Shopping center frenzy ceases to end
ISTANBUL - Anatolia News Agency | 12/28/2009 12:00:00 AM |
Nearly 100 shopping centers will be opened within three years in Turkey, 63 of them in 2010, according to Ekrem Akyiğit, chairman of the United Brands Association.
Nearly 100 shopping centers will be opened within three years in Turkey, 63 of them in 2010, according to Ekrem Akyiğit, chairman of the United Brands Association, or BMD.
BMD members will provide employment for about 30,000 people in 10,000 stores to be in these shopping centers, Akyiğit said.
There are more than 220 active shopping centers in Turkey as of December 2009, according to a press statement. A contraction and delay is seen in shopping center investments in parallel with the global crisis of the past year.
Noting that openings of a large number of malls have been postponed in 2009, Akyiğit said some 7,500 stores might open in 63 new shopping centers in 2010. It is expected that some other 32 malls will come into service in 2011 and 2012, Akyiğit said.
BMD member companies were providing jobs for 160,000 in 2008, while this figure reached 170,000 by the end of 2009, said Akyiğit. BMD members are predicted to rent at least 2,500 stores of more than 10,000 in these malls next year. Therefore, it is expected that the employment maintained by BMD will near 200,000. Besides, within the next three years, more than 100,000 new jobs will be created with new openings, he added.
[HH] Higher turnover forecast for 2010
BMD members foresee an annual turnover of over 2 billion Turkish Liras in the new stores to be opened, Akyiğit said. The association aims to obtain a total of $26.5 million in annual turnover with a 10 percent increase in 2010. The members also plan to reach a volume of $30 billion in turnover “in a very short period.”
The Turkish retail sector has totaled nearly $160 billion in turnover in 2008 and has provided employment for 3 million people. Despite the crisis period, 10 to 11 percent growth has been seen in the retail sector and the sector’s turnover is worth $176 billion in 2009.
As part of the aim to expand abroad, the BMD will visit a Turkish investment shopping center in Montenegro, Akyiğit said. “After that, we will also visit Damascus and Amman. BMD will provide its brands to enter these countries.
“BMD members will expand their brands abroad with their ‘Made in Turkey’ products. By this way, they will become one of the driving forces of the Turkish economy with the promotion of our country and contribution to quality choice,” Akyiğit said.