Features and prospects of the modern market of multifunctional complexes in Moscow

Recommendation points

• Features of the Moscow MFC market
• IFC advantages
• Disadvantages of IFC
• The most promising and successful complexes in Moscow
• What the future holds for the IFC market

Recently, among the capital’s real estate objects, you can often find multifunctional complexes (MFC). Developers are increasingly paying attention to this sector. However, there are not so many successful examples of IFC in the capital. Let’s look at the specifics of the market of multifunctional complexes in the capital.

Features of the Moscow MFC market

If we consider what a multifunctional complex is, then it should be said that in the classical form the multifunctional complex must perform at least 3 functions, which independently of each other will generate income.

Edgar Degas. Cotton office. 1873

An MFC can include elements of office, retail, residential, hotel and sports and entertainment real estate. Usually, in today’s MFCs, the largest share belongs to commercial real estate: about 15-20% of the total area is occupied by retail premises, 50% – by offices, the rest – by residential real estate. As a rule, trading rooms are located on the lower floors, offices are located above, the uppermost floors are given for housing.

The development of the construction of such complexes in Moscow is associated with a shortage and high land prices. As a result, developers, building high-rise multifunctional buildings, are trying to squeeze the maximum profit from the available land plot..

It should be noted that during the crisis, the implementation of most of the IFCs in the capital was suspended. This circumstance was primarily due to the fact that they require complex structural and architectural solutions. IFCs are quite expensive projects that, as a rule, cannot be successfully implemented in economy class. Such complexes are best attributed to the business class, which turned out to be the least in demand during the height of the crisis..

As some experts note, due to the fact that residential real estate during the crisis sank much less than commercial real estate, the recovery of the housing market is now proceeding at a faster pace. But in the segment of office and retail real estate, demand is now recovering much more slowly. Naturally, the same tendency was reflected in the structure of multifunctional complexes. Now the residential part, represented by apartments, occupies an increasing share in the structure of the MFC.

Also, at the moment, a sufficient number of parking spaces is mandatory for any modern capital’s multifunctional complex. This increases the attractiveness of the MFC as a commercial property.

IFC advantages

The main advantages of multifunctional complexes include the possibility of diversifying possible financial risks, as well as the most efficient use of the entire area of ​​the facility..

Viktor Vasnetsov. Chambers of Tsar Berendey. 1885

According to experts, the project, which is being created for various categories of consumers, makes it possible to correct the risks of reduced demand in certain segments of real estate. In addition, as noted above, the construction of such complexes allows developers to save land resources, as well as reduce energy costs..

However, the main goal of the construction of multifunctional complexes is to make a profit. With the right design, built on an effective concept, the combination of various functions in one facility gives an excellent effect, which makes it possible to get more income from the operation of the complex. Profits for developers from a large-scale multifunctional complex are much higher than from a modest clubhouse.

Many business people prefer to keep everything they need as close as possible..

In addition, the tangible advantages of the MFC can be felt not only by construction companies, but also by the inhabitants of such complexes. In the residential part of the MFC, apartments are usually bought by people who work in the office centers of the complex, they are also the main customers of the infrastructure facilities present here..

That is why such complexes are very convenient for large modern megalopolises, allowing people to significantly save time that is spent on moving around the city. Modern life, with its dynamism, makes great demands on time, which is gaining more and more value. Many business people prefer to keep everything they need as close as possible. Hence the conclusion that from the point of view of time optimization, multifunctional complexes are ideal, since here you can work, live and spend your free time at the same time.

Disadvantages of IFC

No matter how convenient such a complex is for living, if you are a family person you may lack many very important infrastructure elements here. Here, as a rule, you will not find a classic adjoining territory, equipped with a playground, courtyard and guest parking. In addition, it is unlikely that there will be a kindergarten, school or clinic nearby..

The disadvantages of most MFCs also include the absence of natural objects near (a square, a park, even just trees are rare here). Most of these complexes are located in close proximity to major highways.

