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The launch of new shopping centers in Russia may halve this year

The launch of new shopping centers in Russia may halve this year

Analysts have predicted a decrease in the entry of retail space in Russia this year after a record year in 2021. The volume of construction may decline by half, follows the report Marketbeat Lite, which was prepared by experts Cushman & Wakefield on the basis of the fourth quarter of last year.

This year, the construction of shopping centers will be reduced by about half. According to analysts, both in Moscow and in the regions, small retail facilities are planned for input, writes TASS. It follows from the materials that the expected input could be 350 thousand "squares".

In 2020-2021 in Russia almost did not start to build new shopping centers. Although new projects are announced, but the timing of their implementation is not specified, analysts point out. They also recalled that in 2021 the country has launched a significant part of shopping facilities, the construction of which was launched a few years ago. As a result the rate of new construction reached a maximum value for the last five years, that is 21 format shopping centers with a total retail area of 687 thousand square meters were launched.

Cushman & Wakefield added that a gradual decrease in construction activity is expected in the office market.

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Author: Ksenia Gustova