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PROLOGUE
This study is a joint project of Eva Real Estate Appraisal Consultancy Company and
AKADEMETRE Research Strategic Planning firm, the two professional firms with long
years of experience in the shopping center sector research and is a report supported
by scientific facts.
Requests that are different in scope but that are interrelated were made by shopping
center investors and retailers and therefore the two firms have joint forces and
developed this report that will enable the investors to look ahead and be beneficial
for the sector.
We have therefore decided to share this technical study about the real estate sector,
where there are serious problems in data sharing, with the rest of the sector in a
professional manner.
This report deals with the following questions: Is there an inflation of shopping
centers in Turkey? What figures and area development has the shopping center
sector been following chronologically? Which cities have reached saturation and what
is the current situation in Istanbul? In this study, the parameters that are taken into
account and the reason for their selection and the kind of conclusion we have drawn
with the right approach have been explained.
We have questioned on such matters as how much relevance do we have with the
current conditions in Europe and what the ccrrect comparison approach is.
As a result of this study, the shopping center map of Turkey has been drawn not only
for 2011 but also for 2013 and the regions that are actually suitable for investment
and the provinces where the competition is focused on especially in the present have
been detected. The provinces where there is intensive competition but are revealed
not to have much competition have also been observed. The provinces that currently
lack shopping centers but that will have more of shopping center areas due to the
future developments anticipated for 2013 have also been identified. The study also
has revealed the provinces that may cause anxiety due to excessive numbers of
shopping centers and that will require new areas unless new development is carried
out by 2013.
Our report covers the shopping centers that have gone into operation by April 2011
and that are announced and the detailed content has also been attached.
May 2011
EVA Real Estate Appraisal & Akademetre Research
ANALYSIS of SHOPPING CENTER’S POTENTIAL IN TURKEY (2011-2013)
TABLE OF CONTENTS
PART 1
INFORMATION ON THE REPORT, COMPANIES
1.1 Report Date
1.2 Type of Report
1.3 The Scope of Customer Demands and Restrictions
1.4 Company Information
PART 2
GENERAL, SPECIAL AND SECTOR DATA
2.1 General Data on Turkey, Social and Economic Conditions
2.1.1 Demographic Data
2.1.2 Economic Data
PART 3
SECTOR DATA
3.1. Data on Retail Market
3.1.1 The Development of Retail Market
3.1.1.1 Retailers in Turkey
3.1.1.1.1 New Brands and Growth Expectations
3.1.1.1.2 Developers in the Sector
3.1.1.1.3 Shopping Centers Sold in the Real Estate Market of Turkey
3.1.1.1.4 The Developing Concept Trends in the Retail Sector
3.1.1.1.5 The Dynamics of the Sector in the Perspective the Past and Future 5 Years
PART 4
SHOPPING CENTERS SECTOR
4.1. The Conditions in European Shopping Centers
4.2. The Conditions in Turkey’s Shopping Centers
4.2.1. General Admissions and Assumptions in the Study
4.2.2. Information about the Provinces
4.2.2.1. Existing Shopping Centers, the Shopping Centers under Construction or in Project
Phase, Impact Area Maps and Demographic Data
4.2.2.1.1. The Province of Istanbul
4.2.2.1.2. The Province of Ankara
4.2.2.1.3. The Province of Izmir
4.2.2.1.4. The Province of Adana
4.2.2.1.5. The Province of Adıyaman
4.2.2.1.6. The Province of Afyon
4.2.2.1.7. The Province of Ağrı
4.2.2.1.8. The Province of Aksaray
