Among the 1,400 residences built by the Saf Real Estate Investment Trust (Saf GYO) as part of the Akasya Acıbadem project, 1,350 have been sold, while 300 stores in the project’s shopping mall have begun to be rented. Built with $600 million of investment, the Akasya project reached the finals in the ‘Best Residential Development’ category of the MIPIM awards.
Founded through a partnership of leading Turkish firms Akkök, Yıldız Holding, Sinpaş GYO and Doğu-Batı Group, Saf GYO built 1,400 residences as part of the Akasya project in Istanbul’s Acıbadem district. Some 1,350 of these 1,400 residences have already been sold, while 300 stores in the project’s shopping mall have begun to be rented. Built with $600 million dollars in investment, those who bought residences from the Akasya project two years ago have made a triple profit, as the prices per square meter of land have increased from 3,500-4,000 Turkish Liras to 10,000 liras in this time.
When these figures are considered, Akasya can be regarded as the most profitable project in Istanbul.
Akasya Acıbadem to Have Three Sections
The construction of Akasya Acıbadem started in 2009. The project consists of three sections: Göl (Lake), Koru (Grove), and Kent (City). A total of 896 residences in Göl and Koru were opened to housing in 2012. A 26,000 square meter park, namely Central Park, is located in the center of the project, which has a splendid landscape. In the Kent section, which will host the most prestigious shopping mall on the Asian side of Istanbul, there is a 40-storey residence 180 meters high and a 16-storey horizontal block, which has gardens in all its stores. Along with the apartments available to be used as home-offices on the tower of the Kent section, there are 24 penthouse suites of different specifications. All of them have a view of the Bosphorus and the sea. Also, residences of varying widths are offered in the 16-storey block.
Penthouse Suites on Sale
The Akasya Acıbadem project was set on 182,000 square meters of land. While two sections have already opened to housing, the third section, Kent, will begin serving in late 2013. Kent is composed of 456 units and includes 199 terraced residences, 198 home offices, 35 trade offices and 24 penthouse suites, with an enormous and iconic effect. The Akasya project is also a candidate for a Brem certificate, as it used grey waters in pools and garden water features, reused rainwater, designed gardens on each storey, and created energy efficiency with its automatic lighting system.
Shopping Mall at Akasya Acıbadem
Also, the units within Akasya Acıbadem’s shopping mall, which will have 300 stores on 80,000 square meters of rentable land, have already begun to be rented. Arrangements have been settled on in above 70 percent of the shopping mall, and the monthly prices per square meter were determined to be between $50 and $150. The shopping mall will also host a number of brands that are set to have a store in Turkey for the first time. KidZania, an education and entertainment center for children, will open its first branch in Turkey in the mall.
The Most Successful Residential Project in Europe
Developed by a team of 15 people under the leadership of Mehpare and Alp Evrenol over five years, Akasya Acıbadem received a five star rating in the category of “Best High-Rise Architecture” and was selected as “The Most Successful Residential Project in Europe” in “The European Property Awards 2012,” one of the most prestigious real estate awards in Europe. Akasya Acıbadem has also reached the finals in the “Best Residential Development” category in the 23rd MIPIM Awards this year. The results will be announced on March 14.
Finalists to Set up Stand
SAF GYO Chairwoman Zeynep Akdilli Oral said MIPIM was an outstanding and prestigious fair, which gathered the developers and investors of the real estate sector together. “MIPIM’s recognition of Turkey as a ‘Country of Honor’ shows that the Turkish real estate sector is increasingly presenting more appealing opportunities for investors.”
Oral also underlined the importance of the conferences organized in Turkish pavilion for international participants. “The conferences, which are believed to create an ideal atmosphere for the presentation of our country to global business world, will handle the legal and financial picture of Turkey’s investment and real estate sectors for international investors. They will also emphasize the growth potential of Turkey’s real estate market. By answering the question, ‘Why invest in Turkey?’ we will inform and encourage thousands of foreign investors who will take part in MIPIM, which is a fair that has an atmosphere open to innovations.
“In the MIPIM awards, we have reached the finals in the category of “Best Residential Development” with the Akasya Acıbadem project, and we are very proud of this. Being the only Turkish project in this category and taking part in the same list with the leading figures of this sector also dignifies us,” Oral said.
To learn more about Akasya Acıbadem project, visit www.ak-asya.com