17.08.2025 18:03
Due to the global economic crisis, many companies in Turkey have declared bankruptcy, and numerous shops in Merter, the heart of the textile industry in Istanbul, have closed their shutters. In the Sentez Shopping Mall in Merter, which cost approximately 50 million dollars and was expected to generate a monthly rental income of 1.25 million dollars, a large number of the shops have become vacant.
A major crisis is occurring at Sentez AVM, which cost 50 million dollars in Merter, Istanbul, and is expected to generate a monthly rent of 1.25 million dollars.
THE MAJORITY OF SHOPS HAVE VACATED
While the Turkish ready-to-wear sector is negatively affected by the global economic crisis, almost all shops in the giant shopping mall have vacated following the recent developments.
INVESTMENTS HAVE TURNED TO EGYPT
According to a report by Recep Erçin from Dünya Gazetesi, production investments directed towards Egypt, encouraged by buyer brands to balance costs, have led to many businesses remaining vacant in important centers of Istanbul such as Laleli, Osmanbey, and Merter. Experts say this situation has become one of the most concrete indicators of the crisis in the Turkish textile sector.