Turkey jewellery city targets $10 BN in revenues

The Istanbul-based Jewellery City, the world�s largest integrated gold jewellery complex, expects to become fully operational by next year and generate annual revenues of $10 billion, according to reports. Built at an estimated cost of $200 million, the complex will produce 750 tonnes of jewellery per year.

According to reports, the primary target of the complex, which will integrate manufacturing and marketing operations, was to relocate small and medium factories from the historic Grand Bazaar.

Around 30 per cent of the 196,000 sq m of workshop area was already operational and another 20 per cent was set to start production in three to four months. But according to data distributed during a news conference, currently only 319 of a total 2,191 sites, or 15 per cent � including shops, offices and production areas � were functioning, the report said.