Azbuka Vkusa, a premium class grocery retailer, is planning to build 15 shopping centres in the Moscow and Leningrad Provinces within the next five years. Each will cover up to 4,000 m2 and will house an Azbuka Vkusa supermarket on about 2,000 m2. The rest of the areas will be let to rent to fast food restaurants, laundries and other small businesses. The project development was prompted by a lack of suitable premises and the total amount invested is estimated to be $150m.
Today, Azbuka Vkusa has 53 supermarkets in and around Moscow and St. Petersburg. As Retail Update Russia reported on a previous occasion, the company recently announced plans to expand on the Ukrainian market.
Source: www.russiaretail.com