Turkey’s Rönesans to invest 1.7 billion euros in new shopping malls

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Turkey’s Rönesans to invest 1.7 billion euros in new shopping malls

Rönesans Real Estate Investment (RGY) has opened its extension of the Optimum Shopping Mall in İzmir with an investment of 105 million euros and will invest a total of 1.7 billion euros in seven projects in four years.

Operating within the scope of Rönesans Holding, one of the leading Turkish companies named among the 250 largest construction contractors in the world, Rönesans Real Estate Investment has launched an investment campaign in Turkey.

The company, which operates with eight Optimal, Piazza and Kozzy branded shopping centers in seven districts countrywide, has decided to invest 1.7 billion euros in seven projects in four years.

Vice chairman of Rönesans Real Estate Investment, stated that the company mostly undertakes shopping mall investments.

“Despite the slow economic conjuncture, we continue our investments non-stop. With the ongoing investments, we will realize seven more new projects in four years,” he said.

Noting that they will invest over 1.7 billion euros for Hilltown, Piazza Maltepe, Karşıyaka, Antalya Kozzy, Bursa AVM, Konak and Turan in both short and medium term, Özgümüş said that they will also invest around 1 billion euros in various districts in Izmir, namely Konak, Mavişehir, Turan and Gaziemir.

Vice president also stressed that they are aiming to provide additional employment for a total of 8,000 people together with the newly opened shopping malls.

Rönesans Real Estate Investment General Manager, on the other hand, said that the Optimum Shopping Mall had a leasable area of 58,000 square meters in the first stage and 28,000 square meters have been added in the second stage.

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