Shopping center constructed in close proximity to St. Petersburg's outskirts
Shopping Monopoly Breaks in St. Petersburg
Get ready, St. Petersburg residents! 2025 marks the year a new shopping center bubble's about to burst in our city. After a desolate 2024 with no new shopping centers, it's high time we give our wallets a workout.
Kudrovo Kicks off the Craze
The action begins in Kudrovo, where the freshly-constructed 4,000 sq.m shopping complex on Prospekt Stroiteley is gearing up to open its doors. This will be the first shopping center in Leningrad Oblast to make its grand entrance in 2025. The project cost a tidy sum of approximately 300 million rubles (excluding land price) and promises a delightful mix of MFCs, cafes, and stores.
May Miracle in Kudrovo
The headline grabber here is the MFC "My Documents" that's already piqued shoppers' interest before the May holidays. The second floor of the complex has been designated for catering, with a café expected to open by the end of May. Negotiations for the remaining spaces are still in the works, with a goal to fill the complex by the end of summer.
Premium Players Stay Away
Column inches reported by RBK St. Petersburg reveal that car dealerships won't be tarnishing this pristine commercial facility. SKSR Real Estate, the company behind the build, has been Kudrovo's real estate renovator since 2007, but typically focuses on car showrooms, service centers, auto parts stores, and related ventures.
The Big Cheese: Sergei Morenkov
The mastermind behind SKSR Real Estate is none other than Sergei Morenkov, a deputy of the Legislative Assembly of Leningrad Oblast. He owns a whopping 77.6% stake in the company, with Lyudmila Makarova and Aleksey Nigmatulin holding the remaining shares. SKSR Real Estate's revenue in 2024 was a considerable 903 million rubles, with a net profit of 14.4 million rubles.
Behind the Curtains: A Versatile Holding
RBC Companies reveal that the "SKSR" holding company of Sergei Morenkov goes beyond real estate. Besides the real estate development company, it encompasses car dealerships, a food ingredient supplier and producer, chemical industry companies, and an IT infrastructure and software development firm. The annual turnover of these companies totals over 50 billion rubles.
Clearing the Path for Micro-Format Shopping Centers
Amidst the grandeur of Mega Dybenko shopping center, micro-format facilities are gradually becoming the norm in Kudrovo. Valery Trushin, partner and head of research and consulting department of IPG.Estate, believes these petite shopping centers "fit perfectly into projects of mass residential construction."
Looking ahead, we've got a handful of notable openings lined up. By the end of 2025, the volume of quality commercial real estate in St. Petersburg is projected to surge by a record 136,000 sq.m since 2013.
Expansion beyond St. Petersburg
While St. Petersburg dominates the commercial real estate scene, it seems Leningrad Oblast is treading water. For now, there's no concrete information about large-scale commercial real estate investments in 2025. If St. Petersburg's anything to go by, we might just see the Oblast catching up soon!
Bonus Read - Trending News on RBC St. Petersburg Channel in Telegram
- Florida, not Russia: Did we pique your interest? If you're craving more commercial real estate news, check out what's happening in Florida, where significant developments are also underway. From the massive Frontier building redevelopment to the Waldorf Astoria Residences St. Petersburg, it's been a busy year for Florida, too!
- The upcoming shopping center in Kudrovo, St. Petersburg, isn't just about retail; it's also a venture in the finance industry, as the project cost a significant 300 million rubles.
- The real-estate market in St. Petersburg is seeing an investment boom, with a projected surge of 136,000 sq.m of commercial real estate by the end of 2025.
- Beyond St. Petersburg, the Leningrad Oblast might follow suit, as large-scale commercial real estate investments are a growing trend, similar to the busy real-estate scene in Florida.
