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Bilfinger Real Estate wins Management Contract for "Metropol Istanbul"

FRANKFURT/GERMANY, October 11, 2013 - As of October 1, 2013, Bilfinger Real Estate has taken over the management of the retail space for Turkey’s major "Metropol Istanbul" project. As part of the EUR 960 million construction project, several residential and office towers, a three-story shopping mall with a 400-meter-long shopping street for international luxury brands, an entertainment area including a cinema complex, restaurants and cafés as well as a parking garage with 3,000 parking spaces are to be built by the end of 2016 on a site measuring 10 hectares in Istanbul's Ataşehir district.

"Metropol Istnabul" at night

960 million Euros construction project: Turkey's "Metropol Istanbul" in its beauty. | photo: Bilfinger Real Estate GmbH

For all of the 350 retail units and 120,000 square meters of leasable retail space at "Metropol Istanbul," Bilfinger Real Estate will be responsible for developing the concept, including comprehensive environment and market analysis, leasing, as well as center and property management. The contract for coordinating the facility management services to be provided for the retail space has been awarded to Bilfinger HSG Facility Management, a sister company of Bilfinger Real Estate. The main contractor of the project, located in close proximity to Istanbul's finance center, which is also under construction, is Varyap & GAP iNSAAT, a joint venture of two Turkish groups, Varyap and Çalık, which specialize in premium developments.
Aydin Karaduman, Chairman and Managing Director of Bilfinger Real Estate: "Winning this contract is particularly encouraging for our group of companies. We will be the central point of contact for a whole bundle of services and are closely involved in the project already during the planning and design phase. In view of the increasing internationalization of our business activities, the engagement thus also confirms the business strategy of Bilfinger Real Estate."
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