Page 47 - July 2020

Russian The largest country in the world by area, Russia spans more than one-eighth of the Earth’s

inhabited land area, stretches across eleven time zones and borders sixteen sovereign
Retail Evolves nations. The country remains a beacon of retail in these difficult times as it continues to

see ongoing change. Here, RLI will highlight some of the recently opened projects and a
number of developments that are proposed in the country.

efore Covid-19, Cushman & Wakefield’s beginning of the year and the current events have become have created a sustainability strategy that by 2030 will allow
‘European Shopping Centres: The Development a serious challenge for the retail real estate market. While them to run meeting places that will be more people and
Story’, suggested construction activity in Russia 190,000sq m of retail space was commissioned in Q1 2020, planet positive. Supported by the global resources of Ingka
B was expected to remain stable, with 1.4 million which was one of the highest commissioning rates in the last Centres, they have grown to be the largest shopping centre
square metres of new space in the pipeline. In a departure five years, they expect a number of previously announced developer in Russia and its MEGA branded shopping centres
from the trend seen in 2019, new projects in 2020 were projects to be postponed to next year. are located in Russia’s 11 largest cities and welcome over 237
scheduled to launch in Yekaterinburg, Perm, Grozny and Nowadays, there’s a lot of talk about how the world is million guests annually. Given Covid-19, these MEGA centres
Kirov, among other cities. changing and how the retail industry has to adapt to new are still closed, but they have continued to provide free home
However, the effects of coronavirus are wide reaching trends in order to survive. The idea of “meeting place” is a deliveries for at risk and elderly customers unable to leave
and will have a toll on developments around the world for hot topic – but it’s not a brand-new concept. In this changing their homes. Meanwhile in locations where malls have begun
the foreseeable future. According to a report by Colliers climate amidst Covid-19 and the ever-growing focus on to re-open, Ingka Centres has vowed to invest €1.6M into
International entitled ‘Retail Market Moscow, Q1 2020’ the sustainability, Ingka Centres, together with Ingka Group, we community programmes to reunite local neighbourhoods.

PERM RETAIL & LEISURE COMPLEX
Perm, Russia
Developer: Prospect Perm

Russia JULY 2020 RETAIL & LEISURE INTERNATIONAL 47