In 2024, the Moscow area has seen a robust growth in the commissioning of shopping centres. It is expected that by the end of the year the new supply will increase significantly, which will lead to a higher per capita retail space.

In St. Petersburg, the commissioning of a record retail space over the past four years has been expected this year; however, the opening of several facilities was postponed until 2025. The plan calls for the opening of two new neighborhood SCs in the St. Petersburg market. These facilities will not only become platforms for retail, but will also operate as community centres, enriching the market with gastronomic spaces, entertainment and sports operators, as well as social services. Both foreign and domestic brands continue to actively enter the Russian market, with Moscow remaining a priority region for the launching of new stores. The highest interest is shown by brands from China, Turkey and Italy. New Russian brands continue to expand, especially in categories such as clothing & footwear and sporting goods.

Changes in the tenant mix are taking place. There is growing interest in categories related to lifestyle - beauty and health, homewares, fitness, while in other segments the average area of stores is shrinking. Shopping centers are also actively transformed as areas for leisure and unique activities are being created to attract shoppers and turn SCs into multipurpose spaces. This trend highlights the importance of adapting shopping centres to changing consumer preferences, which allows them to retain relevance.