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Russia dominant in shopping center development



Russia is dominating the shopping center development pipeline with construction projects in excess of five million square meters underway.

The first six months of 2014 has seen a massive 1.88 million m² of new shopping center space being developed across Europe.  Global property advisor, CBRE, state this type of development has mostly been concentrated in emerging markets, with a huge portion of 84% occurring in Central and Eastern Europe (CEE).

Russia dominant in shopping center development.jpg   

During 2013, more than 4.5 million m² of center space has opened across Europe, with Russia, Turkey, Poland and France experiencing the largest completion respectively.  Russia and Turkey have remained the busiest markets, as more than 60% of the completions during 2013 were based in these two countries.  During 2013, Russia developed 1.5 million m² of new stock.  In Turkey, more than 2.6 million m² of center space was being constructed in H1 2014.  The high construction rates are due to continuing developer interest in regional cities and an improved economy.

According to CBRE the activity levels in development in Europe are similar to the previous year as regards location, with new construction being dominated by CEE.  The larger projects are occurring in major cities across Turkey, with smaller schemes taking place in the outer regions. 



More about shopping malls in Russia



DAY BEFORE YESTERDAY, USA:
Mars Retail Group has announced upcoming discoveries at Disney Springs, Mall of America, and Berlin.
Jan 23, 2020, Slovenia:
The volume of investments in the construction of the shopping and entertainment center was about 150 million euros.
Jan 22, 2020, India:
H&M's collaboration with a famous Indian designer is an indicator of the company's interest in this rapidly growing market.
Jan 21, 2020, United Kingdom:
The fashion chain marks the growth of sales and intends to consolidate the results with the opening of 18 new outlets.
Jan 17, 2020, France:
The retail space was created in collaboration with Galeries Lafayette department store.
Jan 17, 2020, USA:
Gap has changed its mind about making Old Navy a separate company.
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