Retail
Real estate festival
During a real estate festival to be organized in April 2009 in Istanbul, companies will offer discounts up to 35 percent, Association of Mortgage Brokers (MBD) said Tuesday.
This event will bring new blood to the sector, MBD officials believed. The fair will take place at Istanbul Fair Center in April 2009. The highlight of the […]
Canadian investor for Multi Turkmall
Multi Corporation’s Turkey subsidiary, Multi Turkmall, has announced it will spend 4.3 billion euros on new projects and investments as part of its “Multi Turkey Real Estate Fund.”
The Investment Board of Canada Pension Plan, or CPP, became the first founding investor to the Multi Turkey Real Estate Fund with a 250 million euro commitment, according […]
Multi establishes new Turkish fund
Multi Corporation, Europe’s largest retail developer announced Friday it has closed a deal on a new Turkish retail property fund.
The Multi Retail Turkey fund is a real estate development platform consisting of 21 shopping centers throughout Turkey. The establishment of the fund has meant the creation of Turkey’s largest retail real estate asset portfolio and […]
Migros to merge with Moonlight Turkish unit
Moonlight, a subsidiary of the private equity firm BC Partners, has pushed the button for a merger operation with Turkey’s leading retailer, Migros Türk.
During a meeting Dec. 5, the Migros board decided on the merger of the company via a takeover by the Moonlight’s Turkish unit, Moonlight Perakendecilik. The merger will take place on the […]
Turkey mulls plan to extend bank deposit terms- paper
Turkey is planning to lower a 15 percent withholding tax on savings deposits kept in banks for at least one year in an effort to encourage banks to lend to the real economy, Radikal newspaper said on Thursday, without citing sources.
The Turkish government is working on a stimulus package to restore investor confidence, improve consumer […]
High consumer demand will lead to market recovery
Consumer demand in Turkey has not declined and still remains strong despite ongoing global financial turmoil, a fact that is likely to help domestic markets recover during the first few months of 2009, a poll conducted by Ipsos KMG, one of the world’s leading survey-based marketing research firms, has shown.
Yesterday Ipsos KGM Turkey […]
Anatolia saturated with malls while big cities still hungry for more
AMPD Chairwoman Nusin Oral addresses the managers of shopping centers in Antalya.
The number of shopping malls across Anatolia has flourished dramatically in recent years, approaching market saturation, but the demand for more shopping malls in big cities is still waiting to be met, Nusin Oral, the chairwoman of the Association of Shopping Centers […]
Deadline for Kanyon: Rent cut or the shutters go down
Tenants of some of Istanbul’s largest shopping malls are threatening to end their contracts unless immediate rent cuts are applied. The shops in the Kanyon mall are joining suit with those in the Akmerkez Shopping Center and have given management a 48-hour ultimatum.
SABAH’s article yesterday regarding tenants in both the Akmerkez and Kanyon Shopping […]
Turkish retailer Carrefoursa plans further expansion, freezes prices
Turkish supermarket chain Carrefoursa said on Wednesday it planned to open new stores next year despite an expected economic slowdown.
Carrefoursa, a joint venture between Turkey’s Sabanci Holding and French giant Carrefour, said it had invested more than 100 million YTL ($60 million) in 2008 and opened 38 stores and planned to maintain that growth for […]
Shopping malls take measures against global financial crisis
The current global financial turmoil has forced shopping mall managers to take measures to avoid losses. Recently, companies that manage malls in various cities have raised rents due to more challenging foreign exchange rates, which is an indicator of the current financial crisis. In response, some shop owners in the shopping malls affected have begun […]
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