McArthurGlen join forces with Fiba Group to open Istanbul’s first two Designer Outlets

McArthurGlen, Europe's leading owner, developer and manager of designer outlets, has partnered with Fiba Group, Turkey's leading international financial and retail group, to open the first two designer outlets in Istanbul, Europe's largest city.
Reflecting an investment of over €250 million, McArthurGlen will open one Designer Outlet on the European side of Istanbul, near the new international airport (set to open in 2018 and to be the world's largest airport), and the other in a university suburb on the Asian side.
The two new Istanbul centers will offer the most sought-after international and national, luxury and premium fashion brands, with year-round savings of 30-70%, in vibrant and stylish shopping environments. The two Istanbul Designer Outlets will be the Partnership's first in Turkey, with further centers planned across the country.
Claude Hargreave, McArthurGlen's Regional Development Director, says: "Istanbul offers everything we look for in a market: an exceptionally strong local partner in Fiba Group; a large catchment, with significant purchasing power and a love for fashion; a spectacular tourist destination; a developed local fashion industry; and easy access to the chosen locations, both by car and public transport." The two planned McArthurGlen Designer Outlets will initially offer a total of more than 66,000 m² with each one offering over 33,000 m². Both will be built in phases, with the first phases being 20,000 m².
Construction of both McArthurGlen Designer Outlets is planned to begin in 2015, with openings projected for 2016.
Source: McArthurGlen