Capital Partners announces one of the most ambitious tourism development investments in Turkish history
The pioneering real estate developer reveals its plans for one of the largest ever tourism developments in the country.
- US$1.5 billion invested in low-density mixed-use development in Bozbuk/Milas
- Internationally-renowned global and Turkish names in architecture commissioned
- Sustainable environmental approach; local community closely involved
- A new chapter in Turkey’s tourism industry
Capital Partners today unveiled its plans for one of the most ambitious tourism developments in Turkish history. Speaking at a press conference at the Çiragan Palace Kempinski Hotel Istanbul, the company confirmed that Bozbuk village in the region of Milas is to be home to a new 4,817,000 sqm mixed-use development, one of the largest ever built in the country. Backed by an estimated US$1.5 billion (1.95 billion New Turkish Lira) investment, the premium quality development is set to change the face of the Turkish tourism industry through its targeting of the high-end international tourist market - an affluent market interested and respectful of the environment, local people and heritage - which Turkey has been attempting to reach for many years. Through this project, Capital Partners is to create a year-round destination for visitors while providing a broad range of sustainable employment opportunities for the local community.
The mixed-use development, named ‘Kaplankaya’, will see tourist facilities and residential areas co-exist, and will comprise of a number of villas and houses, hotels, a marina, shopping and entertainment areas, schools, and health and sports centres. It will be built in five communities, each with its own distinct character and offering, and each separated by natural topographic corridors running from the hilltops to the sea, providing a natural frontier and privacy. In total, the land will house approximately 2,058 dwellings and five hotels with a further 2,000 beds and will accommodate up to an estimated 12,000 at full capacity. Only 7% of the site will be built on, making it a low-density development and setting a new benchmark for developers in the region.
Capital Partners has commissioned an impressive array of award-winning international architects to bring together nature and modern design with a combination of different styles and approaches. World renowned international architects on board include Lord Norman Foster, Baumschlager-Eberle, Steven Holl, Robert Stern and Carlos Ferrater, along with highly acclaimed Turkish names such as Can Çinici, Şevki Pekin, Nevzat Sayın and Han Tümertekin. With the environment and social structuring taking precedence in the development's design, each architect has been given a designated area of the site and has been encouraged to work with the natural landscape, local heritage and materials to create a sense of organic design.
The first phase of the development will open in 2009 with the construction fully completed by 2012. Once completed, Kaplankaya will attract up to 70,000 domestic and international visitors per year and provide direct employment for an estimated 5,000 people both during construction and on completion. The development is expected to generate a foreign currency income worth approximately US$350 million on an annual basis (435,085,000 New Turkish Lira).
The site was bought by Capital Partners in December 2005 in a private sale with the then-owner, having been on the open market for two years.
Burak Öymen, Partner, Capital Partners, comments:
“The Kaplankaya project was developed around the starting point of: 'How can we develop a project which will reflect the real spirit of Turkey and bring Turkey as a brand to new heights in the increasingly competitive international tourism landscape?' We believe that Kaplankaya heralds a new dawn in the Turkish tourism industry. Our development is not only the most ambitious ever in terms of size, but ambitious in attracting a new, high-end target market and in setting the agenda for a pioneering, holistic approach to real estate development.”
Year-round community and emerging trends
Capital Partners' vision is to create a 12-month round community that co-exists with its local environment, that is to say both the land and its people. The company has identified a need to counteract the structural problems caused by the seasonality of the existing tourism model in Turkey, that currently sees the population of cities such as Bodrum Peninsula swelling from 100,000 to as much as 800,000 in the summer months. Capital Partners aims to lengthen the tourist season by creating a place with a real identity through integration with the local community, delıverıng year-round employment for local people and a more stable local economy whıch ıs less reliant on a short tourism season.
