Forum Trabzon’s waterfront Shopping Centre will offer a new of way of shopping and leisure to the Black Sea region
Today ground was broken for the start of construction of Forum Trabzon, a major mixed use shopping scheme in the north-eastern Turkish city of Trabzon. The 45.000 sqm scheme will be anchored by a hypermarket, multi-screen cinema and a large number of fashion stores, a department store, an electronic store and a sports store that will jointly act as co-anchors. The initial level of interest for the scheme from the national and international retail community is very encouraging.
The official ceremony was attended by the Minister of Public Works and Settlement Mr. Faruk Nafız Özak, the Mayor of Trabzon Mehmet Volkan Canalıoğlu and the Governor of Trabzon Hüseyin Yavuz Demir. Multi Turkmall was represented by Mr. Hans Otto Nagel, Chairman, Mr. Nico Veldhuis, Vice President, and Levent Eyüboğlu, Managing Director. Co-investor Meinl was represented by Wolfgang Lunardon, Board Member. The shopping mall will be completed and inaugurated in the beginning of 2008.
Forum Trabzon is the fifth shopping and leisure centre under construction from Multi Turkmall.
Investor Meinl fully funds the development of the scheme. Multi Turkmall Management will take care of the management and commercialisation of the centre after completion, based on Multi’s vast experience in managing centres in countries like Portugal, Spain and the Czech Republic. Multi Asset Management will be responsible for the strategic value enhancement of the scheme in close cooperation with Meinl. At completion of the scheme Multi has the right to participate in the investment.
A flexible project that offers more to the community
Stating that Trabzon is an important trade centre and it has dense air traffic, Multi Turkmall’s Managing Director Levent Eyüboğlu said that the project will make a great contribution to the development of the city. He continued; “The nearby university campus will supply an important source of visitors to the centre. The main connection road, especially the new highway, guarantees a perfect accessibility.”
Chairman of Multi Turkmall Mr. Hans Otto Nagel gave a speech at the groundbreaking ceremony and said that Forum Trabzon would offer public area flexible enough to meet the requirements of various activities such as festivals, concerts, markets and sports activities. Mr. Nagel mentioned that the project would attract many visitors and clients from Trabzon and all surrounding areas by its eye catching facades and lighthouse landmark and he added: “Developed as a regional shopping centre Forum Trabzon is designed not only to meet the current consumer demands, but also to meet the expected demands in the future.”
Forum Trabzon
The city of Trabzon, with an estimated province population of 1 million people, is situated on the coast of the Black Sea. Trabzon has the main port as well as the busiest airport of the Northeast region, which gives the city, major development opportunities. The presence of the Black Sea Technical University is an extra asset.
Forum Trabzon is located at the waterfront, and is close to the city, the airport, and the university campus and has excellent accessibility and visibility from the surrounding main roads.
Forum Trabzon is a regional shopping mall offering approximately 45,000 sqm. of retail and leisure on 3 floors, and 2000 parking spaces. With anchors like a hypermarket, department stores and a multi screen cinema, Forum Trabzon will attract visitors from all over the city, nearby towns and the Trabzon province. Unique for the region it will add a
new dimension to the existing retail market.
Forum Trabzon offers a shopping experience through inner courts and gallerias. A public square is suitable for festivities, markets and special events. With its attractive multi-coloured and multi-dimensional facades and a lighthouse overseeing the Black Sea the shopping centre will become a landmark and regional destination in the Trabzon province.
Architects are T+T Design, Gouda, The Netherlands (masterplan), CPU, Lisbon, Portugal and ARUP, İstanbul, Turkey.
Profile MEINL European Land Limited
Meinl European Land is a real estate holding and development company headquartered in Jersey/Channel Islands. Since November 2002 Meinl European Land has been listed on the Vienna Stock Exchange. Based on the current share price of EUR 17.01 the total market capitalisation amounts to more than EUR 3 billion.
Meinl European Land has operations in 9 Eastern European countries: the Czech Republic, Hungary, Slovakia, Poland, Romania, Latvia, Russia, Turkey and the Ukraine.
Meinl European Land’s portfolio today - including committed development projects - comprises retail properties with an estimated value of EUR 2.6 billion and a total lettable area of more than 1,400,000 sqm. The properties are leased by well-known European retail companies on long-term rental contracts and generate on average across the portfolio a yield of more than 9%, in individual cases the yield exceeds even 14%.
Meinl European Land is one of the most active and fastest expanding retail property companies in this part of the word.
Profile Multi Turkmall
Multi Turkmall based in Istanbul, Turkey, is a joint venture between Multi Development and Turkmall and a subsidiary of Multi Corporation. Multi Turkmall, Turkey’s and South Eastern Europe’ s leading developer, has firmly established its prominent position on the Turkish commercial real estate market with its extensive portfolio of projects under construction and in progress, including large retail and leisure schemes in Izmir, Ankara, Mersin, Trabzon, Istanbul, Denizli, Antalya and other cities.
Profile Multi Corporation
Multi Corporation comprises a group of companies carrying out various disciplines throughout Europe in property development, investment, asset management and 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 Corporation is active in 18 European countries with branches in 12 cities.