Nishİstanbul is a mixed-use project consisting of housing, office and retail space located adjacent to the E5 highway and 1.5 km (about one mile) from Atatürk Airport in Yenibosna, near Bahçelievler on the European side of Istanbul. The project is run by the Torunlar-Özyazıcı Project Partnership. Torunlar REIC commands a 60% share in the project.
585 units were built and put up for sale at Nishİstanbul, which comprises three residence blocks, one office block and stores. Construction work on the project was completed in October 2010. Following the completion of the project, the project partners shared the remaining units between them. The project partnership is currently under liquidation.
Due to its central location, the project offers a combination of both living and business areas within one complex.
The office units, with areas of between 270 m² and 1,080 m² , are highly attractive to companies dealing in international trade due to their proximity to the airport.
As of December 31, 2015, 2 offices (530 m² of area), 7 stores (1,718 m² of area) and commercial space (spa) with an area of 1,2000 m² are up for sale.
|Ownership||:||Torunlar REIC (60%)|
|Leasehold / Freehold status||:||Freehold|
|Start of Construction||:||2H 2008|
|Operational Date||:||November 2010|
|Construction Cost||:||TRY 79.5 million|
|Number of Residences/GSA (m²)||:||585/53,204|
|Number of Offices/GSA (m²)||:||63/16,925|
|Number of Stores/GLA (m²)||:||52/10,937|
|Appraisal Value * (December 2016)||:||TRY 15.9 million|
|"*" Appraisal value indicates the value of the remaining units.|