Russia to get “Outlet Mall”

(Moscow) Белая Дача (Belaya Dacha) will be the name of Russia’s first Outlet Stores Mall to open in the Spring of 2012. Developed by European based real estate firm Hines and the Belaya Dacha Group, 90% of the leases have already been signed with luxury brands including TsUM, which will open a 528-square-meter outlet, as well as Ferragamo, Trussardi, Burberry, US Polo, Escada and CK Jeans. A Puma store will occupy 345 square meters and a 1,295-square-meter outlet will house Adidas Original, RockPort and Reebok.

Outlet Mall Белая Дача (Belaya Dacha) will open in April 2012.

The developers say that the total net leasable area of the Outlet Village Belaya Dacha project, located in Kotelniki, Moscow region, is 38,000 square meters. Construction is due to be finished by the end of this year, and the grand opening is planned for early April 2012.

Lee Timmins, senior vice president of Hines Russia said:“Outlet centres are a highly popular and profitable concept in Europe and the US but do not yet exist in Russia. We have investigated the readiness of the Russian market for the outlet centre concept, and have discussed the project and timing with representatives of major brands and potential tenants. The result of this investigation has been confirmation that the Russian market has enormous potential for outlet retail schemes and very considerable demand for this format of retail center. Having a project jointly sponsored by an international company with a history of success in this market and an experienced Russian partner, we have great confidence in the success of this new project.”

In addition to stores the outlet will also feature restaurants, cafes and a childcare centre. Food operators include Il Patio and Planet Sushi. The developers also estimate that the project will create over 900 jobs.
Outlet Mall Белая Дача (Belaya Dacha) will add over 900 new jobs.

According to Vladimir Tsyganov, general director of Belaya Dacha PJSC said:“Our joint efforts with Hines will turn the town of Kotelniki into a regional retail destination center on the South-East of Moscow. We are getting support from the Kotelniki administration, and regional and federal road authorities are currently building a new road connection to MKAD that will make site accessibility easy and comfortable for future customers.”