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Prestige Mall, Turkey

The acquisition of the Prestige Mall was completed in May 2007. Set in the suburban town of Bahcesehir about 20km from the centre of Istanbul, the complex was newly opened in January 2007 and has a very modern style incorporating a number of leisure and entertainment facilities as well as conventional shopping centre tenants. It is fully leased to both Turkish and international brands and continues to see significant interest from future potential tenants. On the entertainment front the centre includes a multi-screen movie theatre, bowling alley and fitness centre.

More than 3 years of economic growth have transformed the Turkish economy into one of the fastest growing economies in the OECD. Istanbul is at the crossroads between Europe and Asia and historically is a major trading route to the east and is experiencing significant growth in consumer demand as wages rise and disposable income increases across the country. The new town of Bahcesehir is situated to the north west of Istanbul on the European side of the Bosphorus Strait.

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