14 August 2014

Record Results at Torun Shopping Malls According to the data provided by Torun Mall, the shopping mall management company of Torunlar REIC, Turkey's biggest local shopping mall investor; Mall of Istanbul, Torium Shopping Mall, Zafer Plaza Mall, Korupark Mall and Deepo Outlet Shopping Mall increased footfall in the first six months by 4.2 per cent, retail sales by 13 per cent in total on a like- for-like basis. On the other hand, according to the data provided by the Council of Shopping Centers- Turkey; footfall edged up by 3.1 per cent in the first six months for all the shopping centers in Turkey, retail sales increased by 4.5 per cent on a yearly basis. Torun Mall has performed above Turkey's average with the pick-ups in footfall and retail sales at the shopping malls under its management.

Torun Mall manages 5 shopping malls with a total gross leasable area of 355 thousand 941 square meters, consisting of Mall of Istanbul and Torium Shopping Mall in Istanbul, Zafer Plaza and Korupark Malls in Bursa and Deepo Outlet Shopping Mall in Antalya. Compared to last year, Torun Mall, raised its turnover per square meter to 463.3 TL by 18.1% on a like-for- like basis, and spending per visitor by 9.1%. Including the recently opened shopping malls in Turkey overall, these figures came out as 560 TL for turnover per square meter up 4.7%, with spending per visitor up 3.7% in the first six months.

Didem Aydın, Assistant General Manager of Torun Mall, expressing her opinion on this subject said, "Despite Turkey's current political and economical situation, limitation on credit card purchases by instalment and developments occuring in the Middle East Region, we performed above Turkey's average in regards to footfall and retail sales in the first six months at all the shopping malls that we manage. The specialization of our team as Torun Mall and 15 years of experience of Torunlar REIC in shopping malls, of course, play a big part in this success".

Attributing the spike in these figures to the aggressive growth target by both the local and foreign brands in the retail sector, Aydın, added that positive developments in the sector will

continue in parallel with Turkey's strong demographic structure and the increase in the purchasing power.
While a new gross leasable area of 223 thousand square meters has been added to the current shopping mall stock during the first six months compared with the 2013 year-end results in Turkey, Mall of Istanbul, which opened on May 23, 2014 with 95% pre-let occupancy rate makes up 69% of this GLA with its 154 thousand 868 square meters leasable area.

About Torun Mall Investment Management JSC:

Torun Mall, is engaged in the management of Torium Shopping Mall and Mall of Istanbul in Istanbul, Zafer Plaza and Korupark Shopping Malls in Bursa, Deepo Outlet Center Shopping Mall in Antalya that are owned by Torunlar REIC. Torun Mall, in charge of the shopping malls of Turkey's biggest shopping local shopping mall investor, Torunlar REIC, manages a total gross leasable area of 355 thousand 941 square meters. The Company manages 3.6 per cent of the total shopping mall space in Turkey.

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