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MEGA announces partnership with Megamarket in replacing IKEA spaces in Russia

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Gazprombank Group has bought 14 MEGA shopping centres in Russia from Ingka Group for an undisclosed price on September 2023. Gazprombank bought the 2.3 million square metres of retail space with a commitment to develop the assets.
The deal focuses on the vacant IKEA spaces in 14 MEGA shopping centres in 11 regions of Russia with a total area of 400,743 sq. m.

"MEGA has acquired a reliable, dynamically developing business partner, part of one of the largest omnichannel systems in Russia. Cooperation between MEGA and Megamarket paves the way to develop an innovative digital business model and attract new visitors to MEGA who now prefer online shopping,” said Tigran Khachaturov, Deputy Chairman of the Board of Gazprombank.

Having a tenant running an online retail business is a new trend in the retail real estate market, and MEGA tenants receive a new opportunity to increase their sales through channels provided by Megamarket.

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