Prime Development, an international shopping centre developer and mall manager specialising in Turkey, is celebrating its five-year anniversary.
Formed by the German real estate managers Carsten Probst and Dr. Philipp von Wilmowsky in late 2007, the company is currently planning to open another shopping centre and to commit new investments in the triple-digit million range in 2013.
Seated in Istanbul, these real estate specialists have so far developed two shopping centres in Turkey, one being the “Prime Mall Iskenderun” and the other the “Prime Mall Antakya”, while also handling the ongoing centre management. Opened in 2010 and 2011, respectively, the shopping centres already report weekend footfalls that are much above the average peer group in Anatolia.
«This success is attributable not least to our active centre management. In fact, we have become trendsetters for events and marketing drives in the respective regions» said Carsten Probst, Managing Director and co-founder of Prime Development. «The deployment of sophisticated marketing measures is meant to integrate shoppers into the day-to-day event world of the prime malls in a pinpoint fashion that causes sales to skyrocket» ,Probst added.
The construction projects of Prime Development emphasize high-end planning, design and execution. «Our German investors have every right to expect high international quality standards from us, because it is the only way to achieve an optimal marketability of the properties» elaborates Dr. Philipp von Wilmowsky, Managing Director and co-founder of Prime Development. «We have pledged ourselves to an institutional-standard performance on every level. This approach covers everything from documented internal work-flows and licensing processes from the very first day of project planning, all the way to bespoke investor reporting that satisfies the highest standard».
A third shopping centre, “Prime Mall Gaziantep”, is currently under construction and scheduled to open in 2013. The project in Gaziantep, another Turkish metropolis with a population of more than a million, was launched in April 2012. Having an investment volume of approximately 125 million euros, Prime Mall Gaziantep will be completed by the end of 2013. The mall with its 160 retail units will extend over 4 floors and a lettable area of around 55,000 sqm. Some of the most important strategic brands have been contracted, and the letting rate already exceeds 55%.
As with the previous projects, the development and management of Prime Mall Gaziantep is masterminded by the international team of Prime Development, which has grown to a size of 70 professionals. Team members have an average of 13 years of industry experience they gained on growth markets everywhere in Europe. In their combined professional careers, the specialists of Prime Development have assisted in the planning, project development, construction and management of nearly 70 shopping centres.
«We remain on a growth path. At the moment, we are reviewing 14 different locations for new investments, including sites outside Turkey. The planned new investments will be in the triple-digit million range» said Probst as he underlined the growth strategy of Prime Development.
Source : Company