Surprising statements from the CEO of Alman about shopping malls.

ECE Türkiye Marketing and Marmara Park Shopping Mall Manager Selma Birinci made significant statements about the dynamics of the shopping mall (AVM) sector. Birinci emphasized that Turkey is subject to a different evaluation, particularly in a sector that has been keeping the agenda busy with recent consolidations and rentals. She stressed that the notion of 'no more shopping malls will be built' is incorrect, stating that the potential in Turkey is still high.

Highlighting the importance of accurately assessing regional investments, population, and new brand entries, Birinci explained this specifically using the example of Marmara Park. Marmara Park stands out as one of the projects managed by ECE Group, which also owns the property. Birinci noted that this shopping mall hosts 50 thousand visitors on weekdays and 70 thousand on weekends. She emphasized that this visitor traffic is achieved through the right location and brand mix.

Noting that there has been a transformation in the retail sector following the pandemic period, Birinci also pointed out that there are difficulties in some projects. Using the example of Galleria, she highlighted how important it is for such projects to evolve in a timely manner. She stated that if the right changes are not made, unexpected outcomes could be inevitable. She mentioned that the effects of high inflation are felt in the separate evaluation of Turkey.

Bearing in mind the high inflation in the country, Birinci also expressed that consumers are adopting a cautious approach in their spending habits, and this situation is bound to reflect on sectoral developments. However, she argued that investments in shopping malls are still valid with the right location and concept.