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Moscow retail centre hits the market17/09/2009 Eurasia Investment and Industrial Group have placed the Paveletsky shopping and entertainment centre, at Paveletskaya Square, Moscow, on the market. The opening of the 120,000m2 scheme, which costs around $200m (€136.5m) to develop, is planned for 2010 and 35,000m2 remain to be let. Prime retail yields in the city are around 13%. But Natalia Oreshina, managing director of Moscow real estate consultant Art Properties, said: "The investment market is stagnant and yields difficult to predict. Rental levels in the city are also very unpredictable and everything is changing from month to month." According to research from DTZ, investment in Moscow fell by 57% in the second quarter of this year; compared with the second quarter of 2008, the fall was 92%. "The volume of deals fell to $230m in comparison with the first quarter when $540m was transacted". Offices accounted for 95% of this total and retail 5% EuroProperty News
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Duncan Allison, Salisbury House, London Wall, London EC2M 5QQ, United Kingdom. VAT Reg Number GB 810 1621 86.
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