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Shopping Centers at Crossroads |
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Friday, 01 February 2008 03:09 |
While the tenants are struggling to keep their leased spaces inside the rapidly increasing number of shopping malls, the chain stores and manufacturers  keep fighting to secure spaces of their own. A research conducted by the local Economist Magazine on 42 shopping centers sheds light on the common questions of these tenants. Today, there are 179 shopping centers in Turkey. The magnitude of the industry has reached 3.5 million square meters.
While the construction of almost 100 centers is in progress, there are other almost 100 projects that are projected to be finished in the upcoming 4 to 5 years. While some neighborhoods are already considered saturated, industry representatives draw attention to the fact that if the investments keep going at this pace, some developers might have to convert their shopping centers into hotels, hospitals or schools. A major issue that upsets the retail tenants is about the common maintenance fees. Some shopping malls charge common maintenance fees that reach $25 - $30 per square meter. Most of the tenants are complaining about this situation and they are asking for the details of costs to be shared with tenants. This is a translation of only a small part of this article. The original article is over 2,200 words. If the article is not updated by the time you read it, feel free to ask how you can obtain it. Source: Milliyet |
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Last Updated ( Saturday, 16 February 2008 20:01 )
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