Trade area developers like to sell large places, reports Ural Chamber of Real Estate
20 April 2007 (14:00)
New commercial estate projects are now implemented in a better way, reports Ural Chamber of Real Estate: developers split a trade center in little areas and sell them as early as at the construction stage only in 6 out of 33 cases now and prefer to sell large places (at least 2,000-square-meter ones) to professional investors who will then act as the anchor tenants of the mall.
The market, however, is still experiencing some problems with the trade area shortage: most malls are used to the fullest, despite the fact that the average rent comes to 1,868 RUR per square meter a month.
The market, however, is still experiencing some problems with the trade area shortage: most malls are used to the fullest, despite the fact that the average rent comes to 1,868 RUR per square meter a month.
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- Square meter of office space comes to between $1,000 and $3,500 in 2005, Ural Chamber of Real Estate reports