25 new shopping malls to be built in Turkey

A total of 25 new shopping malls are expected to create around 35,000 jobs.

25 new shopping malls to be built in Turkey

A total of 25 new shopping malls, which are expected to create around 35,000 jobs, will open this year in Turkey, head of Turkey's Shopping Center Investors' Association (AYD) said on Tuesday.

There are 266 shopping malls operating in Turkey. They recorded a total turnover of 27.8 billion USD in 2010, up 32.4 percent from a year earlier, employing more than 350,000 people.

"This sector is growing. However, this growth rate has slowed down when compared with previous years," AYD Chairman Hakan Kodal told a press conference.

The number of visitors per square meter was up 1 percent in 2010, however, Turkish visitors spent 14.6 percent more when compared with a year earlier, Kodal said.

58 percent of Turkey's shopping malls are located in two major cities Istanbul and Ankara. Others are operating in 44 cities. Nearly half of Turkish cities do not have a shopping mall.

Kodal said shopping mall investments would shift to Turkey's less populated cities in coming years.

In 2011, shop owners forecast an 11.6 percent rise in sales and 12.4 percent increase in the number of visitors.

"We expect to hit a turnover of 35 billion USD in 2011," Kodal said.

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Last Mod: 01 Şubat 2011, 16:04
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