• 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.