Noting that 24 new shopping malls were opened in 2009, increasing the total number of shopping malls in Turkey to 238, with the aggregate surface area occupied by these shopping malls at 5.7 million square meters, Kodal said the shopping malls’ total turnover has increased from TL 18 billion to TL 22 billion.
Speaking to the Anatolia news agency yesterday, Kodal put forth his assessments regarding the performance of shopping malls in 2009. “We experienced the worst period in 2009. Our expectations for 2010, on the other hand, are quite optimistic. This year will be a time of recovery. Our members are expecting to benefit from a 10 percent average rate of turnover per square meter,” he added.
Taking the current plans of investors into account, 38 new shopping malls will open this year, Kodal said, predicting that the total turnover will rise to TL 27 billion. After the completion of these projects, there will likely be fewer new malls, he noted. However, in the coming years new shopping malls will once again be in demand.
He also commented on a draft bill prepared by the Ministry of Industry and Commerce to regulate shopping malls and supermarkets, saying it is a protectionist measure in favor of small stores and shopkeepers. Kodal said the draft must not include restrictions regarding the opening and closing hours of the malls. “This would be a great mistake,” he claimed.
A survey conducted among the AYD’s members has shown that all companies in the business wanted to stay open seven days a week with flexible working hours, Kodal recalled, adding that “50 percent of our turnover is on Saturdays and Sundays. You just can’t copy and paste the same model as in France or the US. Our customers want to entertain and shop on Sundays, too. It would be wrong to adopt a structure that is not suitable for Turkey’s realities.”
