ECE adds to Turkish mall portfolio

German retail specialist ECE has taken over the management of two further shopping centres in Turkey, MaviBahçe in Izmir and Aqua Florya in Istanbul.

MaviBahçe, which is currently under construction, will provide 60,000 m2 of leasable area on completion in October 2015. Representing an investment of €180 mln, the asset is owned by Turkish company Opera Gayrimenkul.

The centre houses over 200 retailers, a department store, a consumer electronics store, 47 cafés and restaurants, a traditional market place and an 11-screen IMAX cinema. There are also 2,000 parking spaces.

Aqua Florya in Istanbul, which opened in November 2012, comprises 140 shops, a number of cafés and restaurants, an amphitheater with 900 seats and a cinema.

ECE will be responsible for the leasing and management of the shopping centre, which represents an investment of €130 mln. The investors are a consortium of the Turkish construction companies, Nuhoglu Insaat, Metal Yapi Konut, Alt ve Ust Yapi Insaat, and Nas Insaat.