Turkey's shopping mall revenue reached $30B in 2017

By Eda Fatma Topcu

ISTANBUL

The revenue of Turkey's shopping malls reached 110 billion Turkish liras ($30.1 billion, based on last year's exchange rate) in 2017, the head of the Council of Shopping Centers Hulusi Belgu said Friday.

"The increase continued in 2017 and we garnered 110 billion Turkish liras of revenue," Belgu said.

Belgu said Turkey targets 125 billion Turkish liras in revenue in 2018 and 200 billion Turkish liras in 2023.

He added that despite the fact that Turkey experienced difficult times in 2016 and 2017, revenue from shopping malls continued to increase.

Belgu expects the number of shopping malls and visitors to increase to 410 and 2.3 billion, respectively.