Ural-Hermes: Yekaterinburg office space market to face more competition

9 April 2014 (10:19)

April 9, 2014. According to a market research on the local business centers conducted by Ural-Hermes, a consultant firm, the amount of office space commissioned in Yekaterinburg is currently twice as large as the amount of demand, which means the market competition is about to get more fierce, the firm’s press service reports.

‘In 2013, Yekaterinburg office space market increased by 120,000 sq m. Developers are planning on launching the same amount this year. At the same time, only 50,000 to 80,000 sq m worth of office space gets rented yearly, which, analysts believe, means there is a more pronounced trend for competition in this market segment,’ the press service says.

Despite the fast-growing rate of commissioning buildings, Class C office buildings still dominate the market, according to Ural-Hermes. Their share comes to 52% of all office space, while the share of Class A buildings is 3%, the share of Class B+ buildings is 10%, and the share of Class B buildings is 35%.

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