One of Turkey’s major real estate projects, Vadistanbul, is taking its place in the MIPIM Fair this year. In a year in which Turkey is participating in the fair as the country of honor, Vadistanbul is featuring in the fair with its architecture and project specialties.
Vadistanbul, one of the outstanding participants of MIPIM, has an opportunity to be staged in the international arena through the MIPIM fair, which is hosting participants from 90 countries.
Vadistanbul, which is among the biggest and most spectacular projects, is present inside Turkey’s fair pavilion.
The real estate project has attracted intense demand from both domestic and international investors from the day of its launch, and is attracting major attention in the fair.
Several companies operating in the international arena are interested in Vadistanbul’s residential blocks as well as the hotel, office and shopping mall sections of the project.
Many Firsts at Vadistanbul
Vadistanbul was initiated by a joint venture of the Turkish construction sector’s leading firms the Artaş Group, the Aydınlı Group and Keleşoğlu İnşaat, stands out for its architecture, amenities and location. Several of the works within the Vadistanbul project will be the first of their kind in Turkey and will feature several examples for the construction sector.
It has a construction area of 1,100,000 square meters with its terrace apartments, residences, offices, shopping streets, cafes, hotels and malls, as well as entertainment venues.
Vadistanbul, which will rise over a total of three lots, will develop over a total area of 424,000 square meters. It will have three phases. The project contains 3,000 apartments, a shopping mall of 55,000 square meters and a street 700 meters long, where shops covering a total area of 28,000 square meters will be situated. The project will also include an office space of 240,000 square meters, as well as four and five-star hotels covering a total of 48,000 square meters.
First Private Subway
Within this project, Turkey’s first private subway will also pass through Vadistanbul. This subway, built specially for Vadistanbul, will be connected to the city’s overall subway network. Designed at a location intertwined with nature, Vadistanbul possesses a unique feature with the Sadabad Stream running across the project from one end to the other, carrying the crystal clear waters of the Bosphorus. The residential areas to be created alongside the natural stream running across the project will offer unprecedented pleasure, while also adding color and vitality to the region.
Meeting Foreign Investors at MIPIM
Artaş Group Head of the Executive Committee Süleyman Çetinsaya pointed out that this year the MIPIM fair was more significant for Turkey. “Besides participating in the fair as the country of honor, the fact that this is the second international event following the passing of the reciprocity law also increases its importance, with Turkish real estate meeting foreign investors. We are taking part in the fair organized in Cannes with our Vadistanbul project, which is regarded as the largest real estate project of Turkey. Because we are among the biggest large-scale projects participating in the fair, we are subject to intense advance interest. While we have left a successful launch period behind, we see that we have a huge interest from foreign investors. Besides that, there is also a strong demand from foreign firms for the project’s hotel, mall and office spaces. The MIPIM fair is a great opportunity for our country, as we are conveying the details of the reciprocity law to foreign investors.”
$2.5 Billion Income Expected
Vadistanbul, which connects Belgrade Forest to the north of Istanbul with Maslak, often regarded as the city center, has an investment value of 1.5 billion Turkish Liras, excluding the value of the land. The cost of the first stage of the project is 300 million Turkish Liras. The turnover expected from the project is $2.5 million. Key investments have been made in the architecture of the project. It was designed by the award winning Turkish architecture office İki Design and the U.S. firm SOM Architecture.
To learn more about this major real estate project, visit www.vadistanbul.com