An increase in new shopping centers in Russia is expected in 2026.
12.01.2026 1997

An increase in new shopping centers in Russia is expected in 2026.

Analysts at NF Group predict that the volume of new shopping center completions in the country could increase by 21% in 2026, reaching 638 square meters. This is double the amount from the previous year.

The increase in new shopping centers is expected not in Moscow, but in the regions, and is primarily due to the commissioning of facilities whose construction had been delayed. Kommersant reports, citing analysts and industry experts, that approximately 67% of facilities currently under construction have had their completion dates pushed back to 2026.

This year, the bulk of construction will come from shopping centers located in the regions: their share of the total construction volume will be 71%, according to estimates by the consulting firm Nikoliers. According to the consulting firm, Moscow and the Moscow region will account for 20% of new construction, while St. Petersburg and the Leningrad region will account for 9%.

By the end of 2025, the increase in new retail space supply in Russia amounted to 449,3 square meters, with 28 projects delivering new space, including in Moscow, St. Petersburg, and the Moscow region. Additionally, another 79 square meters of retail space were expected to be delivered by the end of last year based on developer requests. Therefore, the total volume of new retail space delivered in 2025 was expected to reach 528 square meters. For comparison, by the end of 2024, new supply totaled 485 square meters.

Key events last year included the openings of major projects: the Avenue Sever shopping mall (GLA 60 sq m) in Moscow and the Hollywood shopping mall (GLA 60 sq m) in St. Petersburg. In the regions, more than 70% of new supply was small-format projects.

Marina Shumilina

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Analysts at NF Group predict that the volume of new shopping centers completed in the country could increase by 21% to 638 square meters in 2026. This is double the amount completed last year…
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