11 May 2021
In the first three months of 2021, the retail real estate market in the Moscow region was replenished with 2 shopping centres – Gravitacia (GLA 18,500 sq m) and Solis (GLA 11,000 sq m). The availability of retail space for Moscow region residents increased in proportion to the change in the population of Moscow and the nearest satellite cities to 616 sq m per 1,000 inhabitants on January 1, 2021. By the end of the year, the indicator is expected to grow to 652 sq m. In 2021, the share of new retail facilities in classic shopping centre formats is expected to increase (up to 76%), with the smallest share in TIH formats (3%). The average vacancy rate for Q1 2021 gradually decreased by 0.2 percentage points and amounted to 10.5% (compared to 10.7% in Q4 2020). The decline was due to an improvement in the epidemic situation in the country and a reduction in the backlog of pedestrian traffic in shopping centres, especially during holidays. This year, four international clothing brands entered the Moscow market at once, including Shikkosa from Italy, Northland from Austria and The Frankie Shop from the United States, as well as Ecco, which opened its first children's clothing store in Moscow, Ecco Kids. In Q1 2021, one brand left the Russian market – Bath & Body Works.