baltic states and belarus real estate market review - Colliers
baltic states and belarus real estate market review - Colliers
baltic states and belarus real estate market review - Colliers
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Real Estate Market Review 2011 | Belarus Retail Market<br />
Vacancy rate<br />
in Minsk shopping centres<br />
Source: <strong>Colliers</strong> International<br />
7%<br />
6%<br />
5%<br />
4%<br />
3%<br />
on the <strong>market</strong>. The majority of larger retail<br />
properties (Materik, OMA, ProStore) were<br />
constructed <strong>and</strong> occupied as built-to-suit<br />
projects. The shopping centres Coolman <strong>and</strong><br />
Siluet have been on the <strong>market</strong> since 2009<br />
<strong>and</strong> by the time of official opening were<br />
partially occupied. Thus, in the 1HY 2010 the<br />
vacancy rate remained stable with a slight<br />
decrease.<br />
tendencies AND FORECASTS<br />
◊<br />
◊<br />
◊<br />
◊<br />
Completion of large-scale retail objects/<br />
regional shopping centres.<br />
Redevelopment of operating shopping<br />
centres with outdated concepts.<br />
Entry of foreign food of <strong>and</strong> non-food<br />
operators on the <strong>market</strong>.<br />
Stability of rental rates.<br />
2%<br />
1%<br />
◊<br />
Stability of vacancy rates due to the<br />
completion of new projects.<br />
0%<br />
June 2006<br />
June 2007<br />
June 2008<br />
June 2009<br />
June 2010<br />
◊<br />
Development of retail chains <strong>and</strong> the<br />
construction of shopping <strong>and</strong><br />
entertainment object in regional centres<br />
ouside of Minsk.<br />
CONTACTS: ANDREY PAVLYSHKO - a.pavlyshko@colliers.by l ANDREY ALESHKIN - a.aleshkin@colliers.by<br />
<strong>Colliers</strong> International | p. 86
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