Bilfinger Real Estate wins further management contracts for six shopping centers in Turkey

The portfolio of retail space in Turkey managed by Bilfinger Real Estate is expanding. Following the management contract for Turkey's major "Metropol Istanbul" project, the Frankfurt-based real estate services provider has now accepted further contracts for six shopping centers in Turkey. The mixed-use retail, office, and residential complexes are located in Istanbul, in the Eastern Anatolian city of Erzurum, in Diyarbakir in Southeastern Anatolia, in Zonguldak on the Black Sea coast, and in Kayseri in Central Anatolia. Three of the shopping centers newly added to the portfolio under management are currently under construction. They are expected to open at the beginning or at the end of 2014. Bilfinger Real Estate is responsible for center management and leasing activities of the six complexes, which have a total of 690 stores and over 250,000 square meters of leasable retail space.

Leyla Özulucak, Managing Director of Bilfinger Real Estate Turkey: "With over one million square meters of shopping center space under management and ranking among the top three center managers in Turkey, we will in future shift the focus on the office segment. As a result of the continuing construction boom, the Turkish office market is expected to grow by one million square meters of premium space by 2017. We have identified considerable potential here for winning further contracts."