2/2/2011

Turkey to have 25 new shopping malls in 2011

Milli Gazete - The rapid growth in the number of shopping centers throughout Turkey will continue in 2011. 25 new shopping centers will join the existing 266 in 2011, creating more than 35,000 jobs, according to the Shopping Center Investors Association (AYD) President Hakan Kodal.

Kodal said that the total investments in the organized retail sector amounted to USD 35 billion in 2010, one third of which consisted of foreign capital. The sector employs 350,000 people and has reached a 6.4 million m2 of retail space with the addition of 21 new shopping malls last year. “58 percent of the shopping malls are located in Istanbul and Ankara; however Anatolian cities will have increasing numbers of malls in the coming years,” said Kodal.
turkey; organized retail; shopping center; shopping mall; hakan kodal; shopping center investors