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Real Estate Projects
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As for the retail and warehouse space – a lot depends on the success of the project. Shopping centers and logistics facilities in good locations and with the correct concept will continue to be in demand tenants. But at least successful projects of any significant problems with occupancy, which would entail an equally significant reduction in rental rates: in warehouses – up to 10-15%, to trade – up to 20-30%. Of course, for reduction projects will be minimal, but unsuccessful, and may completely lose tenants. Konstantin, managing partner of Blackwood: – During the first half of 2008, the market continued to develop rapidly – growing demand for office projects from Western investment funds that attract investments primarily in the ready-made objects. There was no significant trend of the year has been a significant increase in rental area.
One of the dominant trends of development in 2008 was the consolidation of projects: from project applications for more than 50% have an area of over 200 thousand square meters. m. continued active reorganization of industrial zones (the tendency to de-industrialization). Began in fall 2008 financial crisis, quickly made major adjustments to the trend of commercial real estate market, and a couple of months it from actively growing into a dying, a tendency to fall: paper fold many projects under construction and frozen, reducing the number of transactions in all segments, reduced the level of effective demand, and after it formed downward trend in prices in all segments of the market.
