The Russian Council of Shopping Centers (RSTC) has calculated the cumulative losses of shopping centers in Russia in 2020. At a press conference on Thursday, the President of the RSTC, First Deputy General Director of the Corporation A.N.D. Dmitry Moskalenko announced that the total revenue of shopping centers in Russia in 2020 due to the coronavirus pandemic decreased by about 250 billion rubles.
On average, losses of one shopping center in 2020 amount to about 40-45% of revenue. According to the expert, the restoration of the industry can only be expected in 2022.
In addition to the problems associated with the closure of shopping malls during the quarantine period and the decline in shopper traffic in the following months, the industry has been hit by a slowdown in construction and commissioning of new shopping centers. The construction dates for many retail facilities have been postponed. In Moscow this year, about 230 thousand square meters were commissioned. m of retail space, which is 20% less than the estimated volume. In the regions of Russia in 2020, only 40% of the planned volume of commissioning of the shopping center was sold, in general, about 190 thousand square meters were built. m.
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