| 20 November 2008 |
 
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This year’s exhibition will include a presentation of exclusive Knight Frank projects: the Talisman Retail and Entertainment Center in Izhevsk, the Azovsky Retail and Entertainment Center in Moscow, and the Klyuchevoy Retail and Entertainment Center in Moscow. All three facilities will open in 2009.
Russian specialists will work together with representatives from Knight Frank’s Spanish and French offices at the company’s stand.
“In the current circumstances, it is essential to share our experiences with colleagues from different countries. Our participation in the MAPIC exhibition provides the most convenient format for discussing current issues and developing efficient business solutions for investors, developers and tenants,” says Julia Dalnova, head of Retail Knight Frank Russia and CIS.
The outlook for the Russian real estate market’s development amid the ongoing global financial crisis is one of the most urgent issues up for discussion within the frameworks of this year’s MAPIC business program.
According to Knight Frank experts, 2009 will be marked by growing competition between development projects and further adjustments in retail space leasing rates.
Russian retailers are currently continuing to develop their network projects. But at the same time, they are very selective about offers and only give preference to projects that have obvious competitive advantages, ones like proximity to a metro station, good traffic and so on.
A further leasing rate adjustment and a change in the structure of transactions may also be expected in the spring of 2009: there will be a substantial increase in the volume of retail spaces available for sale, Knight Frank experts believe.
Knight Frank Stand at MAPIC 2008: No. 18-14, Level 1
MAPIC offers a chance for retail real estate sector companies to demonstrate their concepts and projects, gain insight into new market trends, and lay the foundation for professional cooperation with new partners.
The participation of more than 2,300 developers and 1,000 exhibitors from 71 countries offers a unique chance to learn about the comprehensive range of key projects and leading sector players. The event is traditionally attended by everyone from retailers and developers to investors and government officials.
Some 10,640 participants from 71 countries took part in MAPIC 2007. They included 2,340 retailers, 134 local and regional government officials, 1,079 investors and 1,056 exhibitors.
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