International consulting company Colliers International has been appointed as exclusive broker of Respublika Plaza, a new super-regional shopping and entertainment centre which will be located in Astana. The mall’s developer and investor is Merey Real Estate Management. One of the project’s distinctive features will be one of the largest fashion galleries in the city, with more than 200 stores, featuring the international and Russian brands, some of which will be new to Kazakhstan.
Respublika Plaza will be the first modern large-scale shopping and entertainment centre on the right bank of the Yesil river, where more than 80% of the city’s total population lives. Currently, the main shopping centres operating in Astana are concentrated on the city’s left bank. The complex is conveniently located at the intersection of Prospekt Respubliki and A. Imanov Street. The mall’s coverage area includes two largest city districts – Saryarka and Almaty – with a total population of 720,000 people.
The total area of the multifunctional complex is 300,000 m². Construction of the first phase (GBA 85,000 m², GLA 45,000 m²) is scheduled for completion in the autumn of 2016. The architectural concept, developed by the international bureau DP Architects, is distinguished by refined and elegant shape of facades and light, airy interior space resulting from the large windows and atriums. Air Design is creating the project’s branding.
The mall’s concept offers one of the largest fashion galleries in the city, designed for more than 200 shops, featuring Russian and other international brands, some of which will be new to Kazakhstan. In addition, the project includes a ten-screen cinema with an area of 4,000 m², a spacious restaurant area and a food court with 20 operators, as well as a large car park with 1500 car lots.
By the end of 2014, Kazakhstan was 10th in the global retail development index, according to AT Kearney. In 2012, the country climbed up to the ninth place and has stayed ahead of countries such as Turkey, Russia, and India. The retail market in Kazakhstan is developing rapidly, helped by improved economic performance, favourable conditions for business development and income growth. These factors, combined with the presence of unoccupied retail niches, make this region attractive for retail chain operators.
Bayan Kuatova, partner and managing director of Colliers International Kazakhstan: “Astana, one of Kazakhstan's largest cities, with a population of more than 850,000, is now a promising and dynamic city where the country’s social, political, and cultural life is concentrated. Astana was chosen as the venue for the EXPO 2017 Future Energy international exhibition, with more than 100 countries and international organisations participating and more than two million visitors in attendance. Astana ranks second after Almaty in terms of retail sales volume and the retail area in the city is 300 m² per 1,000 capita, lower than in most Eastern European cities.”
Anna Nikandrova, regional director, head of retail agency, Colliers International Russia: “The market in Kazakhstan is very promising for rapidly developing Russian and other international and brands – those that are already present there and those who are just planning to enter the market. Astana is particularly attractive – being the country’s capital stimulates the city’s vigorous development in all spheres. Accordingly, there is growing demand for modern and high-quality shopping centre projects that meet retailers’ highest standards. Respublika Plaza will be just such a project, providing the best opportunities for the development of brands seeking to conquer the Astana market.”
Source: Colliers
