The world economy is under pressure from the growing "second" wave of coronavirus.
The Russian economy will recover to the 2019 level no earlier than 2022. Thus, the dynamics of the commercial real estate market will remain restrained.
The possible continuation of the pandemic and its further impact on business and consumption of the population will be a significant factor that restrains the dynamics of investments in 2021.
The main beneficiary of the pandemic is the e-commerce sector. Thus, the demand for warehouses and logistics infrastructure from online retailers will continue, and investor’s interest in these assets, in turn, will increase.