Total trading area in Moscow reaches 3.5m m2 in Q2 2010

2010-07-26

The total supply of trading area in Moscow was boosted by the addition of 193,900 m2 of new space in Q2 2010, thus bringing the total up to 3.443m m2, according to the real estate consultancy Magazin Magazinov (associated with CB Richard Ellis). This total area is accounted for by a total of 105 shopping centres and means that there is 326 m2 of trading area per 1,000 people in Russia’s capital.
Q2 2010 saw the addition of three new shopping malls in Moscow: Viva (21,900 m2 trading area), the Armada furniture trading centre (45,000 m2), and the Vegas trading centre, which assumes the position of Moscow’s fourth-largest trading centre (total area of 398,000 m2, of which 130,000 m2 is trading space).
In Q2 2010 the Moscow’s retail market remained stable and continued on its gradual but upward trend – a statement supported by the diminishing amount of empty trading space in Moscow. In Q2 2010 empty trading spots accounted for 5.5% of total trading space, which was 1 p.p. decrease quarter on quarter.