.png "In 2023 the smallest number of shopping centers were put into operation: only 9 in 9 months")
During the nine months of 2023, only nine shopping centers were put into operation (total area: 233 thousand square meters). This is the minimum for the entire monitoring period. The market has also seen an increase in publicity about the sale of shopping centres: around 200 objects are being auctioned. This is due to a sharp decline in business profitability.
The analytical company INFOLine provides data for 2023, comparing it with indicators from previous periods. All of them are significantly better: already in 2021 more than 1.4 million square meters were put into operation. m, and in 2015, for example, the level reached 5.5 million square meters. meter.
According to the Russian Council of Shopping Centers, two hundred properties are being sold today due to low profitability. Many of them sell to the creditor banks to which the business has been transferred. For example, Sberbank sells 19 local shopping centers of the Regions group, Trust sells Riviera from the capital, and PJSC Bank St. Petersburg wants to buy Madagascar from Togliatti from Spectrum Plus as debt settlement.
Owners’ desire to get rid of shopping centers may also be related to the need to repair and reuse areas. According to INFOLine, around 50 million square meters. m require modification, since those built in 2022-2011. Shopping centers are already physically obsolete.
At the same time, analysts note that, contrary to all trends, in September 2023 Gazprombank completed the acquisition of 14 MEGA shopping centers with a total area of more than 2 million square meters from Ingka Centers, which left the Russian market. and one of the largest is the shopping and entertainment center “Gallery” in St. Petersburg, on the contrary, it was transferred to the Mubadala investment fund of the United Arab Emirates.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
