Akfen REIT is continuing the High Speed Train Viaduct and Terminal project of TCDD located in Söğütlüçeşme neighbourhood of Kadıköy district of Istanbul. The cost of the Söğütlüçeşme Project is estimated to be EUR 59 million including VAT (including EUR 16.2M share transfer fee) and is planned to be put into service in the third quarter of 2024.

The project, whose concept design was developed by Tabanlıoğlu Architecture within the framework of sustainability principles, aims to create food and beverage and culture and art areas on an area of 16 thousand square metres. The aim of the project, where the open-air market concept is planned to be realised, is to offer the same experience as its counterparts in cities such as London, Barcelona, Paris and Moscow. The project, which will cover a total area of 41,700 square metres and will be the first of its kind in Turkey, is a brand project that is important for the transformation of the region. It is aimed to generate an annual rental income of EUR 8 million (excluding VAT).