Russia

Russia’s real estate investment volumes increased by 24% YoY to more than USD1.6bn in H1 2019 compared to USD1.3bn in the previous year, says JLL. In this, Q2 2019 volume reached USD643m, 13% higher than in Q2 2018 (USD568m). “Growth in H1 2019 can be explained by the closure of several large transactions. Increased stability...

JLL presents the Q1 2019 Moscow region warehouse market update. The vacancy rate has been declining for the past two years. According to real estate advisory, the vacancy rate in the Moscow region warehouse market declined by 0.3 ppt in the first three months of 2019, to 4.2%. The take-up volume in Q1 2019 was 348,000 sq m, o...

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...

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...

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...

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...

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.

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...

Stockmann signed an agreement to sell its Nevsky Centre shopping centre property on Nevsky avenue 114-116 in St. Petersbur, to PPF Real Estate . Due to delays in the closing process, the Nevsky Centre transaction will not be completed by the end of the year as earlier estimated.

JLL has appointed Anders Liljenstolpe as Managing Director of its Russia & CIS business, effective December 3, 2018. He will succeed Tom Devonshire-Griffin, who will join JLL’s International Capital Markets team.

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...

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...

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...

The volume of vacant warehouse space on the Moscow region market declined to 932,000 sq m, or 5.3% of the total modern warehouse stock in Q3 2018, according to JLL. The decline in Q3 was 0.7 ppt, or 105,000 sq m.

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...

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 ...

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...

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...