Bilfinger Real Estate has won a contract from real estate developer and investor Kiler REIC to manage two shopping centres in Turkey.
Bilfinger Real Estate has won a contract from real estate developer and investor Kiler REIC to manage two shopping centres in Turkey.
The centres are the Sapphire in Istanbul, which at 261 metres is the tallest building in Turkey, and the Westa Mall on the Black Sea coast.
The Sapphire shopping and residential complex comprises 61,500 m2 over 66 floors. The Westa Mall is due to be completed in April 2016.
Including the new management contracts, Bilfinger Real Estate now manages a retail area of over one million m2 in Turkey, divided between 12 retail, office and residential complexes in almost every region of the country.
Earlier, Bilfinger said it had won a contract to manage 13 German retail properties from the portfolios of two open alternative investment funds from TH Real Estate.
Bilfinger will provide rental and property management services for the assets. The properties are in the states of Lower Saxony, Berlin, North Rhine-Westphalia, Hesse, Baden-Württemberg and Bavaria and have a total rental space of approximately 130,000 m2.
Across Europe, Bilfinger manages 85 shopping centres, retail centres and retail properties with a total area of three million m2 on behalf of fund managers, investors and developers.
