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Nova Shopping Mall is a modern retail center in Manavgat, Turkey, situated at 8096 Sk. No:5, approximately 70 km from Antalya. Opened in 2016 and owned by ISRA Holding, it spans 100,000 square meters of gross leasable area across three levels, accommodating 150 stores with a 10% unique concepts ratio. The tenant mix features high diversity, anchored by major retailers such as Migros for groceries, H&M, LC Waikiki, and Koton for fashion, alongside categories emphasizing apparel, dining, and home decor.
Market position in Manavgat, the second-largest district in Antalya and a key tourist hub, benefits from a primary catchment area of 5 km radius and secondary of 10-20 km, serving a population of 1,000,000 with 1.5% annual growth. Occupancy stands at 95% with 5,000 square meters available, supported by annual footfall of 5,000,000 visitors and projected 5% growth. Average dwell time is 120 minutes, with 40% visits for shopping, 35% for dining, and 25% for home decor.
Leasing advantages include flexible medium-term leases at 25 EUR per square meter monthly, direct access to main roads, high public transport connectivity, 1,000 parking spaces, and 50 annual promotional events. Sales per square meter reach 5,000 EUR yearly, with a 30% conversion rate. However, challenges include high e-commerce competition at 25% click-and-collect adoption and 80% internet penetration, plus five nearby competing malls within 10 km.
Operational quality is bolstered by CCTV security and digital signage, though retail crime occurs at 5 incidents per 1,000 visitors. The demographic profile features a median age of 33, household size of 3.2, 40% tertiary education, median household income of 30,000 USD, and per capita retail spending of 4,600 USD, with allocations to apparel at 920 USD, groceries at 1,380 USD, and electronics at 460 USD.
Unemployment is 8.5%, and cost of living index is 50 (US=100). Young adults seek more trendy fashion and diverse dining, indicating opportunities for targeted leasing in sustainable brands and international cuisine amid tourism-driven footfall peaks.
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Hours of Operation
Hours
| Monday | 10:00 AM — 11:00 PM |
| Tuesday | 10:00 AM — 11:00 PM |
| Wednesday | 10:00 AM — 11:00 PM |
| Thursday | 10:00 AM — 11:00 PM |
| Friday | 10:00 AM — 11:00 PM |
| Saturday | 10:00 AM — 11:00 PM |
| Sunday | 10:00 AM — 11:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment
The primary catchment area within 5 km and secondary 10-20 km encompass 1,000,000 residents with 1.5% annual population growth. Median age is 33 years, household size averages 3.2 persons, and 40% hold tertiary education. Median household income stands at 30,000 USD yearly, supporting per capita retail spending of 4,600 USD, including 920 USD on apparel, 1,380 USD on groceries, and 460 USD on electronics. Unemployment rate is 8.5%, with a cost of living index of 50 relative to the US at 100. As a tourist destination, seasonal influxes boost spending, but local market saturation in fashion categories poses risks for new entrants reliant on steady domestic traffic.
Competition and Accessibility
Five competing malls exist within 10 km, contributing to medium competitor density, while high e-commerce penetration at 80% and 25% click-and-collect adoption intensify online rivalry. Accessibility strengths include direct main road proximity, high public transport links, and 1,000 parking spaces, driving high pedestrian traffic. Annual footfall of 5,000,000 visitors yields 5% projected growth, with average dwell time of 120 minutes. However, tourism dependency may lead to off-season dips, and infrastructure in Manavgat could face congestion during peaks, impacting consistent performance for non-tourist-oriented tenants.
Lease Terms and Operational Factors
Average rent is 25 EUR per square meter monthly, with medium flexibility in lease terms and 95% occupancy indicating stable demand. Available space totals 5,000 square meters. Operational quality features 50 promotional events yearly, digital signage, and CCTV with guards, achieving 20% loyalty program penetration and 30% conversion rate. Sales average 5,000 EUR per square meter annually. Drawbacks include retail crime at 5 incidents per 1,000 visitors and potential footfall reductions triggering rent adjustments in some contracts.
Aging aspects are minimal given 2016 build, but market saturation in apparel and need for diverse dining expansions present challenges for optimizing tenant mix performance.
Building Details
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City Snapshot
Manavgat
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City Snapshot
Manavgat
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