Öymen explains that Kaplankaya capitalises on emerging trends in international tourism but is also mindful of its ability to contribute positively to the local community and its economy:
“Mass tourism as we know it is dying, and is being replaced by visitors who are looking for new experiences, authenticity and a connection with the environment and its people. This new focus on sustainability and authenticity is the future of luxury travel. Turkey has not yet taken full advantage of these new trends but, if we can do this successfully, we will reap the rewards in attracting more affluent and open-minded visitors who will contribute more to our local economies as well as extend the tourist seasons beyond what they are now. This will create both a new breed of sustainable employment opportunities and generate a greater desire within our country to preserve our world-class landscape and heritage for the enjoyment - and financial benefit - of all.”
Burak Öymen believes that Capital Partners’ investor approach is a key attribute which differentiates the company from its competitors:
“Capital Partners’ investor approach has always been out of the ordinary. We achieve this by first raising the standard and quality of our projects, and then with our careful approach towards the communities and people that we touch with our project”.
Design principles
The masterplan for the site has been developed by world-leading specialist Wimberly Allison Tong & Goo (WATG). The topography of the site has been closely followed to ensure that the resulting design makes best use of the land’s natural hills, valleys and coastline for both human enjoyment and the needs of the indigenous fauna and flora. Every planning principle and design concept of Kaplankaya is anchored to the site and reflects Aegean culture. Design principles include revealing the characteristics of the topography, establishing distinct neighborhood characters that will create a diversity of settlements through architectural and landscape design, connecting the mountains and hills to the waterfront by creating ecological corridors, parks, trails and iconic buildings, minimising the impact of the development on the existing ecosystem and enhancing the existing flora and fauna within the new development.
With high emphasis based on employing the best individuals in global and Turkish architecture, Kaplankaya, whose name was chosen after local people revealed that a now-extinct Anatolian panther once inhabited the site, is guaranteed to be striking in design. The destination will provide a new visual icon for the Aegean region, reflecting the heritage, culture and spirit of the area.
Cem Celik, Managing Director, Capital Partners, Turkey comments:
"Our design philosophy for Kaplankaya is to establish a holistic understanding and constitution of sustainable principles and adopt them to urban design, architecture, landscape architecture, brand architecture, environmental signage and lighting design. Our agenda for Kaplankaya is to integrate contemporary design with local textures and techniques, world leading architects with local culture, environmental principles with agriculture and local eco-systems and tourism facilities with local lifestyle."
Regional development
Crucially, Capital Partners sees Kaplankaya as a catalyst for regional development. Following extensive consultation with local people, Capital Partners has instigated a comprehensive economic and social development programme in the area, including projects that support ethical and ecological practices to agriculture and the region, sponsorship of the children's library in Milas and the redevelopment of the local primary school (which started last week), transportation support for pupils to attend the nearest high school and ad hoc improvements to infrastructure in the surrounding villages. The company also recently worked with the community to found a new Cultural Centre, staffed by local people, which will be used to educate visitors to the area about local heritage and provide further employment opportunities through the sale of local handicrafts.
Öymen continues: “Architecturally Kaplankaya will set a new benchmark in Turkish tourism development. It’s about raising standards and the quality of the visitor experience, but not at the cost of the land or the people who live there. We believe in working partnerships with the community and their support is integral to the success of this project. I’m delighted that they have been so supportive of our plans and they know that we are committed to playing our role in the development of the area for the benefit of all.”
Öymen concludes: “Kaplankaya provides us with an opportunity which we must grab with both hands: to show the people of Turkey, and indeed the world, how careful and sensitive real estate development can provide a catalyst for regional development and make positive, long-term differences to people’s lives.”
About Capital Partners: Capital Partners is an international real estate developer, specialising in the emerging markets of CIS and South East Europe where it is setting a new creative benchmark for property development. Experiencing phenomenal growth since its beginnings in Kazakhstan in 2001 , the company now has offices in Almaty, Moscow, Kiev and Istanbul. The company prides itself on working with world-class partners and premium resources to bring an unprecedented level of quality to real estate in emerging markets and has led several landmark projects of international significance, including the Ritz-Carlton in Moscow and the redevelopment of Almaty’s financial district in Kazakhstan
