Fashionable Istanbul - Emerging Real Estate

Fashionable Istanbul

08/03/2011

 Fashionable Istanbul

Following on from the news last week revealing that PWC lists Istanbul as the hot real estate destination at the moment, the Turkish city is preparing to launch its 2011 shopping extravaganza throughout March and April to further prove its arrival on the world stage. Events like this really capture the imagination and go to show that Istanbul is fast becoming a cosmopolitan, vibrant and exciting city. Add to this £170 million pound fashion outlets, exclusive hotel developments and investment from the likes of Ford and Coca-Cola and it’s not hard to imagine Istanbul competing with some of the more established European cities.

The European capital of culture in 2010, Istanbul now offers one of the largest shopping outlets in Europe through the ‘Viaport’ outlet built in 2008. Fashion giants Benetton, Lacoste, Diesel and Tommy Hilfiger are just some of the international brands that can be found there. However, Viaport Outlet offers more than just good shopping options to the residents of Istanbul with horse riding and go-karting just some of the other things on offer.

But as we all know, fashion and shopping alone will not support a growing economy, business is needed to get involved too and it is – STR Global recently announced that the city is now one of the most popular corporate conference locations in the world which goes someway to explaining the dramatic rise in visitor numbers and hotel occupancy rates. There is also a new science and technology park in development which will more than likely outshine its competitors in mainland Europe. 

But for now, Istanbul is more than happy to showcase its consumer markets as the inaugural 40 day shopping festival launches this month. This huge event will cover the main shopping districts of the city including Abdi İpekçi Street in Nışantaşı, Beyoğlu’s İstiklal Street, Bakırköy’s İstasyon Street, as well as many of Istanbul’s shopping malls and centres. Visitors can expect to be entertained with music concerts and fashion shows while stores will be offering discounts and remaining open until 2am as the energetic city looks to combine fashion with nightlife.

According to Business Monitor International, “Turkey is likely to emerge as one of the world’s highest potential consumer markets over the next decade” – with the level of thought and preparation being put in, it’s not hard to understand why.

Here at Emerging Real Estate, we are really excited with the market opportunities we are offering in Turkey. If you would like to get involved with one of the world’s most exciting cities, then please do not hesitate to get in touch.