Rönesans Age to Start in Shopping Center Investments

Rönesans Real Estate Investment, developer of nine shopping centers in seven regions of Turkey, continues its investments at full pace. Soon to celebrate its 15th anniversary in the sector, Rönesans Real Estate Investment is set to launch shopping center projects in Küçükyalı and Maltepe districts of İstanbul; Karşıyaka and Bayraklı districts of İzmir, and Nilüfer district of Bursa over the next three years.

The new shopping centers by Rönesans Real Estate Investment are classified as the 4th generation malls. The 4th generation shopping centers, which become a global trend, are designed with an architectural insight that is suitable for the urban texture with its prominent outdoor spaces, avenues, streets, squares, terraces, etc. as well as the facilities where people enjoy the day. The 4th generation shopping centers constructed with Rönesans Real Estate Investment’s continuous innovative structure appeal to visitors of all ages.

Construction works for the Hilltown project in Küçükyalı continue at full stream. This project, whose rough construction is finished by 80 percent, is designed with a concept of shopping streets as well as abundant outdoor spaces where people will enjoy. Visitors will have a pleasant time in the restaurants and coffeshops facing the scenic view of the Prince’s islands. This project will also feature a five-star, 150-room hotel. Hilltown promises a small city within the city for those seeking escape from the chaos. With a total leasable area of 60,000 square meters, Hilltown is planning to welcome its guests into a different concept in the first quarter of 2017.

Construction works are underway for the project in Maltepe, as well. The total leasable area for this project is announced as 56,000 square meters. The mixed project will include a residential block and an office block. The residential block will be put up for sale on September. The Maltepe project, due 2017, features an outdoor space in the center, where people can have a pleasant time and attend concerts and various activities. Projects with a total leasable area of 63,000 square meters in Karşıyaka and 50,000 square meters in Bayraklı, İzmir, and 60,000 square meters in Bursa run at full speed in the concept and project design phase.

1.5 billion euro to be invested in nine projects

Murat Özgümüş, Deputy Chairman of Rönesans Real Estate Investment, emphasized that they plan to invest over 1.5 billion euros in nine new projects that would be accomplished in the short and medium time span and added: “As Rönesans Real Estate Investment, we have an integrated business understanding. We are delivering turn-key projects. We also manage the estate development, project development, leasing, operation and asset management processes. We have already declared that new shopping centers would provide jobs for nearly 8,000 people once opened. Existing shopping centers have been providing jobs for 20,000 people as well.”

Wind of Change at Optimums

Özgümüş stated that they started to transform the Optimum outlet mall into regular shopping centers: “The transformation initiated with the conversion of Adana Optimum Outlet shopping center to a regular one will continue with İzmir Optimum, one of İzmir’s most popular shopping malls. We will add various new facilities, such as private children’s play areas, new restaurants and coffee shops, and Optimum’s total leasable area will go up from 58,000 to 86,000 square meters. The Optimum transformation project that we plan to complete within 2017, will add 84 new brands to the existing 162 stores.”

The Rönesans Signature on the Black Sea’s Largest Shopping Center

Rönesans Real Estate Investment, which puts an emphasis on investments that add value to Anatolia, has developed Optimum malls in Ankara, İstanbul, Adana, and İzmir; Piazza malls in Samsun, Kahramanmaraş, and Şanlıurfa as well as Kozzy in Istanbul and Sanko Park shopping center in Gaziantep.

Among the Rönesans Real Estate Investment projects; Optimum opened in 2004 as the first outlet shopping center in Ankara, Sankopark inaugurated in 2009 is the first shopping center in Gaziantep, Adana Optimum opened in 2011 is the first and only outlet mall of the city, and Piazza launched in 2013 is the first shopping center in Kahramanmaraş. Samsun Piazza stands out as the largest shopping mall of the Black Sea region. The nine active shopping centers hold a total leasable area of440,000 square meters. Those shopping centers, also managed by Rönesans Real Estate, welcome a total of 97 million visitors annually.

Introducing Sectoral Leaders to Cities

“We keep consumer needs and sectoral forecasts in mind while creating our brand selection. There are currently 1,400 stores in our shopping centers. With Samsun Piazza, brands like Media Markt, 5M Migros, Zara, Bershka, Pull & Bear, Stradivarius, Starbucks, Superstep, Beymen Club, Cookshop, Tommy Hilfiger, H&M, Decathlon, Lacoste, and Yargıcı have been introduced in Samsun; with Kahramanmaraş and Şanlıurfa Piazza leading brands such as Media Markt, 5M Migros, H&M, Cinemaximum, Mango, Deichmann, English Home, Kahve Dünyası have been introduced into these cities,” noted Hasan Şimşek, General Manager of Rönesans Real Estate Investment.

A first in Turkey: the 5,000 square meter children’s playground

Şimşek pointed out that 35 percent of their portfolio is positioned in İzmir as Rönesans Real Estate Investment and they have developed projects in Karşıyaka, Bayraklı, and Turan districts of İzmir, the last of which was developed as a predominantly residential project. Şimşek indicated that the shopping center in Karşıyaka will consist of two floors rising above 82,800 square meters and continued: “We allocated 5,000 square meters to children’s use. The 5,000 square meter children’s playground is Turkey’s first free-of-charge facility for children. This area will feature custom-made toys to deliver positive impacts on children’s physical and mental development.” Şimşek also stated that they have been investing on a shopping center near the metro stop in the Nilüfer district of Bursa and emphasized that they are looking for plots in Antalya, Konya, and İstanbul’s European side.