Moscow and St. Petersburg markets began to gradually replace the departed Western brands with retail chains from Russia, Turkey and post-Soviet countries. About Writer Kommersant refers to market participants.
The average vacancy rate in Moscow shopping centers was 15.6%, an increase of 1.9 points compared to the previous year. and St. Petersburg, the dynamics turned out to be more important, during the year the volume of free space increased by 6.3 percentage points to 10.6%. At the same time, 45 new foreign brands entered the Russian market in the past year, nine of which have already opened their stores.
The publication noted that companies from Turkey, Kazakhstan, China, India, USA, Armenia, Japan, Belarus and Italy started to appear mainly in the Russian market. At the same time, market experts pointed out that the best feeling was the catering sector. For example, in Moscow’s street retail segment, about 7-10% of the space is currently vacant. With one third of the catering facilities opened during the year in the economic segment, St. Almost the same trend is observed in the St. Petersburg market.
At the same time, in the office real estate market of Moscow by the end of 2022, 9.1% of the area and St. Petersburg – 10.3% vacant. At the same time, vacant space growth will continue until the end of the first quarter of 2023, as most contracts are completed.
Izvestia newspaper at the end of November Wrotethat the participants of the real estate market allow the closure of every second shopping center in Russia. Oleg Voitsekhovsky, Director General of the Russian Council of Shopping Centers, noted that at least 200 shopping centers in the country were in the bankruptcy and pre-bankruptcy period. According to their estimates, this number could grow to another 70-100 objects.
Source: Gazeta
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