Turkey Financial News

Posted by meb at May 24th, 2008

Turkey is rapidly surpassing European countries in its investments in outlet stores, which sell out-of-season products at discounted prices.

Turkey is second in Europe in terms of leasable outlet area, with 382,781 square meters in 19 outlet malls. It follows England, which has 471,881 square meters of leasable outlet area in 29 outlet malls. Italy follows Turkey with 12 outlet malls. France comes next with 11 outlet malls. There are a total of 133 outlet malls in Europe, with 3.02 million square meters of leasable outlet area, while in America there are 222 outlet malls, with 5.57 million square meters. (more…)

Posted by meb at May 23rd, 2008

Antares shopping mall opened in Ankara’s Etlik district Wednesday. Covering on an area of 410,000 square meters, the center is a candidate to be the biggest mall in Turkey. The project is launched by Dolunay İnşaat, the operating partner of Turkish corporate Nata İnşaat, which is a project developer for the construction sector.

“Antares is the largest real estate investment project established with the use of domestic capital of Turkey,” said Uğur Göksel, the project manager of Antares. Metro Group Asset Management, a cross-divisional service company perform an array of services in such areas as real estate, gastronomy and marketing, is responsible from the management of the shopping center. (more…)

Posted by meb at May 8th, 2008

For centuries, İstanbul lured intrepid shoppers with colorful jewelry and carpets which tumbled from shops in the ancient alleyways of the Grand Bazaar.

Today, the city’s affluent young middle-class is embracing a different kind of shopping experience in giant glass-and-chrome malls, whose rise strikingly illustrates Turkey’s emerging prosperity, but also spotlights some economic frailties.

Shopping malls are sprouting across Istanbul at a dizzying pace, with foreign money attracted by Turkey’s large, young and growing population of over 70 million. According to official data, per capita income surged to $9,333 in 2007 from $7,500 a year earlier and is expected to continue rising strongly. (more…)