ECE adds two further Turkish centers to its management portfolio

ECE takes over the management of two further shopping centers in Turkey. These are MaviBahçe in Izmir which is currently under construction and Aqua Florya in Istanbul which has been in operation since November 2012.
On a leasable area of 60,000 m² MaviBahçe in Izmir will house more than 200 retailers, a department store, a consumer electronics store, 47 cafés and restaurants, a traditional market place, an IMAX cinema with 11 halls as well as large kids' play areas. The opening of MaviBahçe is scheduled for October 2015. ECE will take over the management of the shopping center as part of cooperation with the investor Opera Gayrimenkul. The investment volume amounts to approx. €180 mln.
Aqua Florya in Istanbul, which was opened in November 2012, is characterized by its unique architecture in the shape of a ship. It comprises 140 shops, a number of cafés and restaurants with terraces with sea view, an amphitheater with 900 seats and a cinema with eleven halls. ECE will also be responsible for the leasing of the shopping center. The investors are a consortium of the major Turkish construction companies Nuhoglu Insaat, Metal Yapi Konut, Alt ve Ust Yapi Insaat, and Nas Insaat. The project's investment volume was €130 mln. ECE will take over the management by the end of May.
Andreas Hohlmann, Managing Director of ECE Türkiye: “By taking over the management of these two centers, we managed to extend our portfolio in Turkey once more and added another two attractive centers to it. MaviBahçe and Aqua Florya provide premium shopping opportunities. Their locations in fast-developing urban districts will ensure great success. With our management experience and our services, we will create additional value at both centers for our customers and our investors”.
Source: ECE