4.2.2.1.9. The Province of Amasya
4.2.2.1.10. The Province of Antalya
4.2.2.1.11. The Province of Ardahan
4.2.2.1.12. The Province of Artvin
4.2.2.1.13. The Province of Aydın
4.2.2.1.14. The Province of Balıkesir
4.2.2.1.15. The Province of Bartın
4.2.2.1.16. The Province of Batman
4.2.2.1.17. The Province of Bayburt
4.2.2.1.18. The Province of Bilecik
4.2.2.1.19. The Province of Bingöl
4.2.2.1.20. The Province of Bitlis
4.2.2.1.21. The Province of Bolu
4.2.2.1.22. The Province of Burdur
4.2.2.1.23. The Province of Bursa
4.2.2.1.24. The Province of Çanakkale
4.2.2.1.25. The Province of Çankırı
4.2.2.1.26. The Province of Çorum
4.2.2.1.27. The Province of Denizli
4.2.2.1.28. The Province of Diyarbakır
4.2.2.1.29. The Province of Düzce
4.2.2.1.30. The Province of Edirne
4.2.2.1.31. The Province of Elazığ
4.2.2.1.32. The Province of Erzincan
4.2.2.1.33. The Province of Erzurum
4.2.2.1.34. The Province of Eskişehir
4.2.2.1.35. The Province of Gaziantep
4.2.2.1.36. The Province of Giresun
4.2.2.1.37. The Province of Gümüşhane
4.2.2.1.38. The Province of Hakkari
4.2.2.1.39. The Province of Hatay
4.2.2.1.40. The Province of Iğdır
4.2.2.1.41. The Province of Isparta
4.2.2.1.42. The Province of Kahramanmaraş
4.2.2.1.43. The Province of Karabük
4.2.2.1.44. The Province of Karaman
4.2.2.1.45. The Province of Kars
4.2.2.1.46. The Province of Kastamonu
4.2.2.1.47. The Province of Kayseri
4.2.2.1.48. The Province of Kırıkkale
4.2.2.1.49. The Province of Kırklareli
4.2.2.1.50. The Province of Kırşehir
4.2.2.1.51. The Province of Kilis
4.2.2.1.52. The Province of Kocaeli
4.2.2.1.53. The Province of Konya
4.2.2.1.54. The Province of Kütahya
4.2.2.1.55. The Province of Malatya
4.2.2.1.56. The Province of Manisa
4.2.2.1.57. The Province of Mardin
4.2.2.1.58. The Province of Mersin
4.2.2.1.59. The Province of Muğla
4.2.2.1.60. The Province of Muş
4.2.2.1.61. The Province of Nevşehir
4.2.2.1.62. The Province of Niğde
4.2.2.1.63. The Province of Ordu
4.2.2.1.64. The Province of Osmaniye
4.2.2.1.65. The Province of Rize
4.2.2.1.67. The Province of Samsun
4.2.2.1.68. The Province of Siirt
4.2.2.1.69. The Province of Sinop
4.2.2.1.70. The Province of Sivas
4.2.2.1.71. The Province of Şanlıurfa
4.2.2.1.72. The Province of Şırnak
4.2.2.1.73. The Province of Tekirdağ
4.2.2.1.74. The Province of Tokat
4.2.2.1.75. The Province of Trabzon
4.2.2.1.76. The Province of Tunceli
4.2.2.1.77. The Province of Uşak
4.2.2.1.78. The Province of Van
4.2.2.1.79. The Province of Yalova
4.2.2.1.80. The Province of Yozgat
4.2.2.1.81. The Province of Zonguldak
4.2.2.2. Statistics (Population, Leasable Areas, Expenditure Parities)
PART 5
METHODOLOGY
5.1 Turkey’s Outlook: The Detection of the Provinces in Need of Shopping Centers and the
Square Meter Values of the Needed Shopping Centers
5.1.1 Calculations are made for Turkey
5.1.2 Calculations are made for İstanbul
PART 6
TURKEY, CONCLUSION AND EVALUTION
6.1 Status of 2011
6.1.1 The Provinces in Need and the Square Meter Values Needed
6.1.2 Provinces of Saturation
6.2 Status of 2013
6.2.1 The Provinces in Need and the Square Meter Values Needed
6.2.2 Provinces of Saturation
6.3 The Square Meter Values Needed at provincial in 2011 & 2013
6.4 the list of provinces needed square meter values under 5.000 m²
PART 7
İSTANBUL, CONCLUSION AND EVALUTION
7.1 Status of 2011
7.1.1 The Provinces in Need and the Square Meter Values Needed
7.1.2 Districts of Saturation
7.2 Status of 2013
7.2.1 The Provinces in Need and the Square Meter Values Needed
7.2.2 Districts of Saturation
7.3 status after projects developed in 2011 & 2013
PART 8
CLOSURE
ATTACHMENTS
Excerpts from the Report – Sample: The Province of Bursa
Its population according to the “Address Based Population Registration System” for 2010 is
2.605.495.
