Main article: Real estate (Russian market)
Office real estate in St. Petersburg
Main article: Office real estate (St. Petersburg market)
2024: T-Bank rented 25 thousand square meters for its office. m co-working space in Moscow. The deal was estimated at ₽12 billion
In early October 2024, it became known that T-Bank entered into the largest transaction in the Moscow office real estate market in 2024, renting 24.6 thousand square meters. m in the coworking space of the Iskra Park business center on Leningradsky Prospekt. The lease agreement was signed for a period of seven years, and the total value of the transaction is estimated at ₽12 billion. Read more here
2023
The volume of investments in office real estate in Russia increased by 39% and reached 136 billion rubles
At the end of 2023, the volume of investments in office real estate in Russia reached 136 billion rubles. This is 39% more compared to the previous year, when the size of investments was estimated at 97 billion rubles. Such data are reflected in a study by IBC Real Estate, the results of which TAdviser got acquainted with at the end of October 2024.
It is noted that investments in real estate assets of all types in the Russian Federation in 2023 reached 833 billion rubles, which was a record result since 2000. In the distribution structure by region, the largest amount of investments fell on Moscow - 538 billion rubles, or 65% of the total. In St. Petersburg, the figure amounted to 140 billion rubles, which corresponds to a share of 17%. 155 billion rubles, or 18%, were invested in real estate assets of other regions.
The share of investments in office real estate in 2023 amounted to approximately 16%. At the same time, the main trend was the purchase of buildings for their own needs. The share of such transactions in the total volume of investments rose to 58% against 24% in 2022 and amounted to 58 billion rubles in monetary terms, which is more than three times higher than the same value in 2022. At the same time, 83% of office purchases "for themselves" fall on companies with state participation, or on the structures of the state apparatus itself. Another 19 billion rubles in total investments fell on redevelopment. Analysts emphasize that office real estate is an understandable and interesting asset for a wide range of investors. The largest transactions in the segment were:
- iCity Business Center (Time Tower): total area - 47 thousand square meters, transaction amount - 22-25 billion rubles;
- SkyLight Business Center (Tower A): total area - 30 thousand square meters, transaction amount - 12-15 billion rubles;
- Pulkovo Sky Business Center: total area - 76 thousand square meters, the amount of the transaction was not disclosed.[1]
For the first quarter in Moscow, almost 300,000 square meters of offices were bought or rented - a five-year maximum
For the first quarter of 2023, almost 300,000 square meters of offices were bought or rented in Moscow - a five-year maximum. Companies return employees to offices, the place of outgoing Western corporations is occupied by Russian ones.
The average size of office sales has halved in two years to 841 sq. m
According to IBC Real Estate, the average size of office sales has halved in two years: from 1696 sq. m in the first quarter of 2021 to 841 sq. m in the first quarter of 2023. According to the results of the quarter, only 4% of transactions took place with areas of more than 5000 square meters. m, 32% - in the range from 1000 to 5000 square meters. m. Now offices are bought in small cuts.
2022
Named Top 10 developers in terms of new office construction in Russia
At the end of 2022, Stone, a developer of commercial and residential real estate of business and premium class in Moscow, took first place in sales of office facilities and second in terms of the total area of business centers, which should be commissioned in the next four years. This is evidenced by the results of the research of the Arbiter Awards, released in mid-July 2023.
According to Forbes, from January 2023, Stone began work at two sites in the Russian capital. On Vavilova Street, not far from TPU "Gagarin Square," the construction of the Stone Leninsky business complex has started. In addition, the developer began work on the site of the last tower of the Stone Towers office block - Tower D, 19 floors high. Plus, in the north of Moscow, the Stone Dmitrovskaya complex is being designed. The total area of the listed buildings is approximately 163 thousand square meters: this is the largest indicator among all market participants.
In second place in the list of ten leading developers in terms of the volume of new office construction in Russia is the Hals-Development group of companies. In May 2023, she received permission to build a class A office complex Dubinin 'Sky (Paveletsky business district), which will include two 25-story towers. Their total area is approximately 110 thousand square meters.
Closes the top three largest developers KR Properties, which continues to develop the business quarter "Dawn" in the historical part of the Presnensky district of Moscow. Three buildings with a total area of approximately 90 thousand square meters will be erected here.
ICM Company (48 thousand square meters), Forma (a subsidiary of PIK Group of Companies; 43 thousand square meters), A101 Group of Companies (42 thousand square meters), Pioneer (32 thousand square meters), Upside Development (30 thousand square meters), Ultima Development (27 thousand square meters) and Dominanta (21 thousand square meters).[2]
Stable level of construction of new offices despite the crisis in Ukraine
The construction of office real estate in Russia feels noticeably better than trade, but without progress for the last 10 years - they are building about 750-800 thousand square meters of office real estate.
The global trend in this segment is negative, as the growth of remote work has led to a significant drop in demand for commercial real estate.
Many companies transfer business processes to remote, online. Russia has so far been less affected by these trends. Unlike shopping centers, there are very few modern office real estate, so it is far from saturation here, plus the factor of remote work is not so relevant in Russian specifics.
In Moscow, at the end of the year, 341,000 square meters were commissioned. M of new office premises. 41% reduction
At the end of the year, 341,000 square meters were commissioned in Moscow. M of new office premises - this is 42% less than last year, and more than two times less than the plans announced at the beginning, calculated the consulting company IBC Real Estate. Analysts at NF Group confirm these figures. Read more here.
The share of ICT companies in the Moscow office real estate market for the year decreased from 30% to 9%
By the end of 2022, the share of companies operating in the field of information and communication technologies (ICT) in the Moscow office real estate market amounted to 9% against 30% a year earlier. Such data were released by Nikoliers analysts at the end of December 2022.
According to experts, the main demand (about 48%) for offices in the capital of Russia fell on companies in the production and mining sector, government agencies and NGOs, while in 2021 their share was 19%.
Asterus (Asterus Lab) previously calculated that the IT segment in 2022 could reduce the share in demand for offices in Moscow from 30% to 18-20%, the share of state-owned companies will increase from 2% to 8-10%, and the mining sector - from 2% to 7-8%.
Olesya Malakhova, Deputy Director of the Nikoliers Office Real Estate Department, explains the decline in demand from IT companies by the decision of some international players in this area to leave the Russian market, adjusting development plans or transporting some employees abroad. Kirill Babichenko, head of the services department for CORE.XP owners, adds that many have transferred employees to remote work.
 | Now it is difficult to determine the share of staff who will return to work in the office, so companies find it difficult to predict the area they need and take a break, "he told Kommersant (publication of December 23, 2022). |  |
The redistribution of demand for offices occurs against the background of a general decrease in interest in such real estate. According to NF Group estimates, in Moscow in 2022 the area of the premises entered the market will exceed the volume of 150-160 thousand square meters. m Such indicators are noted for the first time in the entire history of observations, analysts indicate. In 2021, according to NF Group estimates, the area of rented and rented offices exceeded the number of vacated by 700 thousand square meters. m.[3]
Sharp decline in the introduction of new offices in Moscow
The volume of commissioning of new offices in Moscow by the end of 2022 will amount to 240-340 thousand square meters . m, which is two to three times lower than the average annual indicator over the past 20 years (758.1 thousand square meters ), according to an Asterus study in November 2022. This is almost three times lower than the volume of new space, the commissioning of which was previously announced this year. IBC Real Estate expects a decrease in the commissioning of space by 40% year-on-year, to 347 thousand square meters . m.
See also
- Warehouse real estate (Russian market)
- Commercial real estate (Russian market)
- Real estate (Russian market)
Notes
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