The share of vacant warehouse space in Uzbekistan between January-March 2023 is merely 4.5% of 207 000 m2, Kommersant reports, citing a study by the NF Group real estate agency.
The annual average cost of renting B-class warehouses (renovated or newly built premises) was $64 per m2.
As NF Group partner Konstantin Fomichenko notes that there were no free warehouses in Central Asian states, as well as in Armenia and Georgia which slowed down the parallel imports to Russia.
According to Anton Alyabyev, senior director of the CORE.XP warehouse and industrial real estate department, Russian companies should offer ‘built-to-suit’ deals when the construction of storage buildings is customized.
Unfortunately, there are no professional developers in these former USSR republics let alone suitable spaces to erect the warehouses.
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