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The volume of absorption of retail space in the Moscow region will be a record since 2019

Объем поглощения торговых площадей в Московском регионе станет рекордным с 2019 года

Department stores and multi-brand stores are the ones that are most active in taking up retail space, Kommersant reports . Marina Zezelina/Shutterstock/Fotodom

Marina Zezelina/Shutterstock/Fotodom

CMWP predicts that by the end of this year, the volume of net absorption of retail space (the difference between the amount of sold and rented and vacated space) in the Moscow region will reach 490 thousand sq. m. – this is the highest figure since 2019. The vacancy rate will decrease from 9% to 7.6%.

The record opening figures are explained by the completion of the process of replacing foreign tenants who left the Russian market. In St. Petersburg, the vacancy rate will also remain at a low level – about 5%.

At the same time, the number of visitors to Russian shopping malls in the week of July 29 – August 4 decreased, according to Focus Technologies, by 2% year-on-year. However, in Moscow and St. Petersburg, on the contrary, it grew by 3% and 5%, respectively. Shopping mall owners are preparing for the return of shoppers after the summer lull.

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