Multi, Union open Forum Kayseri in Turkey

European retail property developer Multi Development and German investor Union Investment opened Forum Kayseri shopping centre in the Anatolian region of Turkey on Wednesday. The scheme represents an investment value of EUR 250 mln.

Forum Kayseri hosts over 200 national and international shops.The centre, designed and developed by Multi Development Turkey, comprises 65,000 m² gross leasable area and 2,000 parking spaces and opened nearly fully let. The shopping centre was built on the site of the former football stadium in Kayseri.

Hulusi Belgü, CEO of Multi Development Turkey, said Multi Development Turkey is the leader of the Turkish mall investment sector under the 'Forum' shopping centers brand since 2004. He added, 'We are proud to bring Forum Kayseri to the people of Kayseri as our 10th Forum Mall.'

Forum Kayseri marks Union's second shopping center investment in Turkey. 'This investment underlines the strategy we have implemented successfully in other countries, focusing on the creation of core products with a dominant market position in mid-size centres,' added Frank Billand, member of the management board of Union Investment Real Estate. The centre is held in the portfolio of the UniImmo: Europa fund.