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FASHION HOUSE Group appointed JLL as exclusive leasing agent for the Russian market

October 05, 2016, 15:45 (PX Newswire)

MOSCOW, 3 October, 2016 – FASHION HOUSE Group, a leading player in the European outlet sector, appointed JLL as an exclusive consultant for the leasing of FASHION HOUSE Group projects in Russia.

FASHION HOUSE Group is a developer and operator of FASHION HOUSE Outlet Centre Moscow – the first fully enclosed scheme of this type in Russia. The scheme offers customers top quality international and domestic brands, available all year round for 30%-70% less than original prices. After opening of the centre’s second phase on 4th November 2016, it will have a GLA of over 20,000 sqm. The second phase, which is committed to be leased in 78%, will be home to more than 30 brands and foodservice space will grow from approx. 400 sq m at the moment to almost 2,000 sq m. The scheme’s third phase is planned.

Moreover, FASHION HOUSE Outlet Centre Moscow is one of the first retail properties in Russia that have been designed, constructed and managed with full respect for rules of sustainable development. The scheme was awarded the BREEAM certificate.

FASHION HOUSE Group is also developing a new outlet centre in St. Petersburg. With total GLA of 20,330 sq m the St. Petersburg, this outlet to become home to 120 brands.

Brendon O' Reilly, Managing Director, FASHION HOUSE Group, says: “Russia is one of our main markets at the moment. The size of population and fashion consciousness of customers makes the outlet market in Russia very compelling. Our first and flagship project here, FASHION HOUSE Outlet Centre Moscow, shows yearly double-digit growth on sales and footfall. Every year, the scheme is being acknowledged by the industry and highly appreciated by customers. We intend to continue strengthening the FASHION HOUSE Group’s position on the Russian market. We are certain that JLL will add value to our operations by attracting even more well-known brands, boosting tenant synergy and supporting the projects’ overall efficiency.”

Tatyana Malyanova, Head of Shopping Centres Agency, JLL, Russia & CIS, comments: “Today when the Russian shopper is even more conscious of how to spend his rubles and get the very best value, FASHION HOUSE Outlet Centre is dedicated to delivering big brands and at between 30-70% off, every single day. Although there are already three outlet centers in the capital, FASHION HOUSE Outlet Centre Moscow is the only one that targets the city’s north and northwest. It is also the first fully-enclosed outlet centre in Russia, which is a definite plus in the local climate. We are proud to be selected as an exclusive leasing agent for this scheme as well as for other FASHION HOUSE Group developments on the market.”

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006-2016 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, 2016, St. Petersburg; Consultant of the Year at the RCSC Awards in 2015.

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