In Russia, every second shopping center on the verge of closing - Izvestia

Every second shopping center can go bankrupt in Russia, Izvestia write with reference to the participants in the market of trading real estate.

According to Avito Real Estate, since the beginning of the year the number of shopping centers with an area of ​​10 thousand m² and more for sale increased by about 14%. Now about 200 buildings throughout Russia are put up for sale. Oleg Voitskhovsky, manager of the Russian Council of shopping centers, believes that another 70-100 objects can soon be added to them.

Izvestia interlocutors argue that every second shopping center is at risk due to high competition, reducing income and downstream. As a rule, their owners take loans for opening a business, after which they are paid for a long time.

By the number of shopping centers put up for sale, St. Petersburg leads. Over the past year, their number has grown by about 50%there, said Oleg Tsotov, head of the Avito Real Estate Commercial Real Estate. The shopping center is also actively sold in other cities, including in the regions. The prices for them vary from 1 billion to 8.3 billion rubles.

Most often, shopping centers are faced with problems due to the misses of their leadership in the concept and management, as well as high competition in location. Foreign brands affected their position and departure from Russia. According to the consulting company Nikoliers, it took or suspended its business up to 30% of foreign retailers. Izvestia interlocutors note that when the threshold of 30% of empty areas, the shopping center begins to “slide into a bankrupt pit”.

Evgenia Khakberdeva, director of the NF Group trade real estate department , claims that due to the closure of stores, the traffic meter may be 30% lower than in the 2021 pandemine, and 40% lower than before the pandemic.