Shopping Centers Russia Сентябрь 2020 Сентябрь 2020 | Page 72

Opening soon

The long-awaited shopping centers

About 25% of the shopping spaces announced for opening in 2020 have already been postponed to next year. Nevertheless, the market should see several interesting projects this year and next year. SCRussia talks about how the land lies with the construction of shopping centers in Moscow and in regional cities, as well as what objects should be looked at and what trends they set.

Developers' plans in Moscow and in the regions

In the first half of 2020, four shopping centers were put into service in Moscow (152,5 thousand square meters of GLA in total), according to Knight Frank. The company reports that the commissioning of 28% of the previously announced shopping spaces (59 thousand square meters) was postponed to a later date. For example, the opening of Vnukovo Premium Outlet, as well as a number of objects of redevelopment of the ADG group cinema chain, has been postponed to the next quarters.

According to the stated plans of developers, the scope of new construction in Moscow by the end of this year was supposed to be 633,6 thousand square meters, but these forecasts are obviously not destined to come true. Experts say that the reduction of the commissioning from the project can be from 10% to 30%.