Istanbul’s trading companies, which moved their shops and offices away from the city centre, focused on the central districts.The main reasons are transport and logistical problems and staff difficulties outside the city.
As you know, the move was caused by an increase in rental rates and the emergency condition of many buildings in the centre of the largest Turkish metropolis. The authorities are involved in changing cities by tearing down old buildings and implementing new ones that are earthquake proof. Nevertheless, many quarters have been put in order. High customer potential, more developed infrastructure, diverse cooperation opportunities and higher profits make merchants get back to the city centre.
It is easier to sell various goods and promote services in central areas with high customer traffic bringing profit to the country's economy.
According to the latest estimates, the total number of merchant jobs in Turkey is 2,441,813. 11.8% of this figure is in Istanbul, where there are a total of 287,887 jobs. Although rental rates in the non-residential real estate segment are growing much faster, the demand for commercial lots is high, especially in the most sought-after areas.
It was reported about the fate of the famous Istanbul shopping centre — İstinyePark Istanbul AVM.