Following Louis Vuitton, the luxury French fashion house Christian Dior closes its only women's store in the Urals, located in the gallery on Sacco and Vanzetti 74 in Yekaterinburg. Christian Dior, owned by the LVMH holding, plans to develop a network of cosmetic stores in Russia. As the director of the retail real estate department of ILM, Egor Levchenko, noted, "the company decided to focus on the development of cosmetic retail, since cosmetics of even a high price segment in Russia now may be more in demand than luxury clothing." Read more: https://ru.fashionnetwork.com/news/Christian-Dior-ukhodit-iz-Yekaterinburga.1071197.html#.XHOK_egzaUk

Yandex.Market leased 3,900 sq. M. 600 workplaces at Workki co-working on Zubovsky Boulevard. According to the Amo.ru service, the rental price at Workki on Zubovsky Boulevard is 25,000 rubles. per workplace per month. The company rented large areas, for which it could receive a discount of about 20%, believes ILM managing partner Andrei Lukashev. Read more: https://www.vedomosti.ru/realty/articles/2019/02/10/793739-yandeksmarket-kovorking

The rising cost of construction, borrowing, increased tax burden and operating costs make offices less interesting for investors. At the end of 2018, their delivery in Moscow decreased to a record low level, while the activity of tenants, by contrast, increased. In such conditions, the vacancy rate of the premises decreased, their rental rates increased, and the amount of discounts offered fell three times. These trends will only strengthen this year, the consultants are confident. The total delivery of high-quality office space in Moscow following the results of the last year amounted to 125 thousand square meters - it is almost 3.3 times lower than the similar value of 2017 (408 thousand square meters) and at the same time the lowest figure since 2009. The sharp decline in office construction is due to a complex of reasons: "The cost of construction, land, bank loans, taxes, cadastral valuation have increased, and the cost of operating business centers has almost doubled since 2014." At the same time, developers are not sure that effective demand will grow. According to ILM managing partner Andrei Lukashev, in some projects, construction costs have increased by 1.5 times. “Another component of the reduction in office development is a shortage of suitable sites,” he adds, adding that within a kilometer radius around existing metro stations everything is built up with housing, and the new stations turn out to be unclaimed office locations. “Professional business center developers - Capital Group, Forum Properties - no longer build such facilities, reorienting to housing or investment in Europe,” says Mr. Lukashev. He is confident that the office market will not return to serious volumes of construction: “The volume of free space will be about 200 thousand square meters per year plus built to suit (construction for a specific customer. - “Kommersant”)  Source: https://www.kommersant.ru/doc/3859499