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%)|
|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|
|Rental Income+Common Area Income||:||TRY 87,828,000|