NEW SHOPPING AREAS: MOSCOW SETTING ITS OWN RECORDS

21.03.2014

In 2014, the capital is getting a record number of new shopping malls.

A large consulting agency Knight Frank gathered data for the table displaying how the areas for commissioning skyrocketed comparing ot previous years.

In total, there will be 23 new shopping malls open in Moscow and the Moscow region. It is clear that it will not happen during one day only and will be done as far as the projects are being commissioned. Total area of new shopping areas will be around 2 mln square meters. And only half of them will constitute useful area, i.e. for rent, and that is 1 mln sq.m. It is interesting that comparing to present, the previous year showed minimal quantities of areas for commissioning. Thus, minimal and maximal records turned to be neighbors in this schedule.

Activity of Moscow construction market has wavy structure, notice experts. Approximately once in 5-6 years developers work hard during a year or two and after that for 3-4 years construction of new commercial areas is relevantly quite.