Russia

Jennifer E. Garrett

As published in Scotsman Guide's Commercial Edition, December 2010.

The office and retail markets are leading recovery in Russia. Jones Lang LaSalle reports that total real estate investments increased 12 percent year over year and may reach $4 billion by the end of the year, according to The Moscow Times. Office space accounted for 36 percent of investments, while 18 percent of investments went into retail. In another positive trend for the market, retail sales increased 3.4 percent this past first half, according to the Federal State Statistics Service. The Vegas shopping center, currently the largest mall in Russia, opened in Moscow this past June.