 14 different countries.
Gallery Center is a private investment and development company with various current projects in the field of commercial real estate in Lviv and Western Ukraine. Over the past 12 years, Gallery-Center is engaged in development of both its own and joint projects, in cooperation with Ukrainian and International parties, providing services for investment, development and construction companies.
Budhouse Group is an investment and development company from Kiev, founded in 2006. The number of employees is currently about 200 people. Today Budhouse Group acts as the owner and developer of shopping centers in such cities as Kiev, Kherson, Cherkasy, Odessa, and Kharkov.
The EBRD, owned by 64 countries and two intergovernmental institutions, supports the development of a market economy and democracy. The EBRD is the largest financial investor in Ukraine. On March 31, 2013, the bank took obligations regarding the provision of & euro 8.63 mrd. ($ 11 billion), through 337 projects in Ukraine.
UniCredit is a leading European commercial bank with strong roots in 20 countries. Our global network covers about 50 countries with almost 9,200 branches and more than 152,000 employees. In Central and Eastern Europe, UniCredit has the largest and most diversified international banking network of more than 3,600 branches. The group operates in Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.
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