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Jones Lang LaSalle presents the results of Q3 2012 on retail market
Moscow, 04 October 2012 - According to Jones Lang LaSalle research, no new high quality shopping centres were opened in Moscow in Q3 2012 for the second consecutive quarter. However, Moscow Region has seen the opening of several schemes, including an absolutely new format for the Russian market - outlet shopping centre.
No new schemes were opened in July-October 2011 either. As a result, completions volume reached the lowest historical level of 126 250 sq m in 2011.
Andrey Privezentsev, Head of Retail Research, commented: “Zero volume of new completions forces us to review our forecast for 2012. According to our estimations 4 shopping centres with a combined GLA of 140,000 sq m are planned to be opened in Q4 2012. Consequently, total completions will likely reach 185,000 sq m (against our previous forecast of 255,000 sq m) as the GoodZone SC opening is now planned for 2013.”
Completions in Moscow shopping centres
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