NDV-Real Estate presented an overview of current commercial real estate projects in 2011. One of the positive trends of the past 2010 year on the commercial real estate market in Moscow was the “unfreezing” of unfinished facilities and the resumption of the implementation of projects postponed during the crisis.
In January 2011, Sberbank agreed to open a Mirax Group credit line to complete the Vostok tower of the Federation complex, as well as the bank’s consent to finance the Alcon business center project on Leningradsky Prospekt.
Work continues on the sites of Mirax Plaza, Mercury City, office and hotel complexes on Olimpiysky Proezd and Vasilisa Kozhina Street. In January, on the 2 − 3 section of the Moscow-City MIBC, work began on the construction of the Evolution Tower (ex City Palace). Resumed work on the 16-th section of Moscow-City (a multifunctional office and administrative complex with a parking lot).
MR Group begins the implementation of several previously announced commercial facilities, including a multifunctional class “A” retail and office complex at the intersection of Golovinsky Shosse and Kronstadt Boulevard.
Over the past few months, the construction of the June shopping center in Mytishchi has been actively underway. GK "Regions" has acquired and plans to complete a shopping center in Krasnogorsk. At the end of 2010, Torgovy Kvartal Group of Companies resumed the construction of a shopping and entertainment center in Domodedovo and plans to put it into operation by the end of the year.
Of the new retail real estate projects, analysts note the shopping center with a total area of about 51 thousand square meters. m, which the developer “MR Group” plans to build by 2013 in the IFC, located in 2 minutes walk from the metro station “Water Stadium”.
The overall downward trend in the number of new commercial real estate projects is especially pronounced in the context of the trading segment. The inertial input of large-scale retail facilities planned before the crisis continues, and developers evaluate the risks and prospects of new projects more carefully.