Among the major retail projects commissioned in 2016 were the Riviera mall (100,000 m2), the Riga Mall (80,000 m2) and the Okeania mall (60,000 m2). Several openings were postponed from 2016 to 2017, such as Vegas Kuntsevo, the 4Daily mall in Mytishchi, the second phase of the Smolensky Passage multi-functional complex, the Baby Store (a mall specialised in baby products, as well as the full-fledged launch of Butovo Mall tand the Vidnoye Park retail park. 

Two major Moscow projects started construction in 2016 – Enka's Kashirskaya Plaza multi-functional complex, currently under construction on the site of the demolished Kapitoliy mall, and the major amusement park Ostrov Mechty on the Nagatinsky floodplain, which will also include a shopping mall.

The construction of several large shopping malls is planned to start in 2017 in the Moscow Region. These include Hines' Sky Mall on Kievskoye Shosse, Immochan's Akvarel mall in the town of Pushkino and and the second phase of RPHF's currently operational Dream House  mall.

According to Colliers International, the vacancy rate as of the end of 2016 in existing shopping malls in the Moscow Region grew by 3% year over year and reached 11%. The rise in vacancy is associated not only with the commissioning of new retail properties with a fairly high level of vacant space, but also rotation, as well as the closure of stores of existing tenants in shopping malls that have been operational for a long time. Given the positive trend of filling retail space in new shopping malls, as well as a relatively small amount of the planned commissioning in 2017, according to our forecasts, the vacancy rate in quality shopping malls could be reduced by 2 percentage points to a figure of 9%.

Anna Nikandrova, partner, Colliers International Russia: “In terms of shopping malls that  opened in the Moscow region in 2016, the average was 35%-45% actually operational tenants. However, vacant space in the new facilities is actively shrinking, and in Q4 2016, the average actual occupancy rate reached 70% in these facilities. In 2017, we expect the start of construction of innovative projects adapted to the current economic situation – there will be fewer projects and less competition among new projects. In order to launch successfully, developers will have an even more balanced approach to the choice of format to attract the most efficient contractors for all stages of project implementation, from concept to launch and project management. At the same time, there will be mass reconception and renovation of existing shopping malls.”