According to a report made by CBRE Russia, 471,000m² was taken-up in Q4 2016, which is 3.5 times higher than Q3 results. New supply in Q4 amounted to 270,000m².
Annual completions reached 870,000m², which is 25% higher than a year before. Growth was fueled by completions of number of built-to-suit buildings.
Anton Alyabyev, Director of Warehouse & Industrial Department, CBRE in Russia said: " Important changes took place on the warehouse market in 2016. From negative dynamics observed over the last two years the market turned towards stabilisation. At the same time new demand sources appear on the market: some companies move from old warehouse to class A properties, another consolidate supply chain in new space. In 2017 we expect strengthening of trends we saw last year and gradual improvement of market environment – further movement from stabilization to growth."
