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Jones Lang LaSalle announces the Q3 2012 results
Moscow, 17 October 2012 – New completions in Q3 amounted to 176,500 sq m (24% up YoY) increasing total stock to 14.5m sq m, reported Jones Lang LaSalle.
This new supply consisted of 11 buildings: with two of them being Class A (Aquamarine III – office area – 55,400 sq m and Olympic Hall – office area – 12,500 sq m). The remaining 62% was formed by nine Class B office buildings (the biggest included: Riga Land, Phase II, bl. B – office area – 22,800 sq m, building on Novoryazanskaya 24 – office area – 25,700 sq m).
Source: Jones Lang LaSalle
Around 400,000 sq m were completed in Q1-Q3 2012. Of this only 23% was located in the Central Business District (CBD) submarket, as opposed to decentralized areas that received a significant part of the new completions - around 77%.
By the end of 2012 some 12 office buildings will have entered to enter the market, contributing to total new office space delivered in 2012 of another 313,000 sq m. Class A buildings that are scheduled be completed over the next 3 months are: ALCON, Country Park, Phase III, CityPoint. As a result the annual new completion in 2012 will total around 713,000 sq m (a 18% increase as compared to 2011).
Natalia Kopeychenko, Head of PR
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