Shopping centers have a bright future in Turkey

Hurriyet Daily News- Despite claims that the shopping center market is overcrowded, Hakan Kodal, Chairman of the Council of Shopping Centers, or AYD, says there is considerable room for development. Turkey is experiencing record rates in growth, Kodal adds. The sum invested in Turkey’s shopping centers is likely to reach USD 50 billion by 2012, Hakan Kodal, Chairman of Turkey’s Council of Shopping Centers, or AYD, stated. At present, the total sum invested in Turkey’s 183 shopping centers stands at USD 30 billion. "Shopping centers are already and will in the future play an important role in the local economy. At present, they employ some 350,000 people, which may reach 500,000 by 2012. There are still shopping centers being built that have not yet been affected by the current crisis" Kodal noted.