The first Designer Outlet in Turkey from Emaar
Istanbul Büyükçekmece is on the agenda once again with a giant property project.
Designer Outlet, which will play host to the select and luxury brands of the world will go into service with the project, which will come to life at a location neighboring Tuscan Valley.
The details of the project, which will be brought to life with the endeavors of Emaar Turkey – a subsidiary of Emaar Properties PJSC – are as follows:
- Luxury Designer Outlet will be built with an investment cost of 125 million dollars.
- In this project, Emaar Turkey is working in partnership with RDM, FINGEN Group and JM Investments, which are the group companies of the Italian FINGEN.
- The designer outlet, which is centrally located in Tuscan Valley, possesses a gross rentable area of 45 thousand square meters, and will be built on a 203 square meter area of land. While the construction of the project will begin in the first quarter of 2015, it is planned that the first phase will be opened in June 2016. The development cost of the project is 125 million dollars.
- Emaar Turkey is also continuing the construction of its Emaar Square project, which includes 1.000 luxury homes as well as the Emaar Square Shopping Center, which is one of the largest shopping centers in Turkey, with 44 thousand square meters of office space and 150 thousand square meters of rentable space.
Who said What?
Ozan Balaban, the Regional CEO of Emaar:
“Our Designer Outlet project displays our determination to provide luxury retail experiences to our people and our nation. Tuscan Valley is now a completely settled project and Designer Outlet, which has been newly planned here, will ensure that both homeowners and visitors will be able to find more choices suited to their lifestyle.” Balaban, who also stated there was an important gap on the subject of the outlets of prestigious brands in Turkey, underlined the fact that the project would fill the gap in this respect, and said, “Turkey is an extremely important country for Emaar. This new investment will once again exhibit our consistency on the matter of investing in Turkey.”
Jacopo Mazzei, the CEO of RDM:
We are very happy that Emaar Turkey is bringing our Designer Outlet, which has achieved great success, to Turkey, by going into partnership with us. Tuscan Valley presents an ideal environment for our objective of providing luxury retailing experiences to discriminating consumers. We see an exceptional potential for growth in Turkey due to the growing economy, the relationships we have established with luxury brands, and the special Italian designs which have made these centers unique.