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"Moscow-City" is a dynamically developing business center of the capital, which attracts business representatives from all sectors. Residential real estate, apartments , office and retail space are concentrated here, the administrative sector is well developed and a well-thought-out infrastructure has been built. This is an ideal place for business negotiations, concluding deals and subsequent leisure. In this regard, analysts predict the greatest activity in the entire history of "Moscow-City" in the coming years.
What is the reason for the increased interest in commercial real estate in the business center?
As statistics and analytical research show, there is some increase in demand for commercial space at the beginning of 2021. However, tenants do not return to most of the capital's business centers, but choose offices in the business center. More than thirty square kilometers of space were bought or rented here from January to early June alone. This is about half as much as the average for five years.
What is this connected with? First of all, with the exit of business from pandemic restrictions. The business environment requires constant communication, and it can be organized with maximum comfort in a dynamically developing business district. There are classic and service offices, banks and insurance company representative offices, apartments, restaurants , shopping galleries, and all this within walking distance. From here it is easy to get to any part of the city, and impressive views open up from the upper floors of skyscrapers and observation decks .
What to expect in the coming years
At the moment, the market is in a waiting mode, despite the growth in demand. The fact is that in the coming months, sales are planned to start in new skyscrapers, and this is a large selection of apartments and commercial areas from 50-100 to several thousand square meters.
The following changes are to be expected:
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A significant increase in the volume of transactions for the purchase, sale and rental of lots of all categories, including penthouses;
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Commissioning of more than half a million square meters of space (five new skyscrapers will be commissioned between 2021 and 2025);
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Rates range from 32,000 to 38,000 rubles per square meter of rented space per year;
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Growing demand for rental of service offices with full service packages, equipped according to the “Built-to-suit” system;
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Dynamic development of internal infrastructure.
Against the backdrop of the overall picture, the capital's business center looks particularly encouraging, given that Moscow as a whole is seeing a decline in demand for commercial space. By the beginning of 2021, about 500 thousand square meters had been commissioned, but about half of this figure is accounted for by two large state-owned facilities.
How the pandemic has affected the markets
Markets have reacted very painfully to the introduced pandemic restrictions. In this regard, tenants are looking for new, more flexible options. Standard office space is becoming less and less in demand. However, there is increasing interest in "flexible office space". This is a fundamentally new format that assumes maximum flexibility in office rental conditions. The tenant has the opportunity to reduce or increase the rented space without any sanctions or commissions, reconfigure it to suit their needs, adjust service packages (for service offices) in accordance with the company's dynamics.
Developers and management companies try to conduct construction in the "Built-to-suit" format. And this applies to almost any office facilities with an area of more than 1,000 square meters. This is a guarantee of their usefulness for the tenant. A striking example of such service offices is the space leased by Yandex . In total, they own ten thousand square meters on eight floors. The design and engineering solutions are custom-made taking into account the needs of the tenant. The range of services includes security, engineering and technical support, organization of meals for employees and other additional services.
In general, another interesting phenomenon is observed in the rental property market – sublease. For large companies that have signed lease agreements for many years, this is the only option to optimize expenses while reducing turnover. At the same time, the average size of transactions in Moscow has decreased – tenants do not risk investing in renting large areas, not knowing what to expect from the economy. Therefore, in the coming years, the greatest demand is expected in the flexible office space segment.
