RFNY2013: Invest In Moscow - Real Estate

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Presentation was made during the Russia Forum New York 2013 series - “Invest in Moscow: Doing Business in Russia’s Capital” which was held at the Princeton Club of New York on October 28th.

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RFNY2013: Invest In Moscow - Real Estate

  1. 1. Department for External Economic and International Relations of Moscow Moscow’s Real Estate 2013 Anatoly Valetov Deputy Head of Department Moscow Investment Presentation in New York City, October 28, 2013
  2. 2. General Overview (1)   First half of 2013 was a record high for the commercial real estate market. Total investment $3.81 billion, 88% of all investments are in the Moscow region. Primary volume of investments (1st half 2013) were in the retail and office segment – $3.4 billion. Department for External Economic and International Relations of Moscow 2
  3. 3. General Overview (2) BIGGEST DEALS 1ST HALF 2013 Segment Project Volume, $ million Seller Investor Retail Metropolis 1,100-1,200 Capital Partners MSREI Оffice Four Winds 360-380 Snegiri / AFID Millhouse Оffice Olimpiya Park 340-360 O1 Properties Casperskay Lab Оffice Hermintage Plaza 260-280 Retail Aura (Novosibirsk) 220-250 Renaissance RosEuroDevelop Construction ment Оffice Aquamarine Phase III (50%) 220-240 Super AFI Development Passion Ltd Hotel Renaissance Moscow Olympic 100-130 N/A Azimut Hotels Logistics Tomilino 80-90 GHP BIN Group Forum Properties N/A Capitalization rates Cap. rate (A class) - 8.5% for office, 9.25% for retail, and 11.5% for logistics. 250-450 basis points higher than London and Paris. Commercial risks are closer to Europe and further from BRICS. Department for External Economic and International Relations of Moscow 3
  4. 4. Retail (1) General Info: 1st half 2013 – 520,000 sq. m. have been built High attendance Positive outlook Retails and developers are positive Department for External Economic and International Relations of Moscow 4
  5. 5. Retail (2) Trade operators: Segments «food», «everyday equipment», «clothing», «cinema» OUTLOOK In 2013 103 Shopping malls with a total volume of 3,155,752 sq. m. in 58 cities in Russia. Largest markets are Moscow and Ekaterinburg (>1milllion) Novokuznetsk, Tyumen, Irkutsk (500,000 – 1 million) Department for External Economic and International Relations of Moscow 5
  6. 6. Offices Lease rates are up 5%. New 388,000 sq. m. in 1st half 2013 Plans for 2nd half 2013 – 600,000 sq. m. TOTAL STOCK MOSCOW / 13.44 million sq. m. VACANCY RATE / 13.15% AVERAGE RENTAL RATE, CLASS A / US$ 870 1Н 2013 DEMAND (TAKE-UP) / 868,063 sq. m 1Н 2013 NEW CONSTRUCTION / 341,041 sq. m Department for External Economic and International Relations of Moscow 6
  7. 7. Warehouse Market Supply (class A, B): Moscow – 7.2 million sq. m; St. Petersburg – 2 million. sq. m.; other cities – 2.6 million. sq. m . Most projects are in Moscow region – 61% and St. Petersburg region – 18%. Department for External Economic and International Relations of Moscow 7
  8. 8. Hotel Hotel rooms: total 32,000 rooms (11,000 brands). Next 3 years the stake of brand hotels will grow up to 40%. Russia’s hotel industry capacity rate: 45-49%. Price for mid-scale segment is 110 USD/night, upscale segment – 160 USD. Department for External Economic and International Relations of Moscow 8
  9. 9. Department for External Economic Activity and International Relations Address: 13, Tverskaya St., Moscow, 125032 Tel.: +7 (495) 633-68-66 Fax: +7 (495) 633-68-65 www.dvms.mos.ru www.investinmoscow.ru E-mail: dms@dms.mos.ru INVEST IN MOSCOW

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