Sberbank has reduced the volume of financing transactions with shopping centers and offices by 30-40%

Financing by Sberbank of transactions with retail and office real estate decreased by 30-40% compared to 2021. This was told by Deputy Chairman of the Board of Sberbank Anatoly Popov.

“For new deals in the segment of office and shopping centers, we have greatly reduced our appetites. The fall in funding for such facilities is about 30-40% compared to 2021,” said Anatoly Popov “RIA News”.

According to him, of all commercial real estate segments, the situation with shopping centers is the most difficult. This was affected by a decrease in traffic and a drop in revenue due to the departure of international tenants, as well as the intensive development of the e-commerce market. He also recalled that in Russia there are two players in the e-commerce market with revenues above 1 trillion rubles. “Imagine: today every second electronic device in Russia is already bought via the Internet. These are gigantic market changes and the shopping center has serious problems,” he said.

In the office segment, according to Anatoly Popov, there has been a large outflow of the number of Western tenants, so this “is no longer such an understandable business as it used to be.” At the same time, as the deputy chairman of Sberbank said, in 2022 there were no cases of real estate transfers due to loan defaults.

Anastasia Larina