The losses of Western companies that decided to leave Russia and terminated the lease agreements for their stores in microdistricts and shopping centers, experts estimated up to 30 billion rubles due to early exit.
The experts added that the amount (30 billion rubles), which is equivalent to $495 million, is compensation for losses incurred by property owners as a result of the termination of contracts by Western companies and the withdrawal from the Russian market.
Experts note that the owners of shops (real estate) in shopping centers are likely to benefit from this situation, although they will face difficulties in finding new tenants.
After Russia launched a special operation in Ukraine, Western countries imposed sanctions against Moscow affecting various companies and sectors of the economy, Western companies also announced the suspension of their business or leaving the Russian market.
For its part, the Russian government reaffirmed its support for national companies affected by the sanctions and announced a set of measures to maintain financial and economic stability in the country.
(dollar = 60.53 rubles as of August 10, 2022)
Source: RBC