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”