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Forbes has released its annual "Kings of Russian Real Estate" ranking, and ADG group has once again secured its place among the country’s top commercial landlords. Based on 2025 performance, the company ranked 27th on the list of Russia’s 30 largest commercial property owners.
The commercial real estate market is steadily recovering after several turbulent years. The combined revenue of all ranking participants grew by 18% over the past year, while the entry threshold rose from $ 25 million to $ 40 million in annual rental income. Analysts attribute this trend in part to the ruble’s strength-the average dollar exchange rate in 2025 was 10% lower than the previous year-as well as stabilizing demand for prime retail space.
As in previous years, leading consulting firms contributed to the ranking, including Ricci, NF Group, Nikoliers, IBC Real Estate, Commonwealth Partnership, and CORE.XP. Data was also drawn from open sources and the SPARK-Interfax system. The ranking reflects the potential rental income from commercial properties owned by each company, excluding space used for their own operations.
ADG group not only held its position in the ranking but also delivered strong growth across key metrics. Despite a challenging economic environment, the company posted impressive results: net operating income (NOI) from its properties surged 131% over the year. Total foot traffic at its "Meeting Place" neighborhood centers reached 44 million visitors, underscoring the format’s strong appeal to Muscovites. By the end of 2025, occupancy across the company’s shopping centers stood at 97%.
Forbes editors highlighted three flagship properties: "Meeting Place Sofia" (65,000 sq m), "Meeting Place Orion" (27,000 sq m), and "Meeting Place Budapest" (20,000 sq m). These centers have become local landmarks and standout examples of the successful "neighborhood center" concept in action.
For us, making the Forbes ranking is more than just industry recognition-it's a testament to the dedication of our entire team. The results confirm that our strategy is working: people are coming back to neighborhood centers because we offer more than just retail. We’re creating a vibrant new kind of community space for living, connecting, and leisure.
The full ranking is available on Forbes' official website.
As in previous years, leading consulting firms contributed to the ranking, including Ricci, NF Group, Nikoliers, IBC Real Estate, Commonwealth Partnership, and CORE.XP. Data was also drawn from open sources and the SPARK-Interfax system. The ranking reflects the potential rental income from commercial properties owned by each company, excluding space used for their own operations.
ADG group not only held its position in the ranking but also delivered strong growth across key metrics. Despite a challenging economic environment, the company posted impressive results: net operating income (NOI) from its properties surged 131% over the year. Total foot traffic at its "Meeting Place" neighborhood centers reached 44 million visitors, underscoring the format’s strong appeal to Muscovites. By the end of 2025, occupancy across the company’s shopping centers stood at 97%.
Forbes editors highlighted three flagship properties: "Meeting Place Sofia" (65,000 sq m), "Meeting Place Orion" (27,000 sq m), and "Meeting Place Budapest" (20,000 sq m). These centers have become local landmarks and standout examples of the successful "neighborhood center" concept in action.
For us, making the Forbes ranking is more than just industry recognition-it's a testament to the dedication of our entire team. The results confirm that our strategy is working: people are coming back to neighborhood centers because we offer more than just retail. We’re creating a vibrant new kind of community space for living, connecting, and leisure.
The full ranking is available on Forbes' official website.
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