SHOPPING CENTERS - EITHER SLACK OR STABILIZATION

  • New shopping centers to open with 35-40% vacancy
  • No new construction in Moscow in Q1 2016, 4 SCs opened in regions with total GLA of 205,000 sq. m
  • Shrinking consumer market remains the main risk factor

Cushman & Wakefield expects new shopping centers to open with high vacancy rate in 2016 regardless that number of executed lease contracts is usually higher than number of factually opened shops. As of the opening date, vacancy rate in these SCs will amount to 35-40%. They will further increase occupancy.