CBRE has characterised the Russian retail property market as 'cautious' at the start of 2014 with just four shopping malls with total gross lettable area of 101,000 m2 delivered in the first three months.

CBRE has characterised the Russian retail property market as 'cautious' at the start of 2014 with just four shopping malls with total gross lettable area of 101,000 m2 delivered in the first three months.

About 75% of new retail space supply was accounted for by are Immofinanz's Goodzone shopping centre and VDNKH shopping malls in Moscow, which were re-scheduled from 2013. The total new delivery of shopping centre space is expected to reach 600,000 m2 in 2014, topping the record set in 2009.

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