The Panorama Group, a Ukrainian developer,is planning to sell a 50% stake in the company in January 2010 in order to raise funds for the development of projects. The name of the likely buyer and the cost of the deal have not been disclosed. However, it has been reported that the developer could acquire a new name after the deal has been concluded.
The company's projects include the construction of a 22,000 m² retail and recreation centre in Kiev, due to begin by March this year, which requires an investment of €20.8m. In addition, the developer is completing work on the second stage of the Sky Mall shopping centre in Kiev, which will be launched in February.
The Panorama Group has, so far, built four retail and recreation centres in Ukraine, including Inter Mall in Simferopol, Solnechnaya Galereya in Krivoy Rog, City Mall in Zaporozhye and Sky Mall (the first stage) in Kiev.
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