There are currently 11 existing shopping centers in Bursa and 1 underconstruction.
Accordingly, in the existing shopping centers, the total leasable area is 262.751 sqm and the
leasable area per 1.000 people is 99 sqm. The leasable area per 1.000 people is higher than
Turkey average.
The existing shopping centers in Bursa;
No
Mevcut Alışveriş Merkezi
1 Metro Cash and Carry Alışveriş Merkezi
2 Özdilek Alışveriş Merkezi*
3 Zafer Plaza Alışveriş Merkezi
4 As Merkez Alışveriş Merkezi
5 Metro Cash and Carry Alışveriş Merkezi
6 Meridyen Alışveriş Merkezi
7 Carreefour Bursa Alışveriş Merkezi
8 Magazin Outlet Alışveriş Merkezi
9 Korupark Alışveriş Merkezi
10 Özdilek Geçit Alışveriş Merkezi*
11 Kent Meydanı Alışveriş Merkezi
12 Nilpark Alışveriş Merkezi ve Ofis
13 Anatolıum Alışveriş Merkezi
TOPLAM
*Tahmini kiralanabilir alandır
Konumu
Açılış
Yılı
1993
1983
1999
2000
2000
2000
2001
2006
2007
2007
2008
2008
2010
İli
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
Bursa
İlçe
Nilüfer
Çiftlikköy
Osmangazi
Osmangazi
Osmangazi
Nilüfer
Nilüfer
Emek
Mudanya
Osmangazi
Nilüfer
Osmangazi
Kat
Sayısı
Yatırımcı Firma
Metro Group Assement Management, Emlak Yönetim A.Ş.
Özdilek Alışveriş Merkezleri ve Tekstil San. A.Ş.
Toray İşaat
Sönmez Gıda Turizm ve Ticaret A.Ş.
Metro Group Assement Management, Emlak Yönetim A.Ş.
Bukotaş Sanayi ve Ticaret A.Ş.
Bainbridge Gayrimenkul Yatırımı Geliştirme ve İşletmecilik A.Ş.
Bursa Gazeteciler Cemiyeti
Torunlar Şirketler Grubu
Özdilek Alışveriş Merkezleri ve Tekstil San. A.Ş.
Küçük Çalık İnşaat A.Ş, Sönmez Turizm Emlak A.Ş., Özipek İnşaat A.Ş
Reka Gayrimenkul Geliştirme Yatırım A.Ş.
Maya Grup
N/A
4
5
5
1
8
2
6
3
1
6
2
2
Arsa
Alanı
(m2)
Kapalı
Alanı
(m2)
N/A
N/A
9.500
66.000
58.180
5.259
100.000
25.000
124.449
N/A
14.761
19.000
174.585
596.734
N/A
12.000
56.100
46.228
26.640
3.690
50.729
24.000
169.000
12.000
71.000
38.000
84.000
593.387
Kiralan
abilir Mağaza
Market
Alan Sayısı
(m²)
9.600 N/A
N/A
10.200 120
20.700 120
Migros
23.127
77
Tansaş
20.440
30
Metro
3.200
40
Bim
33.189 106 CarrefourSA
14.444
58 (9.041
Şaypam2),
74.580 196
9.000 N/A
25.511 103 CarrefourSA
12.000
45
40.000 165 CarrefourSA
295.991
Restoran-CafeFast food
Anchor Mağaza
N/A
YKM, Boyner, Mango, Polo Garage, Koton, Starbuck’s
Tekzen Yapı Marketi, Tepe Home , Mudo City, Teknolojix
Real, Kuz Optik, Kozmetik Dünyası, Opendoor Kapı, Aslı Börek, Sultanahmet Köftecisi
Kapalı Pazar Alanı
Toys “R” Us , Yataş , Peacocks , Flo , Koton , Vermoda
Network, Deppo, Beymen
Tesco Kipa, Koçtaş, Zara, Boyner, Beymen, Vakko, Mudo, Electro World
Zara , İpekyol, Sarar, Mavi jeans , Teknosa ,Colins ,Fabrika
Media Markt, MOL, İntersport
Ikea , Carrefour , Best-Buy , Yapı market Leory Merlin , Zara ,İpekyol
Adet
N/A
N/A
18
14
5
2
5
9
26
N/A
19
15
28
2
M
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Otopark
Kapasitesi
Açık
N/A
N/A
2.000
980
30
916
