Retailer 'opening new Turkish venues'
Real Hypermarkets - the German retailer - has announced that it wishes to tap into the Turkish market and open up new stores in Istanbul.
The firm stated that it wants to develop 2 department stores in the city, something that would cost around 70 million euros (£47 million), reports the New Anatolian.
Once opened, the company stated that revenue from each of the stores is likely to be about 240 million YTL (£91.6 million), news that may be of interest to both commercial and residential property developers.
In addition, the chain stated that it wants to open a further 3 stores in Istanbul in the future and 4 elsewhere.
Director for Turkey at the company Ulf Groth said that these are the company's expansion plans.
Recently, the Turkish Central Bank stated that a growing number of small and medium-sized businesses are investing in the country, in part due to the strong economic situation in Turkey.
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