H1 2023 | Moscow | Retail Market. Shopping Centres
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H1 2023 | Moscow | Retail Market. Shopping Centres
06 июля 2023
The supply of new quality retail space in the first half of 2023 amounted to 46,300 sq m (GLA) due to the opening of three shopping centers. Last year’s trend for preference given to neighborhood and community centers persisted.
The new supply is getting increasingly diverse: apart from classic shopping malls with the entertainment component, shopping arcades are commissioned within other real estate segments. Russian and foreign brands pursue the policy of aggressive expansion. Sixteen foreign brands entered the Russian market during the initial six months of 2023.
In May the footfall showed positive dynamics in Moscow shopping malls, having increased by 2% year-on-year. The vacancy rate in Moscow shopping malls was going down: this indicator dropped by 2.1 p.p. relative to the previous quarter to 13.5%.
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