Many of Moscow's retail centers are badly in need of renovation

09/28/2010 | Moscow Times, The

Many of Moscow's shopping centers are in dire need of rehab or even complete renovation. However, the funds for such projects have been in short supply. Mikhail Sverdlov, senior director of Cushman & Wakefield's retail property department in Moscow, estimates that 30% of the city's retail centers need to be razed because they are in such bad condition. "They're like a living organism -- something should always be changing," Sverdlov said.

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