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Growth points?

In Almaty over the past few years, the development of the gastroindustry has shown particularly high dynamics.

Actual problems?

Continuing the theme of the gastro segment, the key problem is competition for premises. For example, there are no premises available right now in Almaty to open a premium-class restaurant.

In the market as a whole, vacancy in shopping centers is almost zero.

Solutions?

We see great potential for solving the problem of space shortages through hidden supply.

An example from our practice: in the central part of the city, a building of 2,000 square meters has been empty for a year, the owner does not know what to do with it. Every month we hold about a hundred meetings with various operators, from restaurateurs to retailers, who request space and buildings in order to develop. We see trends, we see where the market is moving, we keep our finger on the pulse. As a result, we offer the owner a concept with a maximum rental rate due to high demand. Moreover, the owner receives a long-term development plan that provides for an increase in the building — the available land allows this. And in this way we contribute to solving the problem of lack of space.

If we're talking about a systemic solution to the lack of space issue, in Almaty, it's still possible to construct one city-scale shopping mall and 3–5 district-scale malls.

GLA index?

Today for the city the value is 440 m² per 1000 inhabitants. In this case, 800 m² per 1000 inhabitants is sufficient.

Development prospects?

The city of Almaty has a retail infrastructure deficit of 125,000 m² of gross leasable area (GLA). If this infrastructure is developed and built in the next 2–3 years, all these facilities will be fully leased. It should be noted that 80% of the world's largest players in the retail sector are already present in the Kazakh market, and new participants are emerging. We also note that the sector of department stores and “department stores” with an area of 1,000 m² or more is expecting a new round of development.

How to ask a question?

Completed projects