Economic crisis hits shopping malls: Store closures by famous brands are increasing at Nev Çarşı in Üsküdar

Recently, the cessation of operations by the Koçtaş home improvement store, owned by the Koç Group, and the Altınyıldız Classics brand at the mall has become a concrete indicator of the economic difficulties being experienced in the shopping mall sector.

According to information obtained, store owners at Nev Çarşı are experiencing difficulties in paying rent.

Efforts are being made to establish a new agreement ground between the mall management and the stores to share rental costs based on turnover.

This reveals that the economic crisis and the high rent burden are making it increasingly difficult for stores to continue their operations, especially in metropolitan cities.

Nev Çarşı, which is part of the Nevbahar Üsküdar project developed by Kalyon GY, one of Kalyon Holding's real estate companies, was planned as one of the region's important commercial centers with approximately 30 thousand square meters of leasable area. However, recent developments show that this project has also taken its share of economic fluctuations.

The fact that even strong brands like Koçtaş and Altınyıldız Classics have had to suspend their operations is a sign that shopping malls are going through a challenging period in the current economic environment.

Sector representatives state that reducing the rent burden and implementing more flexible payment models are critical for the survival of shopping malls and stores.

The example of Nev Çarşı has drawn attention as a vivid reflection of how the general economic crisis is affecting consumer spending and the commercial leasing sector.

News Source: 12punto