The number of new retail spaces is growing in Moscow and the Moscow region
In the first half of 2023, 46,3 thousand sq. m. of new retail space, which is almost twice the number of commissioned retail real estate in the first six months of 2022, analysts at Nikoliers say.
According to the company, the new supply of high-quality retail space in Moscow and satellite cities in the first half of 2023 amounted to 46,3 thousand square meters. (GLA) through the opening of three shopping centers: a shopping gallery as part of the Mitino Park multifunctional complex (GLA 27 sq. m.), Siesta shopping center as part of the residential complex "Spanish Quarters" (GLA 14 sq. m.), Shopping center "Kuvshinka" as part of TPU Ozernaya (GLA 5,3 thousand sq. m.). The volume of commissioning is almost double the result of the same period in 2022, when three retail facilities were commissioned with a total leasable area of 25,5 thousand square meters. m.
By the end of 2023, it is planned to open another 20 high-quality retail facilities with a total leasable area of 222,9 thousand square meters. m.
“By analogy with last year, the trend continues to create small retail facilities of the “district” and “district” formats. However, the structure of the new offer is becoming more diverse: in addition to classic shopping centers with an entertainment component, shopping galleries appear on the market as part of other real estate segments. For example, the Siesta shopping center as part of the Spanish Quarters residential complex, which received its first visitors already in the first quarter of 2023, or the shopping gallery as part of the Seligerskaya transport hub, which is expected to open in 2024,” notes Anna Nikandrova, partner at Nikoliers. .
If in 2023 classical shopping centers account for 67,2% of the volume of expected commissioning, then in 2024 this share will decrease to 54,7%, while the percentage of retail space in the TPU will increase by almost 2,5 times and reach the mark at 34,8%.
According to the results of the first half of 2023, the vacancy rate in Moscow shopping centers began to decline due to the entry of new foreign brands into the market and greater activity of Russian retailers. In the second quarter, the vacancy rate decreased by 2,1 p.p. compared with the first quarter and amounted to 13,5%.
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