Another disadvantage of MFCs as residential facilities is that, provided there is a large share of non-residential premises in the complex, the functioning of the entire building as a whole will be subordinate to a greater extent only to them. Therefore, the use of the territory will be subject to a special regime, as well as the consumption of water, electricity and heat..

Abel Grimmer. The Tower of Babel. 1604

Another problem for Moscow developers is the selection of a suitable qualified management company, which will ensure efficient work with real estate objects of different segments, which differ in their functions. Unfortunately, most of the domestic management companies have a narrow specialization, as a rule, they work more in the commercial real estate sector. There are practically no management companies that can effectively work simultaneously with both commercial and residential real estate in the capital market.

The most promising and successful complexes in Moscow

According to analysts in the real estate market, at the moment, the most successful combination of commercial real estate segments that are included in multifunctional complexes is a combination of the two most popular formats: office space and apartments.

If we consider the list of the largest and most promising multifunctional complexes in the capital, which offer apartments for sale or rent, then a combination: class A offices and apartments are present in almost every large multifunctional complex, and they together account for 60% to 85% the entire building area.

This dynamic can be easily explained. The fact is that the demand for rent and purchase of apartments located in the business center of Moscow is mainly determined by top managers and representatives of large businesses. The demand for them is gradually growing, as this is a very convenient format of housing for business people..

As an example of the most popular MFCs at the moment, we can mention the “City of Capitals” complex, which consists of two high-rise buildings “Moscow” and “St. Petersburg”. The total area of ​​the complex is about 289 thousand square meters. Three types of real estate are presented here almost in equal shares: offices, apartments and a retail and entertainment component. At the moment in this complex there are apartments for sale completely ready for living, the price of which is from 10 thousand to 25 thousand dollars per sq.m. The cost of office space in the MFC “City of Capitals” is in the range from 8 thousand to 18 thousand dollars per sq. M, rent will cost 850-950 dollars per sq. M. in year.

The multifunctional complex, located on Tsvetnoy Boulevard and called the “Legends of Tsvetnoy”, also presents class A office premises and apartments. The total area of ​​the multifunctional complex is 112 thousand sq. m. Offices occupy six floors, and as many as eight upper floors are allocated for apartments. Retail premises are located on the first floor of the building. The rental price here for office space is $ 900 – $ 1,000 per sq.m. per year, the cost of apartments for sale varies from $ 8,700 to $ 17,500 per sq.m..

Multifunctional complex “Theloft”, the area of ​​which is 20 thousand square meters. m also offers its clients apartments and office space. Almost 70% of the total area of ​​the building is devoted to apartments. The cost of both offices and apartments in this mixed-use complex is practically the same and varies from 4 thousand to 5.7 thousand dollars per sq. M..

What the future holds for the IFC market

As for the future prospects for the development of the format of multifunctional complexes on the territory of Moscow, then, in the opinion of most experts, this is possible only with the implementation of comprehensive programs for the development of industrial zones and the reconstruction of dilapidated housing in the city center. The reason for this is simple – the lack of free land in the capital.

However, the reorganization of industrial territories is a rather complicated and bureaucratic process. As a result, developers face a number of obstacles.

Another promising area for the development of the IFC in Moscow is the development and implementation of large-scale projects outside the Garden Ring, including social infrastructure facilities. The combination of business centers, hotel complexes, playgrounds, parks and other infrastructure elements will increase the popularity of the IFC as residential real estate. At the same time, during the construction of the infrastructure, it will be necessary to take into account the class of both the complex itself and the territory on which it will be built. Because class “A” offices are unlikely to be in demand from tenants in the region. At the same time, high-quality and relatively inexpensive premises will attract the attention of many small and medium-sized business owners..

In general, the segment of multifunctional complexes is a rather promising direction in the capital’s real estate market. Such complexes are the future. Only the approach to the construction of the multifunctional complex should be correct, both the profitability and demand for the complex will depend on the thoughtfulness of the project.