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Retail By City

Nizhny NovgorodRussian Federation

city rank #142

City Overview

Nizhny Novgorod is the fifth largest city in Russia, located 400 km to the east of Moscow. The distance between Nizhny Novgorod and Moscow can be covered in 3 hours 35 minutes by a high-speed train. The city is a major industrial center with automotive plants, shipbuilding industry, and military-industrial complex. It is also one of the major technological centers of Russia. Retail properties are distributed unevenly between the two main parts of the city. The major shopping centers (Fantastika, Mega, Nebo, Sedmoe Nebo) are located in the eastern part of the city, while the majority of the population lives in the western part. East and west are divided by the Oka River. In Q2 2018 retail space supply in the city totaled 596,418 sq m gross leasable area (GLA), with 473 sq m of shopping center retail space per 1,000 inhabitants. Development of retail properties were frozen during the global financial crisis, which explains why not a single shopping center was opened in 2010-2012. Large retail schemes SC Nebo (75,000 sq m GLA) and Zhar Ptitsa (51,000 sq m GLA) were opened in 2015. Since then no big shopping centers were opened or went to under construction stage. Average vacancy level in the modern shopping centers is 8 to 10%. Average rental rates for the gallery tenants (50-300 sq m) may vary from $600 to $950 per 1 sq m per year. The city officials actively encourage foreign investors coming into the region, and international retailers are quite active there. Auchan, Metro Cash&Carry, OBI, IKEA, Castorama, Zara, New Yorker, and Marks & Spencer are just some examples. There are more than 100 international retailers operating in the city. About 70 well-known international brands are among them.

Things to do

See

Work

"Fantastika" shopping center, Lobachevskiy Plaza (the fashion centre) and Bolshaya Pokrovskaya str.


Rest

Nizhniy Novgorod Kremlin, Upper Volga River Embankment, Nizhniy Novgorod Fair, Chkalovskaya lestnitsa/Chkalov stairway, “Limpopo” zoo


And be seen

Eat

Onegin, Minin & Pozharskiy, Pyatkin, Salvador Dali, Domashnyaya Italia.


Drink

ABS Beer Restaurant, BOSS bar, Beryozka, Mesto, Biblioteca, Chef's.


Be Merry

Zazhigalka, Paprika.


Other Cities in Russian Federation

Contact Us

MICHAEL ROGOZHIN
BC OKO, Moscow-City
1 Krasnogvardeysky pr-d, 21, bld. 1, 29th floor
873306 | Michael.Rogozhin@cbre.com