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Jones Lang LaSalle presents Q2 2013 retail real estate market results
Moscow, 10 July 2013 — The Moscow market of quality shopping centres was enhanced with delivery of 107,200 sq m of GLA in Q2 2013. According to Jones Lang LaSalle this figure exceeds the completions levels of Q2 2012 and Q2 2011 when the market did not receive any new quality space.
The largest scheme completed in 2013 is RIO Leninskiy (40,000 sq m of GLA). Additionally two outlet schemes, Fashion House Outlet (28,500 sq m of GLA) and Vnukovo Outlet Village (16,500 sq m of GLA) were open in Q2 2013.
The announced pipeline for H2 2013 is about 150,000 sq m of quality space. However, the launch of several projects could be postponed.
Tatyana Kluchinskaya, National Director, Head of Retail Department, Jones Lang LaSalle, Russia & CIS, comments: “If all the announced pipeline projects are completed on time the annual completion will exceed 250,000 sq m in 2013 which will be the highest figure in three years. The Moscow market received 149,000 sq m of new space in 2011 and 232,000 sq m in 2012. We are currently witnessing progressing revitalization of new development in retail real estate which will reach the highest point in 2014 when the market will see about 600,000 sq m of new quality space.”
Natalia Kopeychenko, Head of PR
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