Korupark Shopping Mall– Bursa
Project Details

Opened in May 2007 as Torunlar REIC's second investment in Bursa, Korupark is one of Turkey's fifteen largest shopping centers. Located in the west of the city near the new axis of development, and with connections to highways, Korupark can easily be accessed by public transport, with bus, minibus and light rail connections. It is situated on the Mudanya road, which connects the city to the seashore and the Istanbul-South Marmara-Aegean highways, and the ferry terminal. The development is in a luxury area adjacent to new residential districts.

Boasting the longest frontage to the main boulevard of any shopping center in Turkey, Korupark is also a mixed project. Generally, the Korupark Residences and Korupark Terrace have attracted families of A- or Bsocioeconomic status; and both are considered to be one of the most prestigious residential developments in Bursa, and are one of the factors increasing the appeal of the shopping center.

Korupark stands out as Bursa's most prestigious shopping center, with an array of national and international brands opening their first stores here. With 51% of the brands being national and 46% being international chain brands (along with 3% being local brands), the mall includes a store mix that all of Turkey, not just a region, can take as a reference.

Korupark has three floors of stores and two car parks, one being an underground car park (2,500-vehicle capacity) and one car park being located above ground (500-vehicle capacity).

Korupark also includes a hypermarket (12,000 m²), a construction market (5,127 m²) and an area of 5,317 m² which includes a multiplex cinema (nine screens in total) and an entertainment area (an entertainment park and a play area for children).

Ownership : Torunlar REIC (100%)
 
Operational Date : 2007
 
Construction Cost : TRY 77.3 million
 
Gross Leasable Area (m²) : 71,267
 
Occupancy Rate (%) : 100% (as of December 2015)
 
Number of Stores : 189
 
Anchor Tenants (52.5% of GLA) : Tesco, Koçtaş, Beymen, C&A, Zara,
Boyner, Mavi Jeans, Marks&Spencer,
LCW, Colin's, Mudo, FLO,
Ayakkabı Dünyası, Electro World
 
Appraisal Value (December 2016) : TRY 1,202 million
 
Average Lease Term as of December 2015 : 3.8 years
 
Leasehold/Freehold Status : Freehold
 
Rental Income+Common Area Income : TRY 87,828,000
 
Footfall : 11.3 million
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