Industrial zones in Istanbul get a facelift
Güncelleme Tarihi:
Hürriyet Emlak
Oluşturulma Tarihi: Şubat 13, 2009 00:00
ISTANBUL - Building apartment complexes around organized industrial zones seems to be the new trend followed by the constructers nowadays. This new tendency pushes investors to also seek low-cost industrial lots to acquire in the outskirts of Istanbul
Several construction companies with expertise in residential buildings are now interested in building apartment complexes around organized industrial zones, or OIZs, in Istanbul. This development has triggered many investors to search for and buy cheap industrial lots outside downtown Istanbul.
The occupancy rate in several sites at İkitelli OIZ, the busiest zone in Istanbul, reaches 90 percent. The average occupancy rate of all other 34 sites is around 50-60 percent. Auto mechanics are mostly at Levent Auto Industry Site or at Atatürk Industrial Site. However, the Auto Gallery Site that was designed to function like an auto center looks like a ghost town today. Moving auto galleries outside the city is an opportunity for this particular site, for there are hundreds of galleries in the city center. And the speculation that all will be moved into the Auto Gallery Site increases current market value here.
İkitelli OIZ to have a facelift
The interest in OIZs in recent years has pulled up the market value. New roads being built and connection routes to be built after the construction of the third bridge will further push up the prices, experts agree. By that time, the OIZ in İkitelli will have a face lift. Today, transportation in the region is a problem.
A site allocated for the automotive sector in the zone still remains unoccupied. RE/MAX Nur real estate broker Kutsal Karan, who is an expert in commercial and industrial sites in the İkitelli area, said: "In Bağcılar-Mahmutbey, there is an auto center too. Besides, the Auto Market in İSTOÇ is quite popular. But the site in İkitelli OIZ is empty."
MASKO Furniture City has been quite popular recently. Shop owners here organize campaigns to increase demand, shopping and the interest directed to the site. MASKO is one of the points of attractions in İkitelli OIZ. It also uses the TEM Highway as an advantage. The occupancy rate in MASKO is at 90 percent. There are not many alternative lots to MASKO in the OIZ. Square meter prices in MASKO are $1,000-$2,000 as some are priced at over $3,000 depending on the location of the lot.
As Marmara and İMSAN industrial sites are in close proximity to the TEM Highway, lots are more valuable here. For instance, the lease for a 450 square meter store changes between 2,500 and 3,500 liras. Two lots in the environs of Marmara and İMSAN are the most valuable, one of which is the İETT garage and the other is the field owned by Bahariye Textiles. These two lots are number one for being close to housing areas. In the north of TEM Highway, we see empty fields towards Kayabaşı district. Slums are being destroyed to be replaced with 65,000 housing units by the state housing corporation, or TOKİ.
Neighboring sites to İkitelli OIZ have enormous potential due to new connection routes and the metro project. Some people see the Basın Ekspres Yolu as the Levent-Maslak area of the future. Therefore, on both sides of the expressway neighboring buildings were used as billboards for a while to advertise companies. But with the urban transformation project, the billboards are no longer allowed. The İkitelli OIZ was set up with the intention of moving workshops outside the city.
Workshops in Kağıthane and the Haliç vicinity in particular were harming people’s health and the environment. They were negative models for city planning.
The occupancy rate in several sites at İkitelli OIZ, the busiest zone in Istanbul, reaches 90 percent. The average occupancy rate of all other 34 sites is around 50-60 percent. Auto mechanics are mostly at Levent Auto Industry Site or at Atatürk Industrial Site. However, the Auto Gallery Site that was designed to function like an auto center looks like a ghost town today. Moving auto galleries outside the city is an opportunity for this particular site, for there are hundreds of galleries in the city center. And the speculation that all will be moved into the Auto Gallery Site increases current market value here.
İkitelli OIZ to have a facelift
The interest in OIZs in recent years has pulled up the market value. New roads being built and connection routes to be built after the construction of the third bridge will further push up the prices, experts agree. By that time, the OIZ in İkitelli will have a face lift. Today, transportation in the region is a problem.
A site allocated for the automotive sector in the zone still remains unoccupied. RE/MAX Nur real estate broker Kutsal Karan, who is an expert in commercial and industrial sites in the İkitelli area, said: "In Bağcılar-Mahmutbey, there is an auto center too. Besides, the Auto Market in İSTOÇ is quite popular. But the site in İkitelli OIZ is empty."
MASKO Furniture City has been quite popular recently. Shop owners here organize campaigns to increase demand, shopping and the interest directed to the site. MASKO is one of the points of attractions in İkitelli OIZ. It also uses the TEM Highway as an advantage. The occupancy rate in MASKO is at 90 percent. There are not many alternative lots to MASKO in the OIZ. Square meter prices in MASKO are $1,000-$2,000 as some are priced at over $3,000 depending on the location of the lot.
As Marmara and İMSAN industrial sites are in close proximity to the TEM Highway, lots are more valuable here. For instance, the lease for a 450 square meter store changes between 2,500 and 3,500 liras. Two lots in the environs of Marmara and İMSAN are the most valuable, one of which is the İETT garage and the other is the field owned by Bahariye Textiles. These two lots are number one for being close to housing areas. In the north of TEM Highway, we see empty fields towards Kayabaşı district. Slums are being destroyed to be replaced with 65,000 housing units by the state housing corporation, or TOKİ.
Neighboring sites to İkitelli OIZ have enormous potential due to new connection routes and the metro project. Some people see the Basın Ekspres Yolu as the Levent-Maslak area of the future. Therefore, on both sides of the expressway neighboring buildings were used as billboards for a while to advertise companies. But with the urban transformation project, the billboards are no longer allowed. The İkitelli OIZ was set up with the intention of moving workshops outside the city.
Workshops in Kağıthane and the Haliç vicinity in particular were harming people’s health and the environment. They were negative models for city planning.