Multi Development opens shopping center Forum Kayseri

Forum Kayseri, designed and developed by Multi Development Turkey together with Union Investment, opens its doors on December 21, 2011. 150,000 m² of construction area, 65,000 m² gla and parking for 2.000 vehicles, Forum Kayseri has an investment value of € 250 million, is Multi’s 10th mall developed in Turkey, and will be managed by Multi Mall Management.

Hulusi Belgü, CEO of Multi Development Turkey, said Multi Development Turkey is the leader of the Turkish mall investment sector under the “Forum” shopping centers brand since 2004, and added, “We are proud to bring Forum Kayseri to the people of Kayseri as our 10th Forum Mall. With an investment value of €250 million, Forum Kayseri will be the shopping and social meeting point of Kayseri and represent world-class standards. With its 150,000 m² of construction area; 65,000 m² gla, and a 2000-vehicle parking lot, Forum Kayseri will synchronise with the people of Kayseri.” Belgü said that Forum Malls, having received various top international awards, are all positioned as indispensable assets of the cities they operate in, and make major contributions to those cities as well as their surrounding areas.

Heino Vink, CEO of Multi Corporation, said “I am delighted to witness our 10th individual shopping center opening in this amazing country and in Kayseri which is a most dynamic commercial hub with such rich cultural heritage. I am further encouraged that Multi Mall Management, as with our other 9 centers here, and totalling 50 in Europe will be managing Forum Kayseri to ensure continuity of the concept and maximisation of its attractiveness and value.”

Dr. Frank Billand, Member of the Management Board of Union Investment Real Estate GmbH, Hamburg: „Forum Kayseri marks our second shopping center investment in Turkey which we are proud to realize together with Multi Development. This investment underlines the strategy we have implemented successfully in other countries, focusing on the creation of core products with a dominant market position in mid-size centers. The success of this strategy was proven not least by the almost complete letting of Forum Kayseri at the date of opening, which means that the investors of the UniImmo: Europa fund can look forward to stable cash-flows.“