Recalling the Development Process of the Office Market in Ümraniye

How did Ümraniye, where the demand for offices has intensified and I think the demand will continue, get to where it is today? I wanted to take a look at recent history and evaluate the factors that accelerated the development of the region for you.

About ten years ago, perhaps the first thing that came to mind when Ümraniye was mentioned was the exploding Ümraniye garbage dump. A few years later, one of the world's largest pharmaceutical companies moved its headquarters to this region. This radical decision created a bomb effect in the real estate sector, which was in its infancy at the time. A world giant was moving its headquarters to an almost forested land in Ümraniye.

For the two to three years following these years, Ümraniye remained quiet except for a few office investments. With the revival of the economy and the construction sector, eyes started to turn to Ümraniye. Because new buildings were being constructed in the region an office building of approximately 20.000 m2 was fully rented as a support office of a bank.

One of the biggest advantages of the region was its location. Its location between the Bosphorus and Fatih Sultan Mehmet Bridge, which facilitated access to the region from various roads, played an influential role in the decision of many office users.

We cannot ignore the supply and demand situation in the Istanbul Office Market, especially between 2005 and 2008. In this period when Ümraniye's star started to shine, it was almost impossible to find large-scale offices on both the European and Asian sides. In these periods when the stock was limited, naturally the rental figures were increasing day by day. At this point, Ümraniye started to stand out, offering large areas at competitive prices. Ümraniye has managed to make its name among the defined office districts.

The office buildings in the region have the quality of taking lessons from the mistakes made in many office buildings. Almost all of the projects in the region are buildings that reflect the developing technology, give importance to floor efficiency, are far away from the I-done-it mentality, and take into account the needs of office users. For this reason, the buildings in the region have surpassed many buildings in other office districts. The fact that there is demand for Ümraniye from regions such as Levent and Etiler is an indication that a qualified building is ahead of everything else.

Of course, it was not very easy for Ümraniye to reach today. Umraniye's lack of social environment was a major disadvantage in the region. Ikea and Meydan Shopping Center are of great importance in closing the social space gap in the region. The opening of small cafes, restaurants, etc. with the increasing working population in the region helped the social environment in the region to recover a little. As the region continues to develop, it is still open to this type of investment.

Another important issue about the region is the ongoing transportation projects in the region. The completion of the ongoing transportation project, which includes wide boulevards, alternative roads, and bridge connections, will ensure that the identity of the region is established.

In addition, it is known that the areas currently used for the auto industry will be relocated in the near future and new buildings will rise here. With the completion of the new project on the last few large plots of land within the Ümraniye office district, the identity of the region will be fully established.

It is seen that the region will continue to develop in the next five years. This development process in the region will set an example for the new regions to be developed.