The volume of office supply in the Big City may increase by almost a third by 2026

The high demand of tenants for offices in the west of Moscow contributes to the growth in the construction of business centers in the “Big City”, which includes an area of ​​3.2 thousand hectares, including the Moscow City business center, Zvenigorodskoye Highway, Mnevniki. The volume of their supply in the next two to three years may increase by almost a third, which is three times more than the average for the capital. This has already resulted in housing in this area being 57% more expensive than in other parts of the city. Urbanists do not rule out that the “Big City” will become the new center of the city, but they warn that so far the location does not attract everyone.

The volume of office supply in the Big City may increase by 29% by 2026, to 2 million sq. m. m, Nikoliers predicts. Now the district accounts for 25% of the total volume of office construction in Moscow, or 1.8 million square meters. m. At the same time, in the city as a whole, by 2026 the segment of business centers will increase by 9%, to 21.7 million sq. m. m.

“Big City” is an area of ​​3.2 thousand hectares in the west of Moscow, the core of which is “Moscow City”. The borders run along Krasnopresnenskaya embankment, 3rd Silikatny proezd, Zvenigorodskoe highway, Mnevniki and 1905 streets. The mayor’s office unveiled plans for a large-scale renovation of the territory since 2005, when Yuri Luzhkov was mayor.

According to Irina Khoroshilova, head of the office real estate department at CORE.XP, up to 731 thousand square meters can be built in the Big City by the end of 2025. m of new space. Tatyana Divina, head of the research and analytics department of the Commonwealth Partnership, adds that this area now accounts for up to 30% of business centers under construction in Moscow.

In general, the west of Moscow has more prospects for new offices due to the developed business infrastructure and the place of residence of top management, Ms. Khoroshilova believes. NF Group partner Maria Zimina adds that the interest of developers is also stimulating the desire of small players to rent an office near Moscow City.

According to CORE.XP, vacancy in the Big City is 4.6%, which is almost half the Moscow average. The average requested rental rates are 34.5 thousand rubles. for 1 sq. m per year, which is 56% higher than in other areas of the city, notes Irina Khoroshilova.

“Big City” attracts developers not only of offices, but also of housing. Managing Director of Metrium Ruslan Syrtsov says that the volume of apartments and apartments for sale increased by 10% year-on-year, to 1.8 thousand. This figure for the city as a whole over the same period, on the contrary, decreased by 5%, to 67.6 thousand lots. But housing prices in the “Big City” are 57.1% higher than in Moscow as a whole, says Mr. Syrtsov, adding that space is now offered for 671 thousand rubles. for 1 sq. m. In the “Big City” there are residential properties and for 1.2 million rubles. for 1 sq. m, and the minimum price is 290 thousand rubles. for 1 sq. m, adds the founder of Best-Novostroy Irina Dobrokhotova. Director of the sales department of the Summa Elements Group of Companies Svetlana Bardina does not see any risks for residential projects in the location, explaining that buyers with high budgets are less dependent on the currently observed tightening of mortgage conditions.

The founder of Citymakers, Pyotr Kudryavtsev, says that the “Big City” can become one of the new centers of Moscow due to the policy of the city authorities to develop this part of the city. Despite the high density of development, the negative experience of Moscow City is generally taken into account here, and construction is taking place simultaneously with the creation of new transport interchanges, says Tatyana Divina. “The only area to which the Big City does not have direct access remains New Moscow,” she says. Petr Kudryavtsev notes that in the process of developing the territory, it is important not to forget about creating recreation areas and other points of attraction.

Stone’s director of commercial management, Kristina Nedrya, notes that some companies are still not ready to choose offices in the Moscow City skyscrapers, citing problems with transport accessibility and parking as disadvantages. She does not rule out that in the future new projects in the “Big City” may attract some of the demand from this location.

Alexandra Mertsalova