Since the beginning of the year, the towers of the Moscow City business center have lost 20 restaurants and cafes , Knight Frank reports.
A widespread closure of food service establishments in 2021 was observed in the Moscow International Business Center (MIBC), where the majority of these are premium restaurants and cafes. This is explained by the current challenging economic situation, as this market segment suffered the most from restrictions imposed during the pandemic. During this time, customer traffic plummeted, falling by half after the second quarter of 2020.
Nevertheless, today, 29 retail outlets and establishments providing various services remain on the upper levels of the City's skyscrapers. They occupy a total area of approximately 26,600 square meters. A third of these establishments are cafes and restaurants, while the remaining two-thirds are divided between fitness clubs , entertainment venues, shops, beauty salons , and so on.
However, it should be noted that Moscow City has seen a recovery in customer traffic since the beginning of the year. This should lead to the preservation of existing food service establishments and the opening of new ones.
