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Jones Lang LaSalle announces the Q2 2013 results
Moscow, 19 July 2013 – Demand for industrial real estate in Moscow region is growing but is limited by supply. Take-up amounted to 366,000 sq m in Q2 2013 (16% YoY growth). As a result there is almost no vacant space either in existing projects (vacancy rate of 0.57%), or in H2 2013 pipeline. According to Jones Lang LaSalle experts there are only 90,000 of 650,000 sq m of H2 2013 projects still available to lease.
212,000 sq m was delivered to the market in H1 2013 (25% YoY growth). Despite the large volume of completions overall vacancy rate continued to drop. All Q2 2013 projects (new buildings in PNK-Vnukovo of 88 000 sq m. and third phase of Souh Gate IP of 20 000 sq m) were pre-let or sold before completion. As of H1 2013 total warehouse supply reached 9m sq m.
Natalia Kopeychenko, Head of PR
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