Turkish Retail Sector Still Awaiting For A New Legislation

Astonishing growth of the Turkish economy, which had managed to reach an average growth rate slightly more than 5%, during the last ten years have created a dynamic retail sector especially by increasing the disposable income which stands at USD$ 7700 per capita. Especially the well known brands operating in the retail sector have increasingly found themselves inside the growing number of shopping malls. During the course of the last decade Turkey had experinced a boom in the number of shopping malls.

Growing Number of Shopping Malls

In 2003 the country had only have 62 shopping malls, today the number have increased more than fivefold to reach 315. The total area available for rent inside the shopping malls is currently 8.7 million square meters. The total area available for rent inside the shopping malls is expected to exceed 13 million square meters in 2015. Especially The transactional volume had reached unprecedented levels especially in the hypermarket type