Office Construction Time Improved in Moscow

About 560 thousand square metres of offices will be built in Moscow in 2021, according to the Head of the Office Real Estate Department at JLL Alexey Efimov, TASS reports. 

“The volume of commissioning in 2021 will be larger, last year we had absolutely nothing. We think that in 2021 half a million office premises will be completed and commissioned,” Efimov said.

According to the data presented at the “Commercial Real Estate 2021: New Horizons” conference, the commissioning of offices will grow by 120 per cent in annual terms. As Efimov stated, 560 thousand square metres became the maximum figure since 2015.

The expert also mentioned that the demand for offices in Moscow this year will grow by 20-30 per cent compared to 2020, as lease and sale deals for 1 million square metres of offices will be concluded. At the same time, it is expected that the share of vacant office space will grow to 13-14 per cent.

Ru-Main, 25.02.2021 

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