Bumper year for shopping centres in Turkey
Shopping centres in Turkey are expected to have experienced a bumper year, reports the Hurriyet Daily News.
According to the newspaper, the turnover in 2009 for shopping centres is predicted to exceed 20 billion lira (£8,031,468,995). This is compared to 16 billion lira at the end of 2008.
Hakan Kodal, the chairman of the Shopping Centre Investors Association (AYD), told the newspaper that he expects the holiday season to boost results further. He added that while part of the increase was down to a higher amount of retail space it also showed that the economy was on the up.
It is predicted that in January shops could experience a 70 to 80% sales increase.
This year has seen the opening of the largest mega mall in Europe, Forum Istanbul, which should draw in 25 million visitors per year. The favourable exchange rate means that Turkey could become the new destination for affordable shopping.
The latest retail figures are one of a number of signs that the Turkish economy is picking up. Yesterday figures were released stating that the spa and wellness sector in the country were doing well, suggesting that the country is enjoying a high standard of living.
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