You're reading: Kazakhstan’s shopping centers lag five years behind Russia and Ukraine

ALMATY - Kazakhstan's shopping centers and retail chains lag five years behind Russia and Ukraine and 12 years behind Europe, America, Canada, China, Korea, says director of Trade Help Consulting Company Andrey Kalmykov.

“Kazakhstan malls will not score over 3.5 points on a 5 point scale,” he said in an interview with Interfax-Kazakhstan.

According to Kalmykov, food retail in Kazakhstan is on the rise,
while DIY (“do it yourself”) chains are at the starting up stage. The
expert also said that the jewelry retail segment is undeveloped.

The expert forecasts that investments into retail real estate in
2012-2013 may reach $450-$600 million, “based on a 20% increase in
retail floor space or 500 sq.m for the period.”

He estimates a 30%-40% rise in investments in development of retail
chains and shopping malls provided that the country’s economic
performance remains stable.