Modern East shopping centre on the Asian side of Istanbul has opened its doors today. It comprises 140 specialty stores on four floors, a large food-court with 1,500 seating capacity, 36 restaurants and cafés with open terraces, various service and entertainment units, and 3,000 parking spaces. The shopping gallery boasts a GLA of 60,000m². After the completion of the second construction phase, Modern East will comprise a GLA of 90,000m² with 240 shops, and will thus be one of Istanbul’s largest shopping destinations. It will generate 2,900 new jobs. The €200m shopping centre, which is part of a mix-used project, includes three office towers with a GLA of 67,000m² and one residence block with more than 600 high-end apartments. Approximately 6,500 people will be working in the office blocks. In addition to the concept optimization and leasing, ECE Türkiye has also been entrusted with the long-term management of the shopping centre.
Modern East is located in Ümraniye, the fourth-largest district of Istanbul and the largest on the Asian side of the city with approximately 700,000 inhabitants. Over the last decade, Ümraniye has seen significant changes due to new office, housing and commercial developments. İstanbul Finance Center, a major project in the city, is also located in the district. In addition, more than 500,000m² of office space in the vicinity of Modern East accommodate approximately 40,000 employees. With the completion of the new housing projects, more than 2,000 apartments will be located within walking distance to the shopping centre. All these new projects will accelerate the population increase and the growth rate in the region to make Ümraniye one of the fastest-growing business and residential districts of Istanbul. More than three million people live in the catchment area of Modern East.
Andreas Hohlmann, general manager, ECE Türkiye: “Modern East is situated in a premium location in Ümraniye and is surrounded by office towers and residential buildings. Ümraniye is a new, up-and-coming business district of Istanbul. The contemporary living standards that come along with these new developments and the correspondingly increasing population in the district provided us a unique opportunity to meet the demand for high-quality retail and to bring together shopping and leisure in one place. The shopping centre will surely benefit from the residential area and office towers around it. The entire complex will be a high-quality shopping, living and working environment for the people in our catchment area”.
