New focal point of attraction for the Aegean Region and Izmir
Today, Forum Bornova in Izmir opens its doors offering 45,000 mē of shops, restaurants, leisure and cultural facilities that will bring a new shopping and entertainment concept to Turkey. Forum Bornova is Multi Turkmall’s first shopping centre development to open in Turkey. Ownership is a joint venture between Commerz Grundbesitz-Investmentgesellschaft mbH and Multi Turkmall.
The project
Situated next to the Ege University in the northeastern part of Izmir city, Forum Bornova opens with all of its 130 shops fully let, including national and international brands; some of which are entering the Izmir market for the first time such as; Douglas, Friis & Company, EP Center, Zara Home, Oysho, Stradivarius, Pull&Bear, Bershka, Massimo Dutti, Next, Tike and Conbipel. Forum Bornova is anchored by IKEA (2nd store in Turkey which opened its doors already in April 2006 (22,400 mē), Tesco Kipa hypermarket (13,000 mē) and a 7-screen cinema (with 1,100 seats).
Forum Bornova includes 17 food outlets with a shared seating area (900 seats), roof garden terraces and 3000 open area parking spaces.
A great contribution to the city and the Aegean Region
Forum Bornova, with an investment value of approximately 120 million Euros, is a distinctive project in the Turkish retail market through its location and magnitude.
The location, next to Ege University and the new highway, provides excellent visibility and accessibility bringing large parts of the city within the prime catchment area. The project will create 1,500 direct jobs and 3,000 indirect jobs.
A brand new concept
Forum Bornova’s concept was developed by T+T Design (Masterplan), Gouda the Netherlands and the architects are T+T Design and ERA of Istanbul. The centre, including 2 boulevards, 2 piazzas and 4 streets, reflects a touch of Aegean and Mediterranean architecture. With its wooden canopies, small ponds, bridges, tower, mosaics, wooden pergolas, palm trees, fountains, roof garden food court; Forum Bornova creates an atmosphere where people can relax, enjoy and shop at the same time; enhancing the social life of Izmir people.
It is expected that Forum Bornova will attract more than 10 million visitors each year.
For further information: www.forumbornova.com
Profile of Multi Turkmall
Multi Turkmall is a joint venture between Multi Development and Turkmall. Multi Turkmall develops inner city projects, shopping malls and real estate projects based on European standards and ensures that local culture and environment is reflected within the designs. Multi Turkmall has firmly established its prominent position in the Turkish commercial real estate market with its extensive project portfolio including ‘Forum’ shopping malls in Izmir, Ankara, Mersin, Trabzon, Istanbul, Antalya, Denizli and other cities.
Profile Multi Corporation
Multi Corporation comprises a group of companies carrying out various disciplines throughout Europe in property development (Multi Development), investment (Multi Investment), asset management (Multi Asset Management) and mall management (Multi Mall Management). With a Morgan Stanley Real Estate Fund as its new financial partner, Multi has strengthened its position to become an investing developer and move forward on its path to further growth. Multi’s strategy is and remains focused on developing projects in European countries where significant growth is expected
Across Europe, Multi’s inner-city projects, shopping centres and business parks appeal to peoples’ imagination. The ‘Design & Development’ formula strongly focuses on design quality and Multi has its own design group - T+T Design - for urban development and architectural concepts. Multi’s projects are internationally recognized for their original and innovative nature, quality of architectural character and profound sensitivity to the blending of urban design. Our developments regularly act as the engine for regenerating a city or region. By respecting local culture and style we develop projects with which people can easily identify.
Multi Development’s activities in 18 countries in Europe are conducted from offices in the Netherlands (head-office), Belgium, United Kingdom, France, Germany, Czech Republic, Poland, Spain, Portugal, Italy, Greece and Turkey.
Profile of Commerz Grundbesitz-Investmentgesellschaft mbH
Forum Bornova is a joint venture between Multi Turkmall and Commerz Grundbesitz-Investmentgesellschaft (CGI) which is a part of Commerz Grundbesitz Group. CGI invested in the development on behalf of the German Open-Ended Property Fund hausInvest global.
Commerz Grundbesitz Group (CGG) was founded in 2001, and counts among the global leaders in real estate asset management. With its staff of 250 employees, the Group currently manages a real estate volume of more than Euro 13 billion worldwide. At present, real estate assets include about 200 commercial properties in 14 different countries, and at more than 50 different locations. Its foreign real estate assets, valued at more than Euro 9 billion, make Commerz Grundbesitz Group one of Europe’s largest real estate investors. The total rental space held by the Group’s fund real estate covers more than 3.5 million mē.
Commerz Grundbesitz-Investmentgesellschaft mbH (CGI) is a capital investment company and a part of Commerz Grundbesitz Group. CGI is managing the Group’s mutual real estate funds, particularly for private investors.
The market share of CGI in the overall volume of mutual real estate funds currently equals more than 12%. So far, around 450,000 investors have invested in CGI funds.
In March of 2004, CGI started hausInvest global, a fund with investments worldwide and a fund volume already worth more than Euro 1.1 billion.
Targeted investment areas include North America with an intended portfolio share of 50%, Europe with 30%, and Asia/Pacific with 20%.
Beside this fund CGI is managing hausInvest europa which represents the German market leader in the sector of Open-Ended Property Funds, having a fund volume of more than Euro 8.1 billion.