Denizli Sümerpark

Pera REIT’s current operating and ongoing investments portfolio include commercial, multi-use commercial and residential, and high-end summer residence and hotel development projects.

Pera Reit is made up of a dedicated team of professionals with vast experience in the tourism and real estate sectors. They oversee the existing portfolio while continuously seeking new business development opportunities regardless of size. The experience and ability of the Group allows them to team with local or international strategic partners and to pursue new development opportunities.

Pera REIT is engaged in real estate development with a primary focus on commercial projects. Its current operating and ongoing investments portfolio include commercial, multi-use commercial and residential development projects. The Group holds a long-term view in real estate investments and prioritizes greenfield development over the acquisition of completed projects. A portion of the real estate projects of the Group are primarily managed by Pera REIT, a real estate investment trust trading on Borsa İstanbul.

While being subject to rigorous corporate governance regulations under Turkey's Capital Markets Board, Pera REIT offers an attractive real estate investment option for institutional and individual investors as a listed entity. Like all other real estate investment trusts, the company benefits from certain incentives, including exemption from corporate tax.

The historic Vakıfhan No. 6 building, and the Denizli Sümerpark Shopping Mall and office projects are held solely through Pera REIT.

Vakıf Han No.6

Vakıfhan No. VI is located in Karaköy, Istanbul’s latest up and coming neighbourhood near the Golden Horn. An active business centre for centuries, Karaköy is an important commercial district hosting many new real estate developments. The historic Vakıfhan No. VI building faces Salıpazarı Port, which is Turkey’s second busiest cruise port in terms of passenger arrivals. The Salıpazarı Port project is an extensive urban renewal initiative which, in addition to redeveloping a modern cruise port, includes the provision of tourism and recreation facilities.

Denizli Mixed-Use Project

Denizli is a fast-growing industrial city located in southwest Turkey, the country’s Aegean region. As the area’s second biggest city after Izmir, Denizli features a strong economy and an expanding population of over 1 million (2016). In recent years, it has become a major centre for export and industry. Denizli is a key player in Turkey’s textile manufacturing sector. In addition, Denizli is a significant tourism centre with a rich history and extensive cultural assets. Near the ancient cities of Hierapolis, Laodikeia and Tripolis, and the thermal springs of Pamukkale, Denizli’s own health and spa sector is maturing in line with its growing tourism industry.

The Group’s Denizli project is a mixed-use development on 98,400 m2 of freehold land conveniently located along the Izmir-Denizli highway. Owned solely by the Group, it includes a shopping mall, 608 residential units, a private school, SkyCity offices and a hospital project.

This development is the district’s largest and most popular social centre. The centrepiece of the development, Sümerpark Shopping Mall, has 34,500 m2 of gross leasable area and opened in March 2011. The Mall received 3.6 million visitors in 2017. It is currently occupied by leading brands as anchor tenants – including Migros, Bimeks and Tekzen – with long-term leases up to 25 years. The Mall has a 81% occupancy rate and also houses fashion retailers and food court tenants.

The first phase of the “Sümerpark Evleri” housing project, comprising 231 units in three blocks, started in 2011 and was completed in first quarter 2015. All units have now been delivered to owners.

As part of a mixed-use project, an office complex – SkyCity – has been developed with a construction area of 35,843 m2. Construction of the project started in early 2015. The first phase of the project. comprising 13,500 m2 of gross sellable area and 140 office units, was completed in June 2017. Some 49% of the project has been sold as of end-2017.

The 18th branch of Final Schools is also a tenant of the Sümerpark project. Construction of the school building, with a total construction area of 11,200 m2, was completed in August 2014. The school opened in fall 2014, under a 15 year lease contract signed with Final Schools.

The Denizli development project also includes construction of a hospital on another 10,745 m2 tract located adjacent to Sümerpark Shopping Mall and Sümerpark housing project. The land is currently rented to MedicalPark Hospital Group and awaiting the necessary permits.

 

PORTS

Cruise and commercial port operating activities

INDUSTRIAL

Clean and renewable energy production, compressed natural gas sales and distribution, energy efficiency and mining

REAL ESTATE

Developing and operating commercial real estate projects

FINANCE

Non-banking financial services such as brokerage, advisory and asset management

Rıhtım Cad. No: 51 Karaköy İstanbul      (212) 244 6000      investor@global.com.tr