Amma Development has commenced the construction of the shopping center Avia Park, which is scheduled to be open in Moscow in Q4 2014. The project will become one of the largest shopping centers in Russia and Europe. The co-exclusive leasing agents of the center are international consulting companies Cushman & Wakefield, Jones Lang LaSalle and Knight Frank.
The GLA of Avia Park amounts to 231,000 m². The center will be constructed in Khodynskoe Pole between two major highways of the capital, namely Leningradsky Prospect and Zvenigorodskoe Highway. In addition to now existing metro stations 'Dynamo' and 'Airport', 'Khodynskoe Pole' station will be opened near the shopping center, which will provide a significant competitive advantage for the project.
The scale and the unique concept of this project allow us to consider the territory encompassing 7 out of 12 administrative districts of Moscow with the population of more than 6.8 million people to be the center's coverage area.
The shopping center Avia Park will have four stories and a two-level parking lot. The anchor tenants of the center will be a hypermarket operator Auchan (25,900 m²), a home furniture store Hoff (10,000 m²), an electronics store Media Markt (8,000 m²), a DIY store OBI (15,000 m²), a sports goods store, large department stores, an entertainment center, and a multiplex cinema.
Sergey Gipsh, Partner, Regional Retail Director, Knight Frank Russia & CIS, said: "Not only will the shopping and entertainment center Avia Park, the like of which has never existed in Russia, be one of the largest shopping centers across the country, but it will also become one of the iconic projects in Europe.
"The logistics of the internal space, parking area, and access roads of Avia Park stand out with their high level of organization; even considering the size of the project its integration into the existing infrastructure is unlikely to have a negative effect on the transport and communication of Leningrad Prospect and Zvenigorod Highway. The professional concept along with its high-quality implementation performed to leading global standards will make Avia Park a true landmark and a model to learn from for new projects of the kind that will appear in Moscow and Russia in the years to come."
Tatyana Kluchinskaya, National Director, Head of Retail Department, Jones Lang LaSalle, Russia & CIS, commented: "With its scope and concept, SEC Avia Park is a truly unique project. No similar schemes have been introduced in the market before and it explains all disputes and discussions around the project's implementation.
"But no one can challenge the fact of the construction started and extremely professional parties involved, including Renaissance Construction company. It all guarantees that Avia Park will be opened before the end of 2014 exactly as it was stated. The quality of this project has been already recognized by retailers: the largest Russian and foreign tenants are planning to open their flagship stores in the SEC Avia Park."
Ekaterina Zemskaya, Head of Retail Agency, Cushman&Wakefield: "Moscow is a key market for international and domestic retailers looking for strategic development. Due to a small number of recent openings, the vacancy rate in quality shopping centers reached a record low of 1.5%. The launch of a large scale project such as Avia Park with its unique concept and design is a great opportunity for international brands planning to enter the Russian market with flagship-stores."
Source: Cushman & Wakefield