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2018 | Year-end Review | Russia | St. Petersburg | Retail Market

Against the background of no new quality projects in the classic shopping centre segment, by the end of 2018, the vacancy rate decreased by 2.1 p.p. to reach 3.1% in the fourth quarter. Vacancies in high-quality shopping centres for the fifth year in a row are moving towards zero. In 2018, the total supply of retail space was increased only by specialised shopping centres, including one of the largest furniture centrse in the city, Bogatyr, in the Primorsky District (GLA 40,200 sq m) and the second phase of Outlet Village Pulkovo on the Pulkovo Highway (GLA 6,700 sq m).