The economic situation in Russia has led to a significant increase in the vacancy rate
areas in the shopping center of Moscow. According to JLL analysts, in the 3 quarter of 2014, the volume of free space in the Moscow shopping center market increased from 3,5 to 6%.
Over the past three quarters, 285 thousand square meters have entered the Moscow market. m of quality space in shopping centers, which is almost 1,5 times higher than the volume of total commissioning over the past year, JLL analysts calculated. Including in the 3rd quarter the capital market was replenished with two objects - the shopping center "Vodny" (32 thousand sq. M.) And the shopping center "Alphabet" (11 thousand sq. M.) Were put into operation. The quarterly result was 20% higher than in the same period last year, when 35 thousand square meters were commissioned. m.
In the 4th quarter, experts expect the largest volume of commissioning - five shopping centers with a total rentable area of more than 450 thousand square meters. m. If all the announced projects are implemented on time, the volume of new space commissioning by the end of 2014 will exceed 750 thousand square meters. m, which will be a record figure in the entire history of the market.
Due to the volatility of the exchange rate, there was an increase in the terms for decision-making by tenants, which also affects the speed of filling shopping centers. In 2015, JLL analysts expect further growth in the share of vacant space due to a significant amount of commissioning of new facilities, as well as a review by some retailers of development plans due to weakening purchasing power of Russians and, as a result, a slowdown in retail sales.