The industrial real estate market in Russia continues to demonstrate rent growth and acute shortage of vacant space. Thus, the weighted average base rent in Moscow has already exceeded RUB 11,000/sq m/year.
The tightening of the macroeconomic situation in the country makes the construction of storage facilities a more complicated process. Thus, some of the warehouse projects, originally scheduled for commissioning this year, have been pushed back to 2025. Yet the anticipated aggregate new supply will stay at a record level this year - 5.3 million sq m.
Lease and sale transactions concluded on the market for the initial nine months of the current year total to 4.1 million sq m, which almost repeats the record level of the previous year. The given fact highlights robust activity and demand from various sectors of national economy for up-to-date warehouses.