On September 8, 2017, a meeting of members of the ICSC (International Council of Shopping Centers) was held in the headquarters of the Council in London. This time, the meeting was dedicated to the Russian retail market. Managing Partner of Capital Legal Services Vladislav Zabrodin, who is the Chairman of the Russian ICSC Committee, was the main speaker.  

Vladislav shared details of the present situation on the Russian shopping center market according to the results of the first half of 2017 with the participants of the meeting. He focused on the analytics of the commercial real estate market of Moscow, St. Petersburg and the regions which show the most active dynamics in this field.

Regardless of the economic downturn, the analytical data shows that the Russian commercial real estate market has already hit bottom and is now recovering, although sometimes at a slow rate. According to research by JLL, the volume of investment transactions on the Russian real estate market in the second quarter of 2017 amounted to USD 1.4 billion, which is double the result of the same period last year.

To recap, in February 2017 the ICSC organized an official meeting with the players of the commercial real estate market in Moscow, where it confirmed its interest in Russia. This meeting was the first in a series of events planned in Russia in accordance with the new concept of the Council.