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August 20th, 2012Outlet Mall Boom Under Way in Moscow

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by Rachel Nielsen

Moscow, Russia - Moscow is getting a spate of outlet malls, with U.S. real estate developer and investor Hines and local developer Belaya Dacha opening the first of them, Belaya Dacha Outlet Village, this past weekend.

Real estate developers are sinking money into the outlet mall format, in which brand-name clothing stores sell last season’s goods at a discount, because it offers a way to differentiate their retail centers from the capital’s plethora of malls and capitalize on sale fever among shoppers.

Belaya Dacha’s first phrase of construction cost a little more than $100 million, said Viktor Semyonov, board chairman at the Belaya Dacha group of companies.

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