Shopping center

Türkiye’s malls struggling under heavy debt

Despite booming retail sales, many of Türkiye's shopping centers are struggling under heavy debt, according to Nuri Şapkacı, the president of the Council of Shopping Centers (AYD).

"Some 60 to 70 percent of the 445 shopping malls in the country have already been taken over by banks, while the remaining ones are struggling to survive," Şapkacı said.