Turkey’s first real estate portfolio management company, RE-PIE, will be launching a fund to buy four projects of Turkmall, shopping center development and investment pioneer of Turkey. RE-PIE chairman of the board, Haluk Sur told that RE-PIE will be setting up four investment funds for Uniq Istanbul, Novada Outlet Söke, Novada Outlet Akhisar and Novada Tokat.
Appreciating the collaboration between RE-PIE and Turkmall, Sur thanked SPK (Capital Markets Board of Turkey) which has carried out real estate investment trusts, real estate certificates, Islamic bonds (sukuk) and real estate investment funds in devotion until today. Sur stated that the total volume of four funds will be TRY 1 billion (EUR 300 million) and they have already applied to SPK for three of the funds. “Even though we have just begun our publicity events and we are only at the first stage, the demand for Novada Outlet Söke has doubled. This gives us hope and increases our expectation regarding the future of the funds.”