500
250
N/A
20
75
350
Kapalı
N/A
N/A
625
300
200
1.275
150
1.820
N/A
803
425
1.950
Otopark
Eğlence Üniteleri
Bilgisi
N/A
N/A
Ücretli
Ücretsiz
Ücretsiz
Ücretli
Ücretsiz
Ücretsiz
Ücretsiz
N/A
Ücretsiz
Ücretsiz
Ücretsiz
N/A
N/A
4 Tane Sinema Salonu, Çocuk Oyun Alanı
4 Tane Sinema Salonu, Bowling, Çocuk Oyun Alanı
Çocuk Oyun Alanı
6 Tane Sinema Salonu, Bowling, Çocuk Oyun Alanıs
2 Tane Sinema Salonu, Çocuk Oyun Alanı
9 Tane Sinema Salonu, Çocuk Oyun Alanı
N/A
6 Tane Sinema Salonu, Çocuk Oyun Alanı
Çocuk Oyun Alanı
Bowling, Buz Pateni, Çocuk Oyun Alanı
Considering the shopping centers under construction and in project phase in the province, it
is anticipated that as of 2013, 8.000 sqm will be added on the existing leasable area.
The shopping centers under construction or in project phase;
No
1
TOPLAM
İnşaat ve Proje Halindeki Alışveriş Merkezleri
Altınceylan Alışveriş Merkezi
Konum
İli
Bursa
İlçe
Görükle
Yatırımcı Firma
Altınceylan
Arsa Alanı Kapalı Alan
N/A
N/A
Kiralanabilir
Alan
8.000
8.000
The Shopping Center Density Map of Bursa;
*The diameters of 5, 10 and 15 km have been based on according to the leasable area for the impact area.
Açılış Tarihi
2013
*It is the estimated location for Altın Ceylan shopping center; according to the information received from
the investing firm, it is located in proximity with the Campus of Uludağ University.
About EVA Real Estate Appraisal Consultancy Company
Founded in 2008 by Cansel Turgut Yazıcı, the company has 3 licenses in its area and is included
in the list of Licensed Appraisal Companies of the Capital Market Board (SPK). With
authorization for providing appraisal services for banks, EVA is the first company to have
received regulated by RICS Certificate (Royal Institution of Chartered Surveyors) The subjects of
the company include Appraisal Studies on All Types of Real Estates, Research Reports about
Real Estate Market , Appraisal Studies for the Real Estate Based Rights and Benefits, Machinery
Park Appraisal Studies, Feasibility Studies and Location Analyzes, Highest and Best use Studies,
Preparation of Construction Monitoring Reports for Financial Institutions.
Contact: 00 90 216 361 57 57 / [email protected]
www.evagyd.com
About Akademetre Research:
Turkey’s biggest domestic capital research company, Akademetre was founded in 2000, by Dr.
Halil İbrahim Zeytin. Having achieved numerous research studies in a variety of areas from
FMCG to information technologies, from shopping centers to insurance, Akademetre is the
holder of Reliable Research Certificate (GAB) and the GAB 2 certificate, which is awarded to
companies with high research standard. Akademetre is among the top 10 companies in Turkey
with its staff of 115 people and its market share of 3%.
Contact: 00 90 212 276 90 00 / [email protected]
EVA Gayrimenkul Değerlendirme Danışmanlık Hakkında:
www.akademetre.com