Q3 2023 | Moscow | Retail Market. Shopping Centres
+971 52 356 99 60
Q3 2023 | Moscow | Retail Market. Shopping Centres
11 октября 2023
At the end of nine months of 2023 the new supply in the capital city's shopping centers amounted to 50,700 sq m. In Q3 2023, the long-awaited opening of one of ADG Group's projects - Zvezdny Meeting Place SC (GLA 4,300 sq m) - occurred on the market. The vacancy rate in Q3 stood at 11.9% (-1.7 p.p. vs. the previous period). Four new international brands entered the Russian market: from Turkey (OXXO, AVVA), Belarus (Comintern) and Finland (Lassie).
Shopping centers are trying to attract traffic using non-standard tenants. For example, VR-spaces, fitness clubs, children's centers, as well as SPA-salons with swimming pools and thermal baths. The tendency towards the lower impact of the seasonal factor on the attendance in shopping malls is quire salient. The dynamics of the attendance index in summer 2023 ranged from -1% to +4% versus the same period of the previous year. When choosing a place for everyday shopping, consumers prefer small shopping centers close to their home or shops on the ground floors of residential developments.
Sign up to the latest market updates
Get cutting-edge market analysis from our research team
More reports