The international consulting company ASTERA, which provides professional services in the field of commercial and elite residential real estate, compiled a review on the development of the retail real estate market in St. Petersburg over the 2013 year. According to analysts, over the year 13 new shopping centers opened in the Northern capital. The annual input volume amounted to 284,7 thousand square meters. meters, which is a record for the past seven years. The level of provision with retail space has reached 612 squares per thousand Petersburgers.
Among the leading districts in the city in terms of commissioning were: Nevsky, Krasnoselsky and Frunzensky - they accounted for more than 50% of new leasable areas. The most ambitious projects of the year: the London Mall, Pearl Plaza and Balkania Nova II complexes. The total rental area of these objects was about 150 thousand square meters.
“The significant volume of new supply commissioning in recent years has brought the retail real estate market of St. Petersburg closer to saturation,” notes Olga Atkachis, head of the retail real estate department at ASTERA in an alliance with BNP Paribas Real Estate. “In the future, we expect the strengthening of unique functions within the framework of existing projects, as well as the development of the format of microdistrict and regional shopping centers.”
In 2014, 11 projects with a total area of 188 thousand square meters were announced for commissioning. meters. Among the most significant are Europolis and Fashion House Outlet. Subject to their implementation, the total leasable area of the shopping center in St. Petersburg will increase by 6,1%, and the level of provision of the population with retail space will be able to reach 644 square meters per 1000 residents.