Multi Turkmall and Meinl European Land Limited have entered into an agreement for the development and sale of a 42,000 m² shopping center in the north-eastern Turkish city of Trabzon. The scheme will be anchored by a hypermarket and a large number of fashion stores, a department store, an electronic store and a sports store that will jointly act as co-anchors. The initial level of interest for the scheme from the national and international retail community is very encouraging. The start of construction is planned for mid 2006 and completion is foreseen some 18 months later.
The deal is based on a structure whereby Meinl fully funds the development of the scheme. Multi Turkmall Management will take care of the management and commercialisation of the center after completion, based on Multis vast experience in managing centers in countries like Portugal, Spain and the Czech Republic. Multi Asset Management will be responsible for the strategic value enhancement of the scheme in close cooperation with Meinl. At completion of the scheme Multi has the right to participate in the investment.
The city of Trabzon, with an estimated province population of 1 million people, is situated on the coast of the Black Sea. Trabzon has the main port as well as the busiest airport of the Northeast region, which gives the city, major development opportunities. The presence of the Black Sea Technical University is an extra asset.
Forum Trabzon is located at the waterfront, and is close to the city, the airport, and the university campus and has excellent accessibility and visibility from the surrounding main roads.
Forum Trabzon is a regional shopping mall offering approximately 42,000 sq.m. of retail and leisure on 3 floors, and 2000 parking spaces. With anchors like a hypermarket, department stores and a multi screen cinema, Forum Trabzon will attract visitors from all over the city, nearby towns and the Trabzon province. Unique for the region it will add a new dimension to the existing retail market.
Forum Trabzon offers a shopping experience through inner courts and gallerias. A public square is suitable for festivities, markets and special events. With its attractive multi-coloured and multi-dimensional facades and a lighthouse overseeing the Black Sea the shopping center will become a landmark and regional destination in the Trabzon province. Architects are T+T Design, Gouda, The Netherlands (masterplan), CPU, Lisbon, Portugal and
ARUP, İstanbul, Turkey.
Source: Multi Turkmall