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| ECE secures financing for "Marmara Park" in Istanbul Just in time for the laying of the foundation stone on March 1, the German company ECE secured the financing of its 220 million euros project "Marmara Park" in Istanbul. Investor will be a closed real estate fund by DWS, taking over 50% of the planned shopping center. The other 50 % will remain the property of ECE / the Otto family. The Turkish Finansbank was won as financing bank providing a credit of up to 115 million euros. With a total rental space of approx. 100,000 m² incl. connected DIY and hypermarkets, Marmara Park will be one of Turkey's largest shopping centers. The premises are located in the Beylikdüzü / Esenyurt district, one of the fastest growing districts of Istanbul. The center has a catchment area of more than four million people. It has a convenient position with own exit ramp directly at the E5 motorway, one of the two arterial roads of the metropolis. More than 250 shops and around 4, 000 parking spaces are planned. Already around 40 % of the space is leased out before the start of construction. Completion is scheduled for fall 2012. Special feature will be the design topic "galaxy" in the complete center. write your comments about the article :: © 2011 Construction News :: home page |