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Moscow, October 16, 2018. Stockmann Group has signed an agreement to sell its Nevsky Centre shopping mall in Saint Petersburg to a Czech company PPF Real Estate in a transaction valued at EUR 171 million. The aim is to close the transaction by the end of 2018 after receiving approval from the Russian Federal Antimonopoly Service (FAS). Colliers International acted as exclusive advisor to Stockmann Group in the sale of Nevsky Centre.
Colliers International, the international real estate consulting company, was named the winner of the PROESTATE & CRE Federal Awards 2018, the main real estate award in Russia, in the "Consultant of the Year" and "Property Management Company. Facility Management" categories. Also, the shopping and entertaining center FORUM in Ulan-Ude, manages by Colliers International, won the "Best Small Shopping Center" category. Three "golden bricks" awards became a symbol of recognition of the high achievements of Colliers International in the past year.
Moscow, July 27, 2018 – Over the past two years, the share of foreign tenants at the Moscow International Business Centre (MIBC) has decreased from 34% to 22%. Total leased space by foreign companies fell from 218,000 m2 in H1 2017 to 175,000 m2 in H1 2018. The decline is due to current economic realities, in which a number of foreign companies that previously leased offices at the MIBC preferred moving to different offices as part of optimising leasing costs over extending existing lease agreements. Foreign companies that left the business district are in the pharmaceuticals, banking, and IT sectors, among others.
Moscow, July 25, 2018 – The average room price (ADR) in H1 2018 increased by 42.4% year over year and reached 9,334 roubles per room and the revenue per available room (RevPAR) was 6,676 roubles per room, which is 52.1% higher year over year. The average occupancy of Moscow hotels in H1 2018 was 71.5%, an increase of 4.6% year over year.
Moscow, July 17, 2018 – In H1 2018, 661,100 m2 of space were leased and sold in Moscow's office property sector, which is 50% of the amount of leased and purchased space for the entirety of 2017, and 120%-180% more than in H1 2014-2017. The revival in the market is primarily due to Russian companies increasingly moving to new offices and consolidating existing divisions.
Moscow, July 10, 2018 – In H1 2018, the total amount of quality retail space in Russia's regions (cities excluding Moscow and St. Petersburg) was 119,000 m2 in six professionally-managed malls, which is a ten-year low for a first half-year. Colliers International forecasts that the amount of completed space in the provinces in 2018 will be 474,700 m2, which is 10.8% lower than in 2017 and almost 40% less than the figure forecasted earlier in 2018. The Yevropeisky in Novosibirsk and Golden Park in Nizhnevartovsk were among the facilities the completion of which was postponed to 2019.
This is the 20th prize Colliers has received from these awards, but only the 2nd as the best consultant in Moscow.
Moscow, April 13, 2018 – The amount of new retail space in Moscow's professionally-managed shopping malls continues to plumb record lows in Q1 2018, second only to Q1 2016, when there were no openings in the capital. Moscow's retail property market gained only one professionally-managed facility in the first three months of 2018 – the MILA shopping mall in the Vykhino-Zhulebino district, with a leasing area of 19,160 m2. Colliers forecasts that the new retail space in Moscow and its satellite cities will total 321,000 m2 in 12 professionally-managed malls by the end of 2018.
Moscow, April 9, 2018 – In Q2 2018, the World Cup will have a significant impact on Moscow's street retail property market. The influx of tourists will affect vacancy and tenants' business. Vacancy will decrease primarily in the most popular tourist locations, including Arbat, Nikolskaya, Tverskaya, Kuznetsky Most, Novy Arbat, Bolshaya Dmitrovka, Petrovka, etc. The surge in demand for street retail space could lead to a short-term increase in lease rates of up to 10%-20%.
Moscow, April 6, 2018 – In Q1 2018, the percentage of vacant space on the Garden Ring continued to shrink – 8.1% compared to 10.9% at the end of 2017. The decrease in vacancy occurred mainly due to the occupancy of vacant space on such streets as Zemlyanoy Val and Smolensky Bulvar. Meanwhile, overall vacancy in the city centre remained at the late-2017 level and amounted to 7%.
Moscow, April 4, 2018 – In 2017, the United Arab Emirates recorded a significant increase in the tourist flow from key tourist markets (Russia, India and China). At the same time, these countries showed differing trends in terms of visiting different emirates. For example, the maximum growth in the number of Russian tourists compared to 2016 – 110% – occurred in Dubai, while the Indian and Chinese markets doubled their values in Abu Dhabi. In general, the share of the annual flow from Russia is remained at 8%-9%. The most popular emirates among Russians are Ras Al Khaimah, Dubai and Sharjah.
Moscow, February 27, 2018 – Colliers International has been appointed as the exclusive consultant for the investment sale of the Gazprom-Media holding company's media centre. Gazprom-Media is considering a direct sale of the property, as well as an investment sale with leaseback, with the signing of a long-term lease agreement with the holding company.
Moscow, February 9, 2018 – Hotel occupancy growth in in all major resorts in Egypt increased in 2017 and reached 2010 levels. The highest growth was in Hurghada (up 51%) and Sharm El Sheikh (up 33%). It is remarkable that such growth is due to the “low base” effect, given the negative trend of previous years. According to CAPAS, the number of tourists visiting the country in 2016 fell by 44% year over year to 5.4 million tourists, and the share of Russian tourists fell from a stable 32%-35% to almost zero values.
Moscow, February 1, 2018 – In 2017, 28 shopping malls with a leasable area of 780,000 m2 opened in Russia – 50% less than in 2016. At the same time, regional cities (excluding Moscow and St. Petersburg) accounted for 532,000 m2 or 68% of the total completions – a 13-year low. Such a significant downturn is due to fewer new projects initiated in the crisis conditions of 2014-2015, and some projects being frozen or postponed. Growth of high-quality retail space in Russia has been shrinking for the third consecutive year.
Moscow, January 31, 2018 – The total area of transactions in Moscow's office property sector in 2017 was 1.27 million m2, up 32% year over year and the highest figure since 2014. Favourable market conditions in the form of reduced lease rates and sales prices and general stabilisation of the economic situation led to an increase in the area of office blocks sold. Colliers forecasts that the total area of transactions could reach 1.21 million m2 in 2018.
Moscow, January 30, 2018 – Some 408,000 m2 of office space was completed in 2017 in Moscow, 31% more year over year. The increase is the first upturn since 2014. Colliers International forecasts that 264,000 m2 of office space will be completed in 2018, which is a record low.
Moscow, January 25, 2018 – In 2017, eight international-brand hotels opened in Moscow with a total number of 1,884 rooms, which is 55% more year over year. The growth in supply is largely due to the approaching 2018 World Cup, which will also significantly impact growth of all operational figures. Colliers International forecasts that average room price will increase by 40%-50% during the championship, while in general, in 2018, occupancy will grow an average 8%-10%, the average room price (ADR) will increase by 16%-18%, and room profitability (RevPAR) will increase by 18%-20%.
Moscow, January 24, 2018 – The main driver of the street retail market's revival in 2017 was food service, which accounted for about 34% of all absorbed vacant space for the year. Beauty and health was in second place with 14%, while grocery was in the third place with 10%.
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