Turkish Forum

Tag: shopping malls

  • Istanbul Shopping Fest Starts Friday, March 18

    Istanbul Shopping Fest Starts Friday, March 18

    Published by Ozgur Tore

    Istanbul Shopping Fest (ISF), which is an annual festival that will enable İstanbul to become the shopping, culture and entertainment center of the world, is starting Friday, 18 March 2011 at Istinye Park shopping center.

    shopping fest istanbulisf11Istanbul Shopping Fest will officially start with the ‘Gong Sound’ after the speeches made by Istanbul Chamber of Commerce President Murat Yalçıntaş, ISF Presidents Mehmet Nane and Hakan Topal. Turkish celebrities will open the ceremony.

    In parallel to ISF, Vogue Turkey magazine is also celebrating its first year in Turkey.

    The festival will kick off with two parties held by fashion magazine Vogue in İstinye Park shopping center and Cosmopolitan magazine in Torium shopping center on Friday night.

    Hundreds of brands from various sectors including ready wear, fast food, jewelry and glassware are running huge discount campaigns as part of Istanbul Shopping Fest, which will last 40 days and 40 nights starting March 18.

    It is expected that ISF will contribute a $500 million to Istanbul’s total retail trade.

    Companies will sell their new collections with discounts varying between 30 percent and 50 percent. Some of the shopping centers in Istanbul will remain open until 2 a.m. during the festival.

    Schedule of the Long Shopping Nights

    Long shopping nights become even more glamorous with special events and additional shopping opportunities.

    – March 18 – 19: Torium and İstinyePark – until 2 am

    – March 19: : 20.00- 02.00: İSF- ELLE official opening party – Abdi İpekçi avenue;

    – 19.00- 02.00 İSF- Turkcell party- Bağdat avenue;

    – 19.00- 02.00 İSF Concerts– Taksim square

    – March 26: Akmerkez ve Palladium – until 2 am

    – April 2: Kozzy ve Metrocity – until 2 am

    – April 9: All festival streets – until 12 am

    – April 16: Olivium Outlet ve Optimum Outlet – until 2 am

    – April 23: Kanyon – until 2 am

    – April 26: All festival streets and shopping malls – until 2 am

    For more information about the ISF visit www.istshopfest.com

     

  • Prime Development to invest $1.5 bln in Turkey malls

    Prime Development to invest $1.5 bln in Turkey malls

    aISTANBUL, April 21 (Reuters) – German real estate company Prime Development said on Tuesday it planned to invest $1.5 bln in building shopping malls in Turkey.

     

    The first two investments in the southern cities of Antakya and Iskenderun, with a total value of $350 million, would be completed within a year, the company added.

     

    Shopping malls have sprouted across Turkey at a dizzying pace in recent years, with foreign money attracted by Turkey’s large, young and increasingly prosperous population of over 70 million. Global property services provider Savills (SVS.L) said in a recent report that while Turkey was not immune to the kind of economic strain seen in Western Europe, the country remained attractive to international retailers looking to gain a foothold in the eastern European/central Asian region.

     

    Further to the arrival of key fashion brands such as C&A, Tommy Hilfiger, Accessorize, Zara, Mango and Gap, Savills said U.S. electricals retailer Best Buy and French DIY retailer Leroy Merlin were also preparing to open their first stores.

     

    According to Savills, average yields for Turkish retail real estate have increased by 25 basis points on a quarterly basis in the first quarter of 2009. Prime retail yields are at 7.75 percent and up to 8.75 percent for secondary properties. (Additional reporting by Sinead Cruise in London, editing by Will Waterman)

    Reuters