According JLL there is currently around 2.2 million square meters of retail space for rent St. Petersburg in a total of 56 high-quality shopping centers. Two new malls are planned to open this year: the shopping center Ohta Mall, which will offer 70,000 sqm of leasable space; and the Port Nakhodka shopping center, which has just 10,000 sqm. JLL writes that mall owners in St. Petersburg have come under pressure from falling demand from retailers to adjust the exchange rate at which they calculate rents, or to introduce ruble denominated rents in place of dollars. Rents at the end of the first quarter of 2016 in shopping centers are believed to be RUB 80,000 per sqm, per month.
