28.01.10
CBRE experts presented the 2010 Moscow Commercial Real Estate Market Overview during the current ULI Moscow Young Leaders Group Event that successfully took place on January 28, 2010 in Buddies Café, Moscow.At the beginning of the conference Arnaud Dubois, Chairman of ULI, Russia, delivered a speech on the institute’s activity in Russia and forthcoming seminars and events organized by the ULI Moscow Young Leaders Group.
The panel discussion devoted to the current real estate market conditions in Moscow and forecasts was lead by Darrell Stanaford, Managing Director, CBRE, Russia & Ukraine, Justin Berry, Head of Investment, Tolga Guzelce, Head of Office Services Group and Christopher Peters, Director of the Research department.
Developers, investors, consultants and other real estate market professionals constituted a target audience for the conference. Together with the CBRE experts they participated in a panel discussion and exchanged opinions on the possible stabilization of office rents in 2010, the balance of deals in Moscow and the regions as well as forecasts about investor sentiment in Russia in 2010-2011.
CBRE experts emphasized that due to an anticipated decrease in delivery in 2010 and stable demand for space, they forecasted a stabilization of office rents. Therefore, Class A prime office rents will be approximately $800 sq m/year, Class A – approximately $500 sq m/year and Class B – approximately $200 sq m/ year. In addition, according to CBRE, Moscow office yields stand at 12%, yields in the retail sector – 13%, and in the industrial sector – about 14%. CBRE said that the 2009 Russia investment volume was €790 mln, €498 mln being registered in office sector.