Home Recent News Shopping Center Development Pace in Turkey Slowing

Shopping Center Development Pace in Turkey Slowing

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Cevahir Shopping Center
İstinye Park Shopping Center
İstinye Park Shopping Center

According to the study carried out by Maptriks on the shopping center sector throughout Turkey, the rate of increase of shopping centers, which was 200 percent between 2005-2010, has fallen to 67 percent between 2010-2015. It is expected that the development pace is reduced by a further half in the next five years.

Maptriks, database source, software and consultancy company in Turkey, has published the results of its study concerning the development of shopping centers in Turkey.

According to the study displaying the progress of shopping centers in Turkey between 2000-2020, in five year periods, while there were only a total of 36 shopping centers in 10 cities in 2000, this figure has risen to 361 in 58 different cities, in 2015 – an increase of 903 percent.

Akasya Acıbadem Shopping Center
Akasya Acıbadem Shopping Center

However, when the five year periods are taken into account, it can be seen that the pace of development of shopping centers is falling. The number of shopping centers in 2010 were 216. This means that the pace of increase in the last 5 year period was 67 percent. When 114 shopping center projects currently at the construction and project phase this year are taken into account, the number of shopping centers is expected to rise by 32 percent in 2020, when compared with this year. This 32 percent increase in the next five years is almost half of the 67 percent increase in the previous five years. The pace of increase of shopping centers in the 2005-2010 period was around 200 percent.

18 Cities will remain without Shopping Centers

Zorlu Center, Istanbul
Zorlu Center, Istanbul

Another striking result of the study is that certain cities in Turkey are still expected to remain without a shopping center in 2020. When the plan for 114 shopping centers at the construction and project stage this year is taken into account, there will be no shopping centers in 18 cities in the Eastern and South-Eastern Anatolian regions in 5 years time. According to the results of the study, the cities which will remain without a shopping center are as follows: Adıyaman, Ağrı, Amasya, Bingöl, Gümüşhane, Hakkari, Kars, Kırşehir, Muş, Rize, Sinop, Tunceli, Bayburt, Şırnak, Bartın, Ardahan, Iğdır and Kilis.

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