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MOSCOW IS BACK TO 10 TOP REATIL MARKETS WITH HIGHEST DENSITIES

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According to Cushman & Wakefield this year Moscow is rated one of 10 top Russia’s cities with the highest retail density for the first time in last several years. Last 2 years Moscow retail market showed unprecedented activity in quality retail projects development (almost 1 mln sq m of quality retail areas entered into the market). Moscow now holds the sixth position in TOP 10 with 382 sq m of quality retail area per 1,000 residents. Krasnodar leads with 734 sq m per 1,000 residents, followed by Samara (562 sq m), Tyumen (438 sq m), Orenburg (428 sq m per 1,000 people) and Yekaterinburg (410 sq m).

In general since autumn 2013 when the last corresponding research was conducted 98 quality malls with total area of 3,590,000 sq m were developed in 53 cities of Russia. For comparison this is more than total market volume in Austria (2,78 mln sq m  of retail area), Switzerland (2,78 mln sq m), Belgium (1,28 mln sq m), Czech Republic (1,56 mln sq m), Finland (2,10 mln sq m. for the moment Russia’s quality malls with total area of 15 000 sq m offer retail area of 16.25 mln sq m.

Krasnodar leads by far. “Krasnodar maintains its position though the peak development period is left behind and potential for new large projects development is rather limited”, - says Lada Belaychuk, Associate, Deputy Head of Research Department at Cushman & Wakefield. Samara holds the second top position showing high activity in new retail projects development. In Tyumen and Orenburg quite a lot of new objects have been put into operation lately. These cities moved up to 3th and 4th positions correspondingly. In Yekaterinburg, which is holding the 5th position, they are, on the contrary, developing existing projects. Saint Petersburg is holding the 7th position. The capital of the North is traditionally shows high retail projects development activity, and local residents are generating high demand in retail segment.

Yaroslavl took up the position in the top list, rating N8, as quite many of new projects entered into local market. Nizhny Novgorod and Rostov-on-Don, which demonstrated slowdown in retail projects development, moved down to last two positions in the list.

“Retail space 2015” gives comparison of retail market density level in 35 Russian cities with population over 500 000. The cities are compared on quality retail projects volume per 1,000 residents. More details, the full top list and analysis of quality retail market dynamics will be delivered in 4th edition of “Retail space”, which will be published in the end of June 2015.