“ENOUGH QUALITY OF QUALITATIVE OFFICE AREAS, BUT COMPETITION WILL BE ABOVE FOR THEM”

Evgenia Luchitskaya, official representative of A-Store Estates, a Neopolis business district developer, on the situation in the Moscow office market, last year’s results, prospects and expectations. – Eugene, today I would like to talk about the market of high-quality business centers, mainly class A, about vacancy, demand, rental rates … And the first question that worries everyone. The year 2018 has become famous for its low entry. Why, in your opinion, such a failure? – This is really another anti-record for the last 10 years. The reason is simple: we are emerging from a crisis that, of course, has affected the expectations of developers. In 2014-2015, rental rates “grew down”, the market not only became ruble – it collapsed, a huge amount of vacant space was formed. Therefore, the costs that went into the construction of large office buildings did not pay off. The market has changed dramatically. Continue reading →