No trade center is under construction in 55 out of 176 Russian cities, what accounts for 30%, with population exceeding 100,000 people, Cushman & Wakefield consulting company’s report says.
“Just isolated projects in large cities have been fully constructed and are put into operation. The market activity is mostly connected with optimization of the existing trade centers concepts, in particular, design upgrade and the area increase”, says the document.
At the same time, in a number of large cities the population practically isn’t provided with high-quality retail areas.
For example, the city of Makhachkala doesn’t have any high-quality trade center, the plans for the construction of the first one haven’t been announced. In Penza, there is no more than 53 sq.m of quality malls per thousand of the city residents.