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The growth of shopping centers in Moscow was the lowest in recent 10 years
30.12.2011 2319

The growth of shopping centers in Moscow was the lowest in recent 10 years

The increase in the supply of shopping centers in Moscow in the 2011 year was a record low over the last 10 years. In the current year, only five facilities with a total area of ​​297 thousand sq. M. Were put into operation, and the trading area increased by 169,5 thousand sq. M., Follows from the report of Knight Frank. The total supply of retail space in Moscow amounted to 8,07 million square meters (sales area - 4,35 million square meters).

Commented by Sergey Gipsh, Partner, Regional Director of the Retail Real Estate Department: “Our forecasts regarding the development of the retail real estate market in 2011 were fully justified. As expected, the market conditions throughout the year were determined by two main trends: extremely low supply growth and high activity of trading operators, which resulted in a shortage of high-quality retail space and an increase in rental rates. ”

Restrictions on development in Moscow, due to the policy of the Moscow authorities to review investment projects and the ban on construction inside the TTK, determined the shift in the interests of developers in the sleeping areas of Moscow and in the Moscow region. So, for example, in August the Grenada shopping center located in the city of Lyubertsy was commissioned, in December the first stage of the Otrada shopping center will open in the Mitino area of ​​Moscow.

The desire of operators to increase the efficiency of retail chains, including improving the location of stores, against the background of low growth rates of supply, has led to a focus on demand for high-quality facilities with a good location, analysts say.

As a result, the most sought after shopping centers have formed “waiting lists” for several years to come, while other, less successful facilities are even ready to lower rental rates in order to keep tenants. On average, the market share of vacant premises decreased to 2,5%.

As for the market of retail and retail premises, throughout the 2011 year, one could observe an increase in the interest of retail operators in the segment, which was largely facilitated by the supply shortage in Moscow shopping centers. The most active expansion in the segment was continued by food service operators and grocery stores, the malls.ru website writes.
The increase in the supply of shopping centers in Moscow in the 2011 year was a record low over the last 10 years. In the current year, only five facilities with a total area of ​​297 thousand sq. M. Were commissioned, and ...
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