MAPIC 2011 - MOST ATTRACTIVE SUBMARKETS FOR NEW RETAIL DEVELOPMENT IN RUSSIA

Over the last year, retail property market has been in the stage of active growth, but does this development follow the pre-crisis pattern? The administration in two capitals changes and attitude of the authorities toward retail property also undergoes change. Opportunities for new development in Moscow, the most interesting city for development, were hardly reduced. At the same time, both developers and retailers have development plans and financing for development, creating opportunities for development of other sub-markets. One such market is the Moscow region. It includes 80 towns, 16 of which are fairly large (more than 100 000 citizens), and a total population of seven million. A significant portion of these citizens work in Moscow and earn a high income. Proximity to Moscow is also an advantage for capital developers and national retailers. All these factors create a positive backdrop for the development of the region. Other interesting sub-markets with development potential are retail parks in big Russian cities and classic shopping centers in smaller towns with populations ranging from 300 000 to 500 000.

 

Tags: MAPIC, real estate, property, Reed MIDEM, Russia, Maxim Gasiev, Colliers International, Marina Isaeva, Auchan Russia

 



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