Wrong investments are natural
Fulya Bayrakta Öztürk
What are your goals during the term of your presidentship?
In the Shopping Center Sector have made really substantial investments and they are stil going on.It is important that to get good value for investment’s money. For this,first of all we have generated a DataBank which contains sector datas,to institutionalizationing and being transparent.We have to be intervenor as AYD about legal regulations for the sustainable success for our sector.
In Turkey, the retail and shopping center sector showed important improvements and also became the shining star of Turkey. How do you evaluate this progress? What have the retail and shopping center sector managed?
As you say, the organized retail has become one of the leading sectors in Turkey.So that,It began to have a voice even in Europe. Considerable success was achieved in a short time period. In early 2009, the investment amount of $ 25 billion was reached with 60 percent increase to $ 40 billion today. Nowadays, over 360 thousand people work in the shopping center sector in Turkey.If we accept each family for 4 person,it means,we are touching the lives of over than 1 million people.Shopping center’s giro was came from $ 19 billion to $ 50 billion last five years.
There are a lot of good news in sector but also the wrong investments are quite sad. According to you,How can the retailers stop this wrong investments?
Primarily, it is necessary to creating right project, managing the right mix of brands and administering the organization in the right way. If there is an error in any one of these stages , unfortunately,there will be problems,shutting downs or changing the functions of shopping center like every sector.The firms have to be tranparent,objective,also use the reliable information to prevent from amiss investments.By the way, Taking advice from experienced institutions or persons and thinking for long term are really important in these steps.
Because of the 100th anniversary of the Republic 2023 targets are created in every sector.Targets are of course important but in your opinion,How will the shopping center and retail sector be in 2023 vision?
Istanbul was the key point for trade and civilization due to its strategic location for centuries. In the last 20 years, Istanbul was changed and developed so much. By courtesy of these reasons, It has become famous both in Europe and in the Middle East nowadays.We can see this situation very clear when we analyse the organized retail sector.Until 2023,we are predicting that every city in Turkey will have at least one shopping mall.Especially İstanbul will become a shopping,entertainment and vacation destination for region countries.