CBRE, global real estate advisor, together with Neopolis business district prepared the H1 2017 New Moscow office market report.
According to the report, the volume of quality office market outside the MKAD is approximately 1.3 million sq m, 32% of which is Class A offices. In addition to that over 57% of the total office supply in this segment is located outside of the Moscow Ring Road and is concentrated in business centers of New Moscow.
The volume of office real estate market of New Moscow increased by almost two times and reached 472 200 sq. m. from 2014 to the second half of 2017.
Elena Denisova, Senior Director, Head of Offices, CBRE Russia said: “The office market of New Moscow is underestimated. In the return of centralization and rental rates reduction in the central part of the city, tenants are aiming to have offices inside the Third Ring Road, basically not realizing all the benefits that New Moscow if offering. Meanwhile, this submarket continues its development and has a high potential.”