The beginning of 2025 has been active for the Moscow metro area, where several major facilities with high vacancy rates have been commissioned, whereas by the year’s end the construction volume may reach 245,900 sq m, which would be a record for three recent years. The commissioning of five projects have also been announced in Saint Petersburg; if they are opened on time, the new supply will amoiunt to 136,000 sq m there, which would be a record-high indicator for the recent decade.

The reconception of shopping centers remains the key trend with a focus on creating multipurpose spaces, including public areas, wellness facilities, offices and warehouses for E-Commerce, to ensure long-term competitive advantage.

For the first time in a long period the vacancy rate showed insignificant growth, which is caused by the opening of new projects with high vacancies. The latter, in turn, can be attributed to the slowdown of retailer expansion rates. Companies refocus to making the existing points of sale bubbling and improving the client experience. With this purpose in mind, they actively develop omnichannel solutions.