Developed by RDM Fingen and Kalyon Holding, and located next to Istanbul Airport—Europe’s busiest future hub—the project features 65,000 sqm of GLA with 220 stores across a Designer Park and Retail Park. This dual-format model is not only a first for Turkey, but also a rare concept globally, offering luxury and accessibility side by side.

The project benefits from a prime location with a catchment of 14 million residents, supported by an average purchasing power of €7,200. In addition, Istanbul Airport is expected to serve over 90 million passengers by 2025, further boosting footfall and international appeal. Seamless connectivity via the North Marmara Motorway and the new Ihsaniye metro station ensures rapid access to key city zones in under 30 minutes.

Florentia Village is designed as a full-day destination, with distinct architectural zones including the Luxury Circle, Modern Village, and Gastronomy Circle, along with a central Hotel Square. These curated environments blend shopping, dining, and leisure in a unique and memorable way.

Future phases allow the project to grow to 100,000 sqm and 350 stores, strengthening its position as a long-term commercial and cultural landmark.

At Weconsult, we are proud to lead the leasing operations of this groundbreaking development. Participating in a project of this scale and vision is not only an honor but a reflection of our strong capabilities and growing presence in the retail real estate market.

A potential exists in using technology to create smarter and more integrated spaces. Innovations such as AI-driven design and immersive technologies can revolutionize the way spaces are created and how people interact with them. The focus on sustainability will also encourage innovative approaches, making eco-friendly spaces a priority. Additionally, mixed-use developments that seamlessly combine work and living environments will remain in high demand. Furthermore, gastronomy and gathering venues like entertainment zones, museums, and performance centers will also be the hot topics of 2025.

In general, the aftershocks of the pandemic have permanently shifted priorities, placing greater emphasis on wellness, health, and designs that highlight community needs. Digital integration in placemaking, such as e-commerce partnerships with retail spaces and hybrid physical-digital environments, will reshape the traditional boundaries of the industry. These changes represent more than just trends; they are foundational transformations in how spaces will be designed and used.

Therefore, to navigate 2025 successfully, the industry must focus on innovation, concentrate on collaboration with others, and stay agile. Stronger partnerships between developers and technology providers will be crucial. We hope to see an industry that not only adapts to challenges but sets new benchmarks for innovation, strength, and meaningful contributions to society.

Shopping with All Senses

A shopping experience that stimulates multiple senses creates memorable and enjoyable visits by connecting with customers on various levels. This approach goes beyond visual selling arrangements to include sound, smell, touch and even gustatory elements. New technologies such as artificial intelligence (AI) offer exciting new opportunities to create multi-sensory experiences. AI can curate music playlists that match the store's atmosphere, adjust lighting based on customer behavior, and provide personalized product recommendations through interactive displays. With AI, sensory experiences can be further enhanced by allowing customers to visualize products or interact with virtual elements in the store. For instance, DeFacto made history in Turkey by opening a smart store in Istanbul at Akasya Shopping Center in 2019. Shoppers are assisted by robot advisors and can select product colors and sizes using virtual reality glasses. This step by DeFacto has created a virtual shopping experience by utilizing various senses.

Unintrusive Advertising

Advertising in retail should be integrated into the store environment and sales points without disrupting the customer experience. For example, digital screens showing targeted promotions based on customer demographics and behavior, QR codes that don't interrupt shopping, and interactive kiosks offering additional information and special offers encourage customers to engage with the brand. This approach not only boosts sales but also enriches the shopping experience.

Measurable Experience Strategies

Leveraging data analytics to gain insights into customer behaviors and preferences allows experience-focused strategies to be optimized. Heat maps that track areas where customers spend the most time can identify traffic zones and potential bottlenecks. This enables retailers to improve product placement, store navigation, and the overall shopping experience. Additionally, measuring customer frequency and determining visitor potential helps tailor marketing and inventory management to better meet customer needs.

The increase in mall turnover has also led to high occupancy rates. 2023 saw a surpassing of pre-pandemic occupancy rates, prompting investors in 2024 to focus on the performance of tenants in their portfolios. Performance-based rent increase demands and actions like vacating stores to accommodate new and high-performing brands are the main themes of the current year.

Another important topic for the industry is the turnover generated by tourists. Especially visitors from Gulf countries, has been a significant determinant in the last two years. During the summer months, malls in Istanbul, Bursa, Antalya, Izmir, Afyon, and Gaziantep see nearly 50% of their monthly turnover coming from international consumers.

Investments in shopping malls directly interact with the country's socioeconomic and political development. Over the past 15 years, there has been a transition from a period dominated by foreign investors to one where national developers are prevalent. Due to measures like the "Foreign Currency Ban on Leases" introduced in 2018 and political-economic uncertainties, the proportion of foreign investors in the sector has decreased from 28% to 16% over the last five years.

National investors, on the other hand, include mixed-use elements in their new projects. Mixed-use projects incorporate functions such as retail destinations, residential areas, offices, hospitals, schools, and entertainment spaces. The aim is to minimize potential risks for investors and create a stable, sustainable income model.

In conclusion, amid economic imbalances and political uncertainties, cautious approaches from shopping mall investors are observed, leading to a shift towards other markets and diversified projects. Nevertheless, Turkey remains an important economic player due to its young population, strategic location, and potential across various industries. Diversified investment options such as mixed-use projects, which offer investors more stable returns, are gaining importance. Flexibility and innovation in the Turkish shopping mall sector are increasingly crucial to adapt to economic conditions and maximize potentials.