It was just five or six years ago that growth of 20-25 per cent in the IT sector was considered normal. Today, the rate has fallen to around 5 per cent. In the shopping mall
sector, eye-catching growth figures, such as when it set a record of 41
per cent in 1987, are a long a way in the past. Because today the normal
growth rate for the sector is around 10 per cent....
It is possible to
say that “the norm has changed” for many sectors. Our survey of 26
sectors lays this out very clearly. It is striking that in 13 sectors
the parameters for both “normal” and “rapid” growth have fallen
considerably when compared with five years ago. In ten sectors the
average growth rate has remained the same, while in three sectors it has
Click image to see the table.
WHAT IS THE NEW NORM?
one looks at today’s “new norms” in sectors, one finds some strikingly
different figures. For example, in the shopping mall sector, the new
norm is less than half what would have been regarded as normal five
Multi Development Türkiye CEO Hulusi Belgü says: “The
sector recorded very high growth rates in 2007 and 2008. It grew by 41
per cent in 2007 and 29 per cent in 2008. Today, the norm is around 10
per cent.” He adds; “As the number of shopping malls has increased, the
sector has matured. For that reason, the percentage changes have begun
In the first nine months, the sector recorded growth of 11
per cent. This figure is expected to reach 15 per cent by the end of the