“Malls in Turkey” – High Revenues

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Shopping Centers and Investors Foundation (AYD) Chairman Hulusi Belgü has assessed the results of the AVM Index (Shopping Centers Index) which was made in coordination with Akadametre Research. It is stated that the combined revenue from AVMs in 2017 amounted to 110 billion Turkish Liras (25 billion US dollars)

Penti Executive Board Chairman Sami Kariyo, Watson Turkey Chief Executive Mete Yurddaş and "Akademetre Research" Executive Board Chairman Halil İbrahim Zeytin were also present in the meeting in which the findings were announced.


Future Prospects

Hulusi Belgü, who conveyed the statistical information, conveyed his opinions about the future of Turkey's economics. "Turkey has gone through troublesome times throughout 2016 and 2017", he said. "There was a significant drop in incoming tourists. The geopolitical landscape around our country is causing diferent concerns in people but our financial turnovers have continued to rise despite this fact."


Although there were some drops starting from July 2016, it was soon re-established. The rise continued in 2017 and now we have reached a financial turnover value of 110 billion Turkish Liras. It is continuing to rise well above the inflation. We are aiming for 125 billion in 2018 and 200 billion in 2023." (Which is 100th anniversary of Turkey's republic – a date on which many hopes and promises are placed.)

Rising Expected

Belgü has pointed out that the number of shopping centers which was 397 in 2017, is expected to reach 410 in 2018 and 475 in 2023. He also underlined the fact that foreign investments have had a significant part in the development of the AVM industry in Turkey. He suggested that the industry has evaluated 58 billion US dollars worth of investments in total; and from the measured 397 AVMs, 82 were adopted by foreign investors.

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