Support The Moscow Times!

Moscow Retail Moves Outward

The Moscow development pipeline is drying out, and developers are focusing on smaller projects of less than 5,000 square meters of gross leasable area, according to Cushman & Wakefield.

At the beginning of the year, developers announced that 12 quality shopping centers with a total leasable area of 328,000 square meters were to be delivered in 2011. In the first three quarters, only three of them were delivered to the market.

The current pipeline for 2011 has been reduced to 227,000 square meters, with six quality projects totaling 91,000 square meters of leasable area planned to be delivered in 2012-13.

The overall situation in Russia looks much better. In the first three quarters, 14 projects (three in Moscow and 11 in the regions) were delivered, with 524,000 square meters of leasable space, seven of them in the third quarter.

More than 2 million square meters of leasable area is to be built in 2012, according to Cushman & Wakefield.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.