Regional Shopping Center Construction Volume Drops by 71% Year-on-Year

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In 2025, the volume of shopping center construction in Russian regions decreased by 71%, according to data from the consulting company NF Group, reported by TASS.

In the past year, the volume of new supply in the regions amounted to 94.3 thousand square meters, while in 2024 it was 324.6 thousand square meters. This figure is the lowest since records began.

This trend is explained by changes in consumer behavior, as well as macroeconomic factors: a high key interest rate and rising construction costs, which complicate the launch and implementation of large-scale projects.

However, the total volume of new retail space construction in the country amounted to 449.3 thousand square meters. The highest development activity was observed in Moscow and St. Petersburg (197.8 thousand square meters and 115.7 thousand square meters, respectively), which showed a record increase in new space construction.