By the end of 2024, 130 thousand square meters are planned to be commissioned in the capital, which is 2.5 times more than last year’s result, experts predict
According to preliminary data, not a single shopping center was put into operation in Moscow in the first quarter of 2024. This is the first time this has been observed since 2018, said Ekaterina Nogai, head of the Research and Analytics Department at IBC Real Estate.
“In the first two and a half months, not a single high—quality shopping center was opened in Moscow, this is the first time since 2018,” Ekaterina Nogai said. But the situation will change by the end of the year, the expert continued.
According to IBC Real Estate forecasts, 130 thousand square meters are planned to be commissioned in the capital in 2024, which is 2.5 times more than last year. Ekaterina Nogai named Seligerskaya Shopping Center (58 thousand square meters) and Kuzminki Mall shopping center (33 thousand square meters) among the largest shopping centers preparing to open in Moscow in 2024.
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According to analysts, about 750 thousand square meters of retail space are currently being built in Moscow. Most of them were announced a year and a half ago, mostly district—format shopping malls,” said the head of the research and analytics department at IBC Real Estate.
The total supply of high—quality shopping centers in the capital now reaches 6.5 million square meters. m. The vacancy rate is 12%, but the demand potential from the Russian largest brands has been practically realized,” the expert added.
According to the results of the NF Group, in 2023, 288.7 thousand square meters of retail space were built in Russia, this was the minimum volume in the last 20 years. The new shopping centers are located in 25 regions of Russia, of which 19 (with a total area of about 220 thousand square meters) are outside Moscow, the Moscow region, St. Petersburg and the Leningrad region.
See also:
- Which shopping malls will open in Moscow in 2024
- Fitness instead of cinemas: how Russian shopping malls are changing
- A record deal with commercial real estate has been concluded in Russia in 10 years
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