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Eastern Europe

Vacancy rate in Moscow shopping centres approaches 4%

The vacancy rate in Moscow shopping centres declined to 4.3% in Q1 2019, which is the lowest level since the middle of 2014, according to JLL. This is due to the low number of completions in 2017-2018, when only eight new schemes (278,000 sq m[1]) entered the market; the figure is half the level of new shopping centre deliver...
Thursday, 11. April 2019

Moscow City office vacancy rate is expected to stay low at 7-9%

The high demand for offices, including government sector, has led to reduction of the vacancy rate by two thirds during 2016-2018, to 7.3%. Although the announced completions in the next five years is significant, the vacancy rate will stay stable at this low level, which will support further rental rate increase, according t...
Tuesday, 19. March 2019

Radisson Collection Hotel celebrates opening in Moscow

Radisson Hospitality AB to celebrate the opening of the Radisson Collection Hotel, Moscow with 501 guest rooms and suites. Located on the bend of the Moskva River, the hotel was formerly the tallest in Europe. The rebrand is now complete and the hotel has become the latest addition to the group's exceptional collection of pre...
Monday, 11. March 2019

European hotel rooms see strong growth in value with gains across most cities in 2018

Hotel values across Europe registered another strong year in 2018 showing 3% growth and reaching new highs, according to the annual European Hotel Valuation Index (HVI), compiled by HVS. Although a more modest growth than that of 2017 at 3.9%, 2018 saw recovery for many cities as well as a levelling off in values for some mar...
Tuesday, 26. February 2019

Offices & Logistics are the engines of growth in European real estate

Europe’s commercial real estate markets maintained their positive trend across most markets and property types during the fourth quarter of 2018, according to Cushman & Wakefield’s latest DNA of Real Estate report. The European sector, however, was more subdued.
Wednesday, 30. January 2019

Stockmann has sold the Nevsky Centre property in St. Petersburg

Stockmann has completed the sale of its Nevsky Centre shopping centre to the new owner PPF Real Estate . The transaction included Stockmann’s fully-owned Russian subsidiary, OOO Stockmann Nevsky Centre, which owns 100% of the Nevsky Centre property. The transaction price was €171 million and the transaction had a positive cas...
Monday, 28. January 2019

Radisson Hotel Group adds Radisson Royal Hotel, Moscow to its Collection portfolio

Radisson Hotel Group has added one of Moscow's legendary landmarks, the Radisson Royal Hotel, Moscow, to the exceptional Radisson Collection, effective January 2019. Reserved only for the group's most outstanding properties, Radisson Collection's global portfolio boasts a glittering array of local exceptional hotels and one-o...
Wednesday, 28. November 2018

Radisson Blu Olympiyskiy Hotel opens its doors

Radisson Bluto announce the partial opening of the newly built Radisson Blu Olympiyskiy Hotel, Moscow. „One of the hotel's many fantastic features is the exceptional view of sights such as the Kremlin, Moscow City's skyscrapers, Stalin's famous Seven Sisters high rises, and the green zone in the city center. The panorama from...
Wednesday, 14. November 2018

YIT starts a new residential project in Tyumen

YIT has started construction of a new residential project in the city of Tyumen in Russia. Located in the city centre the approximately one-hectare plot will see the construction of two 17- and 21-storey residential buildings and a car park. Named City Zen, the project will consist of 292 apartments, most of which will be two...
Wednesday, 24. October 2018

Stockmann to sell Nevsky Centre in St. Petersburg for €171 million

Stockmann plc has signed an agreement to sell its Nevsky Centre shopping centre property in St. Petersburg to PPF Real Estate for a purchase price of €171 million. The value of the Nevsky Center property in the balance sheet on 1.1.2018 was €181 million. The transaction includes Stockmann’s fully-owned Russian subsidiary, OOO...
Tuesday, 16. October 2018

All segments in the Moscow & St. Petersburg hotel market see prices increase in H1 2018

The busiest hotels in Moscow in the first half of this year were Upscale, Economy and Upper Midscale segments (78, 77 and 76% respectively), according to June & H1 2018 Moscow & St. Petersburg hotel market presented by JLL. Upscale hotels in St. Petersburg also reached the maximum occupancy, selling 69% of the rooms in H1, 1 ...
Wednesday, 8. August 2018

Moscow Central Business District vacancy rate reached ten-years minimum

JLL presents the H1 2018 Moscow office market update. According to JLL experts, office vacancy rate reached the lowest level since Q3 2018. In Q2 2018, the vacancy rate on the Moscow office market continued to decline amid low completions and rising take-up, says JLL. The current vacancy, at 12.0%, is the lowest since Q3 2008...
Friday, 3. August 2018

3,800 branded hotel rooms opened in Russia, CIS and surroundings

JLL has analysed the activity of hotel markets in Russia, CIS and surrounding countries on branded openings in H1 2018: “2018 in Russia is the year under the sign of the World Cup, and an active introduction of hotel rooms to the markets in Moscow, St. Petersburg, Saransk, Samara, Kaliningrad, Nizhny Novgorod and Rostov-on-Do...
Tuesday, 24. July 2018

Only 16% of planned warehouse projects for 2018 were delivered in Moscow region in H1

Warehouse completions in Moscow region in Q2 2018 amounted to 148,000 sq m, comparable to 142,000 sq m delivered Q2 2017. In the first half year of 2018, completions totaled 216,000 sq m which is only 16% of the volume announced for delivery in 2018m, while up by 8% YoY, according to JLL. About 56% of Q1 2018 completions were...
Friday, 20. July 2018