Construction of Reutov Park shopping center started in Reutov (RU)

Amma Development has commenced the construction of the shopping center Reutov Park, which is scheduled to be open in the city of Reutov in Q4 2013. The official groundbreaking ceremony was held on November 1 in Reutov in the presence of the Vice Mayor of Reutov, Vladimir Pokamin. The co-exclusive leasing consultants of the center are international consulting companies Knight Frank, Jones Lang LaSalle, and Cushman&Wakefield.

The SEC Reutov Park is being built in the center of a residential development area.

The GLA of Reutov Park is 41,000 m²; its GBA is 90,000 m². This shopping center will be located on the first line of Reutov's Nosovikhinskoe Highway, within a walking distance from the metro station 'Novokosino', which was opened in August, 2012.

The anchor tenants will include a grocery hypermarket, a home appliances and electronics store, a sports goods store, a movie theater, and a food court area. Apart from that, the three levels of the center will feature fashion stores, department stores, cafes and restaurants – all in all more than 140 operators of different profiles. The center has a two-level ground parking lot for 1,100 car spaces. Reutov Park is scheduled to be put in operation in Q4 2013.

Sergey Gipsh, Partner, Regional Retail Director, Knight Frank Russia & CIS, said: "'Novokosino' metro station, near which Reutov Park will be located, was open as recently as August 2012, which means that the district has received an extra potential for the development of its infrastructure and the appearance of Reutov Park in this location is very much timely. Undoubtedly, the center will occupy its niche and will be in demand of the local residents".

Tatyana Kluchinskaya, National Director, Head of Retail Department, commented: "Reutov is one of the most attractive cities in Moscow Region for developers because of the high level of residential property prices and income level of its citizens; therefore quality shopping centers with good entertainment component are in high demand there.

The SEC Reutov Park is being built in the center of active residential development area, which guarantees high footfall to the new scheme. 690,000 people already settled today in the Total Catchment Area of Reutov Park, which includes Balashikha and Zheleznodorozhniy cities and more than 200,000 people are living in the Primary Catchment Area of the Project. More than 350,000 m² of new contemporary residential real estate will be constructed in the Primary Trade Area of Reutov Park in 2013, which will add more new customers of the shopping center."

Ekaterina Zemskaya, Head of Retail Agency, Cushman & Wakefield: "The grand opening of Reutov Park, a shopping center focused on family shopping and entertainment, will become a key event for people living in Reutovo and new residential district Novokosino 2. Reutov Park is an exceptional example of a new generation modern shopping center with a strong anchor mix, including Auchan and Kinoprime, and a large entertainment concept that accounts for 25% of GLA. I am sure of that Reutov Park will become a popular destination point."

Source: Cushman & Wakefield

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