Warehousing availability in the capital is poor in comparison with European cities

03 февраля 2014
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The project presupposes a construction of 81 thousand square meter industrial park. Total land plot area of the warehouses in operation is 300 thousand square meters. Over 80% of these properties are located in Moscow and St. Petersburg. Commercial property availability rate in Moscow region is 1.57 square meter of retail per 1 square meter of warehouses. In Europe, this rate is 1.8-2.7 square meters. The data has been provided by a think tank.

Some European capitals, such as Helsinki, Copenhagen, London and Madrid, are big logistics and transport centers, which is why their warehouse availability rate is even higher: 15-25 square meters per 1 square meter of retail, or 5-15 thousand square meters per one thousand of residents. However, one should not forget that in big cities, warehouses supply both retail and the entire European cargo turnover.

The experts believe that we can keep up with modern Prague if the commercial property rate remains the same, but total warehousing area will be increased up to a million square meters.

However, commercial property will be sustainably growing for at least 2-3 years, so by 2015, commercial property land plot area will increase by 1.4-1.5 million square meters. Currently, warehousing market lacks approximately 3.1-3.5 million square meters of land plot area, according to the research data. Even if we take into account current development rate, developers will only be able to meet this demand in 3 or 4 years.

Developers believe that the next stage will be the transition from 'developer's market' to 'leaseholder's market'. This would mean that a market is more developed. In time, construction rate will fall from 1 million to 600-700 thousand square meters a year.

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