A new world will be built
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Throughout 2018, shopping malls, retailers and brands talked about the ongoing transformation of the market and built a new world. What came of it?
QUANTITY AND QUALITY
The volume of commissioning of shopping centers in Moscow in 2018 will be the minimum for the last six years, reports Oksana Kopylova, Head of Retail and warehouse Real estate Analytics JLL. Against the background of the postponement of the opening date of a number of facilities, the forecast has been reduced to 137 thousand square meters of leased space. The new offer of the outgoing year in Moscow for the current mo is formed by the shopping center "Kashirskaya Plaza" (71 thousand sq. m.), the mall "Mile" in Zhulebino (19 thousand sq. m.) and the shopping center of the district format opened in the first half of the year.Petrovsky» (8.5 thousand sq. m.), as well as the shopping center «Arena Plaza » (17 thousand sq. m.) opened in December. By the end of December, it was announced the opening of two more shopping centers «Galeon » (14 thousand sq. m) and «Krasnoprudny » (about 7 thousand sq. m.).
In the Russian regions in 2018, the company's experts note the opening of the "Fairy Tale" shopping center in Krasnodar (29.5 thousand square meters), the "Park" shopping center in Rostov-on-Don (25.8 thousand square meters) and the "Green" shopping center in Krasnoyarsk (23.6 thousand. sq. m.). At the end of December, the launch of the first regional outlet center Brands’ Stories in Yekaterinburg is expected. The area of the first stage is 10.3 thousand square meters, the opening of the second is planned in 2019.
The largest of the new facilities in 2018 was the Kashirskaya Plaza shopping center, which opened in May, on Kashirskoye Highway, d. 61, building 2, which is a project of the reconstruction of the shopping center "Capitol" of the company "ENKA", – agrees Alexandra Chirkaeva, headdriver of the direction of rental of retail premises in Moscow and the Moscow region, department of retail premises CBREin Moscow. Among other significant projects of the year, it is worth noting the Pushkino Park shopping center (30 thousand square meters). Low commissioning and stable demand for rental of retail space from retailers in 2018 caused a decrease in the average vacancy in shopping centers by 1.2 percentage points to 7.8%. At the same time, in the best shopping centers, the occupancy rate is traditionally close to 100%. The openings of the Astoria-Armada projects in Orenburg and El Rio in Samara, announced this year, will probably be postponed to 2019.
In addition, according to Maris in association with CBRE, in 2018, the second stage of the "Outlet Village Pulkovo" (6,700 sq. m.) and the shopping center "Parnas City" (10,000 sq. m.) was opened in St. Petersburg. These are the only shopping centers opened in the region since August 2016.
also speaks about the "anti-records of the Russian marketAlexander Morozov, CEO of S.A. Ricci. "Small objects are being introduced, the construction cycle is increased," the expert lists. The average usable area of shopping centers opened during 2018 was 25.5 thousand square meters, which is one third less than last year's figure. Developers are not focused on the construction of large shopping centers, their attention is focused on small district facilities. The opening of many shopping complexes, the completion of which was planned for the current year, was postponed to 2019. Among them are the shopping center "Island of Dreams", "Watercolor Pushkino", "Fairy Tale" (as part of TPU "Rasskazovka") and others.
"However, in 2018 we noted that good shopping centers as investment assets have become popular," continues Mr. Morozov. In particular, according to preliminary data, about 1.2 billion US dollars of transactions on retail facilities were implemented during the year (or 45% of the total volume). What we are already stating is the expansion of the entertainment component, the renewal of public spaces, often even a reconstruction, as well as the emergence of new "non-traditional" tenants (dance schools, English courses, MFC and etc.), designed to generate additional traffic. At the same time, the new shopping center is on average much smaller in area than those objects that were introduced earlier.
To be continued.
Text author: Ekaterina Reutskaya
Photo: pixabay
