Corio has identified Turkey as a new market with excellent prospects. A number of demographic and macroeconomic indicators confirm this picture. The population of nearly 75 million is growing and in recent years Turkey has also stabilised politically and economically. The shopping centre market in Turkey is clearly still in a development or growth phase. The amount of space in shopping centres is very limited, certainly when compared with the population. The number of large cities also gives the Turkish market enormous potential; for example, there are six cities with a population of over a million, six with more than half a million and a further 45 with over 100,000 inhabitants. And urbanisation is still continuing. Istanbul is by far the most important metropolis in Turkey. In 2005 Corio got the opportunity to take its first step in Turkey by acquiring a 47% interest in the most well known shopping centre in the country and Istanbul: Akmerkez.

(data as per 30.06.2007)