Pan-European retail investor VastNed Retail has entered Turkey with the purchase of an Istanbul shopping mall for EUR 9.7 mln. Newly built, the Sisli mall comprises 4,850 m[sup]2[/sup] of retail space as well as 200 parking spaces. Located in one of the most prominent districts of the city, the mall is anchored by a Tansas supermarket and the rest of the centre is let mainly to national retail chains.

Pan-European retail investor VastNed Retail has entered Turkey with the purchase of an Istanbul shopping mall for EUR 9.7 mln. Newly built, the Sisli mall comprises 4,850 m2 of retail space as well as 200 parking spaces. Located in one of the most prominent districts of the city, the mall is anchored by a Tansas supermarket and the rest of the centre is let mainly to national retail chains.

VastNed Retail, a Netherlands-based investor, is planning to expand its portfolio in Turkey to EUR 160 mln within the next two years. Ceo Rainier van Gerrevink said in an interview with Dow Jones that the company is exploring several options at the moment and, if the expansion plan does not work out, VastNed will leave Turkey. The retail-focused investor is attracted by the relatively low price levels for assets and the fast-growing economy in the country. VastNed is also setting up a local organization in order to support the expansion, Gerrevink added.