In H1 2016 one new shopping centre, Riviera, of 91,200 sq m GLA was delivered in Moscow.
6 new shopping centers are announced to be delivered by the end of the year. Five of them have a high probability of opening in Q3.
By the end of the year, shopping centre completion in Moscow may reach about 400,000 sq m.
In H1 2016, the vacancy rate in shopping centres remained flat at 9.3%. Minor growth of vacancy rate in new projects occurred due to completion of Riviera shopping centre.
In existing shopping centers delivered before 2014 the vacancy rate has been stable, at 7% for the last six months.
Several types of rental scheme are currently used in the market. They include various combinations of base rental rates and/or % of turnover as well as different contract currency options: US dollars, rubles, US dollars with a fixed exchange rate or corridor for a defined period.