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Moscow and St. Petersburg are oversaturated with shopping centers
10.11.2014 2945

Moscow and St. Petersburg are oversaturated with shopping centers

According to a study by Knight Frank, the potential of Moscow and St. Petersburg for the construction of new shopping centers is almost exhausted. At the same time, in such regions as the Moscow Region, Bashkiria, Tatarstan, Dagestan, Krasnoyarsk Territory, there is a shortage of shopping centers.

In Moscow in the near future it will be unprofitable to build new shopping centers. According to estimates by Knight Frank, the Russian capital and the Moscow region in total need 5 million square meters. meters of retail space, then it was already built and projected space on 7,5 million square meters. meters.

In St. Petersburg, a glut is also expected. The city needs about 2 million square meters. meters of retail space, while the existing area (2,5 million square meters) already exceeds this amount. In a situation of market oversaturation, owners of shopping centers will be forced to resort to redevelopment of existing facilities. So, in Moscow, about 19% of high-quality retail space is obsolete. In St. Petersburg, this figure is approaching 60%.

According to research by Knight Frank, the potential of Moscow and St. Petersburg for the construction of new shopping centers is practically ...
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