Cookie Use Notification

This site uses cookies to provide you with a more responsive and personalised service.

By using this site you agree to our use of cookies as set out in our cookie notice. Please read our cookie notice for more information on the cookies we use and how to delete or block the use of cookies.

10 new shopping centers were delivered in Russia in Q1 2014

Click to Enlarge

10 new shopping centers with total GLA of 410 383 sq.m. were opened in Russia in Q1 2014, according to Cushman & Wakefield, Russia. This almost double the delivery figure of the same period of 2013 when only 6 shopping centers with 256 870 sq.m. GLA were delivered.

According to Cushman & Wakefield’s forecast more than 50 shopping centers with 1.6 ml sq.m. of GLA will be delivered in 2014.
In Moscow and Moscow region 3 shopping centers were opened – “Goodzone” (GLA - 56 000 sq.m.), «Moskvorechije» (GLA - 19 780 sq.m.) и «Reutov Park» (GLA - 42 600 sq.m.). Total GLA delivered in Q1 - 131 780 sq.m. is 54% of the last year result.

“New shopping centers delivered in 2014 will not experience problems with vacancy – comments Maxim Karbasnikoff, Partner, Head of Retail Services at Cushman & Wakefield - Despite economic instability most of the retailers will not cancel expansion plans for 2014. But shopping centers on the early stage of construction will face competition for retailers”