Multi Corp., a Morgan Stanley-backed developer, is planning to launch a multibillion-euro REIT within the next three to five years that will be quoted in Istanbul and consist of only retail properties, according to CEO Glenn Aaronson. "We're going to forge on and be an investor and developer in Turkey and we're going to end up floating a Turkish REIT, which will be the largest Turkish REIT in the market," he said. Meanwhile, the company is focusing on investing in redevelopment in Europe's retail sector, including the markets of the Netherlands, Germany, Portugal, Spain, Turkey, the Czech Republic and Poland.

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