With 20 new stores, electronics retailer MediaMarkt is planning to invest TL 95 million ($24.49 million) in Turkey this year, MediaMarkt Turkey CEO Yenal Gökyıldırım has said.

Noting Turkey as one of MediaMarkt's fastest growing markets, Gökyıldırım said last year the retailer doubled in size in Turkey, with a 30 percent increase in total sales. "Now, we want to maintain that growth rate."

Speaking at MediaMarkt's annual review meeting, he said Turkey, alongside Germany and Spain, are the top three countries driving up the retailer's sales figures.

"Turkey will be one of Europe's largest markets for our group in 2020. Turkey is very important for us," he said, adding that compared to other countries, where MediaMarkt operates, Turkey will receive a bigger share of investments with at least 20 new stores planned for this year only.

Operating in 15 different countries, MediaMarkt is Europe's number one electronics retailer with a turnover of 22 billion euros.