Moral Law Firm advises Point Bornova Shopping Mall and Residences
Moral Law Firm is pleased to announce the closing one more of our recent transactions.
The Client
Kavuklar Gayrimenkul Yatırım (“Kavuklar GY”) is one of the leading real estate and construction companies in Aegean Region of Turkey with 10 years of experience. Point Bornova Shopping Mall and Residences, Bayraklı Tower, Doubletree by Hilton, Malatya Park AVM, Efe Suits, Kavuklar Plaza A, Kavuklar Plaza B, Manavkuyu Luxury Residences, EVKA 3 Luxury Residences and Kavuklar Site are some of the valuable projects completed by Kavuklar GY. Kavuklar GY targets to accomplish a 600.000 meter square project which carries a 500 million USD investment value at the end of 2015.
The Transaction
Kavuklar GY has accomplished the construction and development of “Point Bornova Shopping Mall and Residences” (“Point Bornova”) which is a popular and biggest shopping mall and residence mixed project in Izmir. Point Bornova carries an investment value of approximately 1 billion Turkish Lira. It is the first shopping mall in Middle East and Europe with an automatic roof top opens and closes upon necessity.
Leasing and management consultancy of Point Bornova has been carried out by Jones Lang LaSalle Turkey (“JLL”).
Point Bornova brought some leading retail brands to Izmir for the first time such as H&M, COS, Armani Jeans, Furla, Scotch & Soda , Kiehl’s, EA7 Emporio Armani, Vakko Wedding, Sportsoul while possessing 150 different domestic and international brands and has a 56.000 square meters GLA.
Point Bornova officially opened on November 27, 2015.
How Moral Law Firm Assisted the Transaction as a Legal Advisor?
Moral Law Firm advised and represented Kavuklar GY in this prestigious project especially with the following;
• Negotiation and closing of the loan agreement in context of the project finance borrowed from Finansbank;
• Negotiation and closing of approximately 200 leasing agreements;
• Negotiation and drafting of more than 50 supply contracts ,
from the beginning untill its accomplishement in all phases and rendered complete and turnkey legal services.
Vefa Reşat Moral and İdil Pelit as well as Efe Kınıkoğlu, Serkan Pamukkale, Aslı Pamukkale and Karaca Kacar were Team Members from Moral who were involved in Project.
