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Trade Deficit

Expert: the conditions for investing in commercial real estate in the Far East are gradually improving. The situation will change radically after a while - 2-3 years

Trade Deficit

Vladimir Pantyushin

Head of Economic and Strategic Studies for Russia and CIS Jones Lang LaSalle
Last Saturday, the long-awaited event took place in Khabarovsk - the opening. Today this complex has no analogues in the city. It is a large-scale complex with a height of 4 floor area 28,5 thousand square meters. The opened center offers its visitors a variety of products, entertainment, as well as a variety of leisure options - in addition to shops, there are a fitness club, food court, children's room with entertainment. Such large and new brands for the Khabarovsk Territory, such as M.Video, The Snow Queen, O'Stin, TomFarr, Ekko, Moscow Jewelry Factory, L'Etual ". In general, the occupancy rate of the center today is more than 90%. Placing a satisfied large number of companies on the center's area is all the more advisable, because the rental price of retail space in it is relatively low.

There are also plans for the future: at the beginning of 2017, MALL. Expertise & Consulting "plans to begin construction of the second stage of the project of the shopping and entertainment center" Na Pushkina "with a total area of ​​about 60 thousand square meters. In this context, it should be noted that both the building in which the complex began to work, and, most likely, its second building, which will be built in the foreseeable future, envisage not only retail space, but also office premises. 

Recall that according to plans, the opening of the center was to take place in the I-II quarter of 2016. As you can see, it happened a little later. The reason for this is the requirements of large tenants who have presented their requirements for the area of ​​the center. But, one way or another, this is a significant event not only for Khabarovsk, but also for the Khabarovsk Territory in general. Due to the fact that, like the entire Far East, Khabarovsk today experiences a shortage of large-format retail space. At the same time, not only retail real estate, but also commercial real estate as such is not enough in the Far East today. It seems that investments could have given a serious impetus to the commercial real estate market in the Far East - moreover, given the orientation of the modern "Far Eastern" policy towards the countries of Northeast Asia, including investments in this region. Is this possible - the EastRussia correspondent asked a Russian real estate specialist - the Head of the Department of Economic and Strategic Research for Russia and the CIS Jones Lang LaSalle Vladimir Pantyushin.

"It should be understood that when it comes to the real estate of the Far East, it is mainly about its residential, rather than commercial real estate. At the moment, there are very few commercial real estate properties on the territory of this macro-region, and almost all deals with those that exist With the participation of Russian investors, there are almost no foreign investors here.In general, investments in commercial real estate in the Far East, in comparison with investing in its residential real estate, is a very small investment. This is characteristic not only of the Far East, but in general for investments in commercial real estate in the Russian regions, where they come in a small amount.This is clearly seen in the rating of investments in commercial real estate in Russia: the top positions in it are occupied by the Russian "capitals" Moscow and St. Petersburg, followed by Novosibirsk, after which, with a large margin - other Russian cities with over a million people. "What to say about cities with a population of 200-300 thousand people - they do not occupy high positions in the rating," - the story l Vladimir Pantyushin.

At the same time, the expert noted that at one time the commercial real estate of such Far Eastern cities as Vladivostok and Khabarovsk attracted certain investments. The main activity was observed in the segment of shopping centers. Interest in commercial real estate of the Far East from investors continues to show up today. However, there have been no recent commercial real estate deals in this region. At the same time, the reason for their absence is not that there are no corresponding projects for investment in the Far East in the field of commercial real estate - they are available in quite a large number, including even those put up for sale. The problem is in economic and course uncertainty in Russia.

"As for foreign investors, in particular from Asia, for them, in principle, these two problems, and not the existence of a number of projects for investment in commercial real estate, are the main obstacle to investment," - drew the attention of EastRussia correspondent Vladimir Pantyushin.

At the same time, according to the expert, the conditions for investing in commercial real estate in the Far East are gradually improving. Of course, the situation will change radically only after some time - after 2-3 years, and, as it was historically led - after its improvement in Moscow, St. Petersburg and cities with over a million population in Central Russia. In this case, it is not about the entire Far East, but only about the largest and most developed cities - Khabarovsk and Vladivostok.
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