•Total take-up in 2017 amounted to 1,093 mn sq m, which is 8% higher compared to 2016.

•620,000 sq m was delivered in 2017, accounting for only 71.2% of total new construction of 2016.

•Vacancy rate fell by 0.9 pp since Q4 2016 and amounted to 11.9% of total stock.

•Weighted average rental rate has been stable at 3,500 RUB/sq m/year in 2017. In Q4 we observed an insignificant short-term decrease, mostly attributable to changes in vacancy structure.