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Is Shopping Mall Business in Turkey A Source of Attraction for Global Investors?

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SHOPPING_CENTER_TURKEYThe retail sector in Turkey – a paradise of shopping, is attracting an accelerating demand from global investors each and every day.

In fact several foreign funds have been looking for opportunities to invest in the country’s growing shopping mall business in joint venture with local groups.

Experts say it is the right time for foreign investors to make presence in this country and indeed in the middle of the economic crisis in Europe and political turmoil in the Middle east.

Among such initiatives is The Bosporus Real Estate Fund (BREF) a joint venture between the Krea Group and Merilll Lynch. It is reported that the group is considering investing in major retail facilities in Istanbul and also in some other provinces such as Adapazarı.

It is also a fact which should be taken into consideration there are too many such facilities opening one after the after. This brings us the question “what to do” to diversify or at least be different if not unique, to ensure economic success.

To provide an example MEYDAN (Ümraniye) KANYON (Levent) and VIAPORT (Kurtköy) all in Istanbul could be considered to offer a new concept for citizens of Istanbul in terms of their architecture and layout certainly, if not the retailers therein.

In terms of the merchandise to be offered to retailers, the country is one of the best markets with an abundance of producers, both local and foreign.

Thus the issue of sourcing would never a problem. The issue would be the location and how to be different from all the others to attract big crowds with the budget to spend.

When AKMERKEZ opened the Istanbulites had only GALLERIA at Ataköy as a shopping mall and the former was a huge success – received some int’l awards, in fact – due to its elegant look, inner decoration, the quality of the stores in etc.

However today AKMERKEZ is certainly not the first choice of many Istanbulites also due to the tough competition from KANYON nearby.

To cut a long story short there is MUCH BREAD to eat in the retail sector in this country  provided the homework is done very well in prior to making such a decision. Turks LOVE TO SPEND ..

Editor
BUSINESS TURKEY TODAY

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