State and industrial enterprises in Moscow are gradually bringing staff back to the office, according to industry insiders cited by Kommersant, the business daily. The trend signals a shift away from a broad remote-work experiment toward renewed emphasis on in-person collaboration for complex projects, client meetings, and team alignment. Analysts and players in the local real estate scene note that the rebound remains uneven, yet tangible progress is visible in how demand patterns are evolving as companies reassess space needs in a post-pandemic economy. This recalibration reflects a broader business reality: teams benefit from face-to-face interactions when coordinating multi-step processes, shaping a more cohesive corporate rhythm and faster decision cycles in today’s fast-moving markets.
Forecasts from the development consultancy Asterus project that the January–March period will see roughly 200,000 square meters of office space transacted in Moscow for rental or purchase, down from about 348,000 square meters in the prior year. While the headline figure is softer, observers view the outcome as encouraging because the market is rebalancing around fresh demand rather than relying on carryover from previous years. In 2022, transfers from the prior year accounted for 72% of total activity; the current outlook emphasizes new transactions driven by current business needs and expansion plans, underscoring a shift in the market’s momentum. Stone Hedge, a development firm, adds that since the start of the year the number of transactions in Class A office properties—modern business centers—has risen by about 35% versus last year, signaling renewed appetite for premium spaces among select occupiers who seek high-quality environments to support growth and innovation.
NF Group partner Maria Zimina notes a sustained rise in available space as the market absorbs new leasing patterns. Meanwhile, Dmitry Klapsha, the chief executive of a major market player, highlights a broader uptick in business activity within Moscow’s office sector. He explains that areas previously dominated by a cautious, wait-and-see approach have begun to attract more decisive buyers and tenants, reflecting improved visibility for corporate planning. Elena Medushskaya, deputy director of the office real estate department, points to persistent interest from state entities, government departments, IT divisions, and the industrial sector as the primary drivers of current demand, with these groups showing practical commitments to long-term occupancy in key submarkets. The dynamics suggest a reshaped demand map where government-related offices, tech hubs, and manufacturing clusters converge around strategic districts that offer robust connectivity and resilience for future operations.
Industry observers caution that the market may face a gradual tightening of space availability if foreign entities continue to depart Russia. Maria Zimina and Denis Bobkov, head of the analytical department at Asterus, discuss scenarios where space vacancy could rise relative to late 2022 levels. Bobkov notes that the share of unused Class A space could approach 20% by year-end, up from the lower single-digit percentages in recent years. The divergence between evolving demand from Russian companies and the ongoing withdrawal of foreign players could prevent a full recovery in rental volumes, even as domestic enterprises seek to expand or relocate to higher-quality facilities. The overall takeaway is that Moscow’s office market remains in a transitional phase, characterized by shifting demand sources, evolving supply dynamics, and a careful balance between expansion needs and prudent risk management across the corporate landscape. The ongoing reshaping of occupancy trends underscores the importance of flexible leasing strategies and resilient property portfolios that can adapt to new business realities across major urban centers.