World Bulletin / News Desk
In the first half of 2013 422,500 sq.m of shopping center spaces were added by Turkish investors, with the largest one called Vialand Theme Park covering a staggering 110,000 sq.m,
The global property consultants Cushman & Wakefield (C&W) published the latest European Shopping Centre Development (ESCD) report this week putting Turkey in the second place. Russia has topped the list.
Over 1.5 million sq.m of shooping spaces are scheduled to be completed by 2014 , with nearly a third of that are to be delivered in Istanbul.
Assuming all projects are completed on schedule, this would represent an 18% increase in shopping centre space in Turkey, says the report.
There were only 46 malls in Turkey in 2000, according to global real estate consultancy firm Jones Lang LaSalle, now there are over 300 shopping malls. By 2023 this number is expected to be 625.
Russia led with approximately 456,200 sq.m shopping centre space delivered, which accounted for 25% of all space across Europe.
Russia and Turkey accounted for nearly half of all European shopping centre space opened in the first six months 2013.
The UK was in third spot with 182,600 square meters meanwhile, Poland and Germany were fourth and fifth respectively, together delivering 214,200 square meters of shooping center spaces.
Approximately 1.8 million sq.m of new shopping centre spaces were delivered onto the market in the first half of 2013 arround Europe.