Russia

CBRE Research Department indicated the key trends of the Russian regional Industrial and Logistics market for 2017 and gave forecast for 2018. According to the report, key demand drivers in 2017 were companies of different business types. Business activity of e-retailers exceeded its pre-crises level, amounting to 262,000 sq ...

According to JLL, at the end of 2017 the warehouse vacancy rate on the Russia regional markets, excluding Moscow and St. Petersburg, declined to 4% from 8% at the end of H1 2017. For comparison, the vacancy rate in the Moscow region reached 8.3% in Q4 2017, in St. Petersburg 4.8%. The Moscow region now has 2.4 times more avai...

JLL analysts estimated the vacancy rate in the main Moscow high streets at 9.0% in Q4 2017, 0.6ppt below the level a year earlier. Petrovka Street and the Garden Ring were the leaders in improving occupancy in H2 2017, with vacancies declining by 4.3ppt and 1.2ppt, respectively.

JLL presents the 2017 results of the quality hotel market in Moscow, Moscow Region, and St. Petersburg as well as forecast for 2018. „Overall the situation on the Moscow quality hotel market looked quite optimistic in 2017, however the growth slowed down three times in all operational indices compared to 2016,“ said Tatiana V...

According to JLL, Moscow office take-up was recorded at 508,000 sq m in Q4 2017, a record high since the beginning of 2013. “Total 2017 office take-up volume exceeded our forecast and reached 1.28 m sq m, up by 21% YoY," says Elizaveta Golysheva, National Director, Head of Office Agency, JLL, Russia & CIS.

According to JLL, warehouse completions in Moscow region amounted to 297,000 sq m in Q4 2017. In 2017, a total of 532,000 sq m were delivered, half the 2016 volume and the lowest since 2006. Among the largest projects completed in 2017 are new buildings in Orientir Sever 2 warehouse complex (83,000 sq m), Klin Logistics LP (5...

Fashion House Outlet Centre Moscow enters 2018 with an additional leased area of 1,258 sqm. The scheme’s impressive portfolio is enriched by renowned international and local brands: Under Armour, Paul Smith, Dino Ricci, Choupette and Milavitsa. In addition, Time Kids shapes leisure shopping experience, offering children’s ent...

According to JLL, only three shopping centres entered the Moscow market in 2017: Vegas Kuntsevo (113,400 sq m ), Vidnoe Park (24,000 sq m), and the retail part of Fili Grad multifunctional complex (12,000 sq m). The resulting annual figure of 150,000 sq m was the lowest in the past five years. It is worth mentioning that ther...

Russia’s real estate investments reached USD1.9bn (c. €1.6bn) in Q4 2017, up 88% YoY (USD1.0bn or c. €840m in Q4 2016), according to JLL calculations. This brought the full year volume to USD4.6bn (c. €3.85bn), up 9% from USD4.3 bn (c. €3.6bn) in 2016.

CBRE has appointed Kate McMurtrie as an Executive Director within its EMEA Advisory & Transaction (A&T) management team. McMurtrie will have responsibility for business development and key occupier client accounts across the EMEA region with a specific focus on growing and expanding CBRE’s unrivalled occupier service offering...

Marriott Hotels has debuted in Voronezh with the opening of Voronezh Marriott Hotel. Situated in the south of Russia on the Voronezh River, the city is recognised as an important centre of culture, science and industry in the region. This latest opening strengthens Marriott’s portfolio across the country and promises to enhan...

After the sale of the Russian portfolio seemed to be a protracted marathon process, Immofinanz has now performed a sprint on the last meters. Only four weeks ago the sales report was published, now the closing took place in St. Petersburg: The Moscow shopping centers have officially been transferred to the Russian Fort Group ...

Ikea Centres Russia records 250 million people visiting its 14 Mega branded shopping centres and 85 Russian, and international retailers including Superdry, Lindt, and Julius Meinl joining Ikea Centres Russia’s portfolio. Over €50 million has also been invested in creating new food & beverage space at Mega malls, transforming...

Shopping centre development activity in the first half of 2017 increased total floorspace across Europe to 160.8 million sq m at the midpoint of the year, according to Cushman & Wakefield. In the first half of the year 825,000 sq m was delivered to the market in Central & Eastern Europe (CEE), compared with 344,000 sq m in We...

The end is finally in sight: It is „no further reduction of liquidity through equity contributions for the Russian portfolio“ necessary, this is one of the key messages in the current Immofinanz sales announcement. The Austrian real estate group was able to sell its unprofitable retail portfolio in Moscow to the Russian Fort ...

According to JLL, 74,583 sq m of quality office space was delivered to the market in Q3 2017. The bulk of this, 56,949 sq m, was Class A buildings (Oasis and Fili Grad business centres). The overall Q1-Q3 2017 completions were 95,726 sq m, 63% lower YoY (256,953 sq m in Q1-Q3 2016).

According to JLL, the vacancy rate in the main Moscow high street corridors remained roughly unchanged in Q3 2017 since the previous quarter level, at 8.9% versus 8.8%. Thus, the completion of street renovation works has not yet triggered a rise in occupancy on central retail streets. Meanwhile, the vacancy rate declined by 1...

Only a few decades ago hotels were not considered as investment-attractive assets. There were more attractive opportunities available within the real estate sector, with a shorter return on investment period requiring smaller investment. While the real estate market became more saturated, and the economic cycles shortened and...