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'Turkey's retail market has started to bounce back and consumer spending is very promising. We could place this capital within the next two years,' he added.
In a further sign that Turkey's retail market is flourishing, many projects that were put on hold after the financial crisis struck in 2008 are now coming to market, according to Artug Çetin, managing director at Prime Development. He estimates that between 50 and 60 shopping centres are due to open across Turkey next year.
One such centre is Prime Development's own 57,000 m2 scheme in Gaziantep, one of Turkey's oldest cities. The centre, which is already 50% pre-leased to a mix of unnamed tenants, including international apparel retailers, is due to open at the end of 2013.
