A significant number of Turkish and Russian companies have entered PropertyEU's latest ranking of Top 50 Retail Developers in Europe.
A significant number of Turkish and Russian companies have entered PropertyEU's latest ranking of Top 50 Retail Developers in Europe.
No less than four Turkish and three Russian players feature prominently in the top 20. Russia's Amma Development swept into fifth place this year, with Crocus Group and RosEvro Development at nr 8 and 10 respectively.
Turkmall heads the Turkish delegation in sixth position, followed by Renaissance Development (12), Torunlar GYO (13), Vialand AVM (14) and Metta (15).
Turkish and Russian developers are set to retain a prominent place in the coming years given the size of their respective countries’ pipelines. While ECE retains its top position in the ranking, the volume of completed projects was lower than last year, suggesting that the retail development market may have peaked in Western Europe or is stabilising.
The ranking is based on projects delivered between 2012 and 2014 and includes extensions.