45 Turkey Malls Costing $5 Billion to Open, Dunya Says

(Corrects number of malls to open in headline and lead.)

Forty-five shopping malls costing between $4 billion and $5 billion will open in Turkey this year, Dunya said citing Hakan Kodal, chief of a group representing mall developers in the country.

Turkey will have 340 malls with a total area of 9 million m2 of rent-able space by the end of 2012, Kodal said, according to the Istanbul-based newspaper.

About $12 billion of the $35 billion that’s been invested in Turkish malls is foreign capital, Kodal said, Dunya reported.

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To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net

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