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Demand for retail space grows in Russia
10.06.2011 3569

Demand for retail space grows in Russia

Praedium Oncor International analyzed the main trends in the retail real estate market in May 2011. According to the company, in May the demand for shopping centers and street-retail grew, and rental rates showed a smooth increase.

The share of vacant space in the segment of high-quality shopping centers decreased from 6,5% in the 1 quarter of 2011 of the year to 5% in June and is close to zero in the street-retail segment.

The pace of construction of retail space has not changed significantly and remains quite low, although recently the number of applications for the resumption of projects frozen during the crisis and the start of new ones has increased. So, for example, it was announced that construction of the Sunny Paradise shopping center with a total area of ​​11 400 sq. m in the city of Krasnogorsk, 6 km from MKAD. The opening of the facility is planned for September 2012.

The Indian company Sun Group has announced its intention to engage in the development of retail real estate and housing in Russia. The company is already looking for two partners among the leading developers in the Moscow region.

According to analysts, a notable event in the Moscow retail real estate market was the opening on May 22 of the Afimall City shopping center on the territory of Moscow City, its total sales area is 180 thousand square meters. m). At the time of opening in the mall with a total area of ​​more than 180 000 sq. m was the area. It is expected that by the end of the year the mall will be filled with tenants by 100%,

Reception of outdated shopping centers is becoming more widespread. In May 2011, it became known that the Turkish developer Enka plans to rebuild the old Ramstores into multifunctional complexes. The first to be demolished will be the Capitol, the debut shopping center Enka in Russia, opened in Kuntsevo in 1997. In its place there will be a complex, which will include a shopping center (58 900 sq. M of rented space), offices, housing and parking for more than 1900 parking lots. The developer expects to start work before the end of the second quarter of 2011 of the year. A similar restructuring will affect at least four more megamalls, “Capitol on the street. Miklukho-Maklaya (its area is 27 600 sq. M), on Vernadsky Avenue (130 000 sq. M), in Maryina Roshcha (32 700 sq. M) and on Kashirskoye Shosse (29 754 sq. M).

The increase in demand and rates is due to increased activity of retail chains. Leadership in the rental and purchase of retail space is still held by chain stores of children's goods, clothes, shoes, as well as grocery retailers.

Mango retailer intends to open 200 stores for four years. The Obuv Rossii chain of stores plans to invest in the development of 1,5 billion rubles. Detsky Mir wants to open 50 new stores in two years.

Investors are also interested in the trading segment. So, in May 2011 it became known that the direct investment fund managed by FC Uralsib bought a stake in the retail chain of children's goods stores Academy.

Praedium Oncor International analyzed the main trends in the retail real estate market in May 2011. As noted in the company, in May the demand for shopping centers and…
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