Nico Veldhuis to leave Multi

Multi Corporation announced on Wednesday that Nico Veldhuis is stepping down as vice chairman of the pan-European retail developer's Turkish operations to become an independent project manager.

'Following his recent cooperation with colleagues for the successful delivery of Forum Istanbul in Turkey, Nico Veldhuis has decided to go further as an independent project manager. In good consultation his cooperation with Multi will end by 15 January 2010,' Multi said in a short statement.

Veldhuis was one of the key figures behind the expansion of Netherlands-based Multi Corporation into the Turkish market. The news of the Dutch national's departure comes weeks after the opening of the 175,0000-m² Forum Istanbul shopping centre.

The scheme is the jewel in the crown of Multi's work in Turkey. The mall involved an investment of EUR 750 mln and is the largest shopping centre in Europe as well as Multi's most ambitious project to date. Some 2.5 million people have visited Forum Istanbul since it opened.

Multi's operations in Turkey, carried out by its Multi Turkmall division, are headed by a managing director. Multi has six ongoing projects in Turkey, with the next scheme openings scheduled from 2011 onwards. Multi has already delivered eight shopping centres in the country.

Veldhuis joined the Multi group in 1997 and was charged with the international expansion of the company's activities. He has been based in Turkey in recent years. Before Multi Veldhuis was real estate director at retail company Vendex International for seven years.

Multi is active in 14 countries and it opened 10 schemes across Europe this autumn.