A new shopping attraction in the Turkish metropolis celebrates its premiere: after a construction period of 21 months, the Marmara Park in Istanbul opens its doors on Thursday (Oct 18, 2012) at 10 a.m. with approx. 250 specialist stores, restaurants, cafés, and a cinema on four floors. With an overall leasable area of approx. 100,000 m² including enclosed Bauhaus market and a Real hypermarket as well as approx. 4,000 parking spaces the Marmara Park is one of the largest shopping centers in Turkey.
The closed real estate fund of DWS as investor of the 220 million project holds 50% of the shopping center. DWS belongs to the Deutsche Bank group. The remaining 50 % are owned by ECE / the Otto family. The financing bank is the Turkish Finansbank, which provided a loan of up to 115 million.
Alexander Otto, ECE CEO: "With the Marmara Park in Istanbul we are continuing our expansion in the growing Turkish market. We are once again setting standards with the unique combination of a galaxy concept and an excellent tenant mixture."
Hermann Wüstefeld, Head of DWS ACCESS: "For DWS it is a great pleasure to be co-owner alongside ECE of this great new shopping center in dynamic Istanbul. Marmara Park is another milestone in the more than 30 years long excellent cooperation between ECE and DWS."
The shopping center completely picks up the 'galaxy' design theme. Planet models and illumination create a spectacular outer space atmosphere making the center distinctive. Furthermore, large power of attraction is created by the center with its mixture of retail and entertainment. The around 250 national and international tenants include among others Saturn, Cinemaximum, C&A, H&M, Zara, Koton, Victoria's Secret, LC Waikiki as well as Boyner.
The shopping center is located in Beylikdüzü-Esenyurt, one of Istanbul's fastest growing districts. The center has a catchment area comprising more than four million people and is excellently accessibly via a metro bus station, several bus lines, and its own exit from Istanbul's main traffic artery E5.
The Marmara Park is already the 11th Turkish center under ECE management.
Source: ECE
