Old Mutual nets contract in Kiev

South African retail investor Old Mutual Properties has won a contract to provide leasing, marketing, facilities management and operational support services for Univermag Ukraina, the leading shopping mall in the Ukrainian capital, Kiev.

The four-storey complex on Victory Square first opened in 1966 as a state department store. New York-based NCH Capital, which owns a 93 per cent stake in the property, is carrying out a US$20 million (£12.7 million) refurbishment.

Old Mutual Properties retail property executive Brent Wiltshire said the appointment is a major breakthrough into key emerging markets. It follows earlier consulting assignments by Old Mutual Properties in the Middle East.