Shopping mall turnover up 14 percent in April

ISTANBUL

The shopping centers’ turnover index increased by 14.2 percent in April from a year ago, according to a joint survey released June 10 by the Council of Shopping Centers (AYD) and Akademetre Research.

The number of visitors, however, showed a 3-percent decline in April compared to the same month of 2018, according to the survey.

Turnover per leasable area (square meters) was 1,326 Turkish Liras ($228) in shopping centers in Istanbul while the corresponding figure was 900 liras for shopping centers in the rest of the country.

The square meter efficiency index for the food category increased by 19.7 percent in April while the annual increases in the hypermarkets and clothing and shoe retailing segments were 18 percent, 15.8 percent and 12.3 percent, respectively.

Hulusi Belgü from the AYD predicted in December last year that combined turnover of shopping centers would hit some 160 billion liras in 2019.

Belgü also noted that there were 412 shopping centers as of December and those shopping centers were located in 63 provinces across Turkey.

He projected that eight or 10 new shopping centers would open in 2019.