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H1 2018 | Russia | St. Petersburg | Retail Market

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In the first half-year, the number of existing classical shopping centers remained at last year’s level. Although some of the largest operators announced new formats to reduce space, vacancy rates in quality shopping centres are continuing to decrease due to the activity of traditional retailers. A trend in Q2 was the expansion in shopping centers concentrated on entertainment and fashion with new concepts: play and educational areas for children, edutainment, and fashion spaces for adults. Retail space may grow this year due to the increase in specialised shopping centres. The opening of new centres remains at the minimum level of 2017, and the vacancy rate will not exceed 3%. The specialised shopping centre segment may increase due not only to furniture centres but also the constantly growing fashion segment: by the end of the year we expect the second phase of Outlet Village Pulkovo to open with a total area of 6 500 sq m.

H1 2018 | Russia | St. Petersburg | Retail Market

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