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August 20, 2013

Symbol Kocaeli | The First Blended Project of Kocaeli

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The ground breaking ceremony for Symbol Kocaeli, the first and only combined project in Kocaeli, was held by Odeabank and Kavanlar, the strong name of the construction sector.

Symbol Kocaeli, which is to be built as a multiple structure, will bring together a shopping center with a large number of stores and restaurants as well as a hotel, hospital and the first conference center in the province, under one roof.

Symbol Kocaeli project interiorThe Medical Park Group will take its place in Symbol Kocaeli with the Medical Park Kocaeli Hospital while Hilton will be present with its Worldwide Hampton by Hilton brand.

The architectural concept, leasing and management of Symbol Kocaeli is being undertaken by Turkmall, one of the most successful companies in Turkey in the area of property development and investment, while the architectural projects are being undertaken by Nova Sultani, the creator of many other shopping centers and complexes.

The giant conference center will be managed by way of a “solution partnership” with international companies who specialize in this area. The aim of the Symbol Kocaeli project is to make significant contributions to the business world, commerce, employment, culture, arts and tourism of the city.

The total cost of the mixed project, for which Odeabank has provided 105 million USD in financing, is expected to reach 200 million USD.

The target for completing Symbol Kocaeli is the 2nd quarter of 2015

Odeabank logo“The Odeabank difference will be felt in the financing of the project”

Hüseyin Özkaya, the Managing Director of Odeabank, Erol Saksallıoğlu, the Assistant Managing Director of Odeabank, Cengiz Kavan, the CEO of Kavanlar Construction, Levent Eyüboğlu, the Vice-President of the Board of Directors of Turkmall, Semih Dinç, the Managing Director of the Medical Park Hospitals Group, Pogda Demircan, the Hilton Worldwide Development Director for Turkey, and Mehmet Metin Gürler, the Managing director of Ever Group took part in the press conference aimed at promoting the project.

Hüseyin Özkaya, the Managing Director of Odeabank, who spoke at the meeting, said, “Symbol Kocaeli is proof that, like in every other part of banking, we will take large steps also in project financing, and that we have raised the bar. Odeabank has become the symbol of the increased trust in Turkish banking, with the first commercial license received in the sector in 5 years and the successful profile it is displaying.

Özkaya used the following statement concerning the employment which Symbol Kocaeli project would create in Kocaeli and the surrounding areas: “Kocaeli is one of the vital points of the Marmara Region, and we are extremely happy to play an important role in the establishment of a modern project. The only blended project in the region will contribute greatly to Kocaeli in the socio-economic sense with the many different areas it is involved in. With a target of 2,600 new jobs in Kocaeli, we believe that it will have a very positive impact on the region. Our property project, which will be completed with a total of 200 million USD in investment, will enrich the modern portrait of Kocaeli even more.”

Cengiz Kavan, the CEO of Kavanlar Construction, spoke as follows about the project:

Kavanlar construction logoKocaeli produces 18% of the national product of Turkey on its own; it is the 2nd largest city in Turkey in terms of the density of population. As Kavanlar Construction, we have been involved in the sector for 40 years in Kocaeli, and we are extremely happy and proud to be involved in a property project which will change the face of this city.

The Symbol Kocaeli project is comprised of a total construction area of 185,000 square meters, and 62,000 square meters will be the shopping center which will be managed by Turkmall on our behalf, the Medical Park Kocaeli Hospital will take up 43,000 square meters, the Hampton by Hilton Hotel 12,000 square meters, and the 1650 capacity conference center, consisting of 3 halls, 5,000 square meters. The complex will also contain a 1,750 vehicle indoor car park. We will complete our project using the latest technologies used by the construction sector. We are very impatient to complete this project which will contribute greatly to Kocaeli in the socio-economic respect.”

Symbol Kocaeli project launchLevent Eyüboğlu, the Chairman of the Board of Directors of Turkmall, who also spoke on the subject, said, “Kocaeli is right next door to Istanbul, the city with the biggest commercial potential in Turkey, and it also possesses an extremely large economic potential. It will host another important project with Symbol Kocaeli to play an important role in the development of Kocaeli, which is the heart of Turkish industry. I believe that the project will not only play a role in the enrichment of the social life of Kocaeli but also of surrounding cities such as Sakarya, Yalova, Düzce and Bolu. As Turkmall, we have undertaken the architectural concept, leasing and management of the project, and we are extremely happy to be involved in a project with a company as strong as Kavanlar. With the Medical Park Group and Hampton by Hilton brand the Ever Group will add great value to Symbol Kocaeli. What’s more, the trust shown by Odeabank in the project has honored us.”

About Symbol Kocaeli

Total value of the project: 200 million USD

Total Construction Area: 185 000 m2

Hospital (Medical Park): 43 000 m2

Shopping Center (Leasable area): 62 000 m2

Hotel (Hampton by Hilton): 12 000 m2

Conference Center: 5 000 m2

Indoor Car Park: 1 750 vehicles

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