The company will capitalise on its expertise to further extract operational efficiency from its shopping malls under its management.
The company will capitalise on its expertise to further extract operational efficiency from its shopping malls under its management.
All the projects in the pipeline will start this year and be completed by 2013-2014.
Total sales in 2011 are expected to reach TRY 150 million with 40% derived from residential sales.
No new opening or delivery will take place in 2011. The major part of sales revenue will come from shopping malls including Torium which will operate full year.
As EBITDA of shopping malls is at around 80%, company EBITDA is expected to be higher than in 2010 at TRY 90 million.
For the upcoming years, 10% annual LFL growth is forecast in rental revenues.
The company will chase further acquisition opportunities with its favorable cash position.