Turkey is reported to have a rapidly expanding shopping mall sector. It is expected that this sector aims to raise revenues by 25% this year to 20 billion lira even though the country has experienced sharp economic contraction amid the global financial crisis.
This growth however is reflected in the growing number of shopping centers...
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Archive for April, 2009
Revenue Increase Aimed in Turkey Shopping Malls
Economic Crisis Slaps North American Malls
Reis.com is a New York based company that analyzes U.S. real estate trends. Reis indicated that the country’s mall sector has not surprisingly shrunk by 8.2 million square feet in the 2009’s first quarter equaling the total shrink in 2008 alone. This was the largest single quarter decline Reis has ever recorded since the...
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Cold Shoulder by Mall Investors
The global recession has had its effects across the mall industry from delayed projects to frozen funds on numerous projects for retail centers. In addition to this, we have many tenants to who are demanding lower rents.
Newly finished shopping malls such as the Mall of Plovdiv or Bourgras Plaza in Bulgari are now enjoying...
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$1.5 Billion to be Invested in Turkey Malls
A reputable real estate company in Germany, Prime Development, reported on Tuesday that it was planning to invest an incredible $1.5 billion in building shopping malls in Turkey. The first slate of investments totaling a net value of $350 million would be invested in the southern cities of Antakya and Iskenderun and would be...
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Huge Buyout Sought in Shopping Malls in Poland, Czech Republic
Bloomberg: Atrium European Real Estate Ltd, the second-largest Austrian property developer by market value and well to do financially, has indicated interest in purchasing shopping malls in Poland or the Czech Republic in the next six months, before commercial real-estate prices rebound.
The Jersey-based company had 1.05 billion euros ($1.48 billion) in cash and cash...
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Rent Rebates Offers as Tenant Incentive at New Malls
Orchard Central Mall is scheduled to open in early June and has cut its rent by 10% to 30% in an effort to lure tenants on a case-by-case basis to do so. Its one of the latest malls to do so with Ion Orchard Mall announcing last month that it would offer up to...
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