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  • 1. BODRUM ; ST. TROPEZ OF TURKEYMarketviewIstanbul, November 2010
  • 2. World ContextBodrum, Turkey37°02′N 27°26′EBodrum Marketview | November 2010 Page 2
  • 3. Site + ContextBodrum Bodrum is an upscale seaside resort, known as the ‘Saint Tropez’ of Turkey. Bodrum is a Turkish port town in Mugla Province, in the southwestern Aegean Region of the country. It is located on the southern coast of Bodrum Peninsula, at a point that checks the entry into the Gulf of Gokova, and it faces the Greek island of Kos. Today, it is an international center of tourism and yachting. Once an ancient city, which still bears traces of its archaic past, Bodrum has quickly and quitely become one of the premier leisure destinations in Turkey. With the scent of exclusivity in the air, Bodrum entices the rich and famous upscale alternative to its popular neighbours, Istanbul and Izmir. Although a seasonal market, the city’s occupancy has increased over the years and many businesses and hotels are pushing for flights to the area. Furthermore, despite the looming impact of the credit crunch and the current world economic climate, the bulk of Bodrum’s business, much of which originates from domestic tourism, may not be impacted as much as other leisure destinations such as the USA and the Western Europe.Bodrum Marketview | November 2010 Page 3
  • 4. TransportationMilas-Bodrum International Airport Officially named "Milas-Bodrum Airport", one of the busiest airports of the Aegean Region in Turkey, was opened to international traffic in 1997. It is located between the two important cities of ancient Caria named Milas (Milassos) and Bodrum (Halicarnassus) within the province of Mugla city. Having derived its name from the vast historical heritage of the two towns, the airport serves over two million people every year with one international and one domestic terminal. The history of Milas- Bodrum Airport stands back 01.04.1997 when it started operations in one building which is used as the international terminal at the moment. Since the construction of the international terminal in April 1998 it has served domestic and international air traffic with two different terminals. Due to the increasing passenger capacity, bids for a new international terminal building has been accepted on a build-operate-transfer model and the present international terminal will be used as domestic terminal after the completion of the construction. Milas-Bodrum Airport is one of the twelve provincial airports of General Directorate of State Airports Authority of Turkish Ministry of Transport and Communication. It is open for scheduled and unscheduled international charter flights and domestic flights for 24 hours. The airport is 18km from Milas and 35km from Bodrum. Built on a total area of 4.139.000 m2, the airport consists of one international terminal with the capacity of 2 million passenger/year (16.500m2) and one domestic terminal with the capacity of 600.000 passenger/year (19.200 m2) and welcomes 2.600.000 passengers in total. There is a 3000x45 meter concrete runway, a 3000x30 meter taxiway and a 800x200 meter apron with the capacity of 28 aircraft at the airport.Bodrum Marketview | November 2010 Page 4
  • 5. TransportationMilas-Bodrum International Passenger and Plane Traffic (1/3) The Expected Total Foreign Visitors Coming to Turkey Especially after since the year 2000, passenger traffic at the Number of Foreign Annual % . terminal has increased, in line with the rapid rise in the tourism sector. The earthquake in 1999 and the expectation of terrorist Years CAGR Visitors (000) Change violence caused a loss in number of foreign tourists visiting Turkey 1990 5.389 0 in this year. 1991 5.518 2,4 1992 7.076 28,2 After the crisis in 2001, with the devaluation of TRY, Turkey 1993 1994 6.501 6.671 -8,1 2,6 . increased its competitive advantage and experienced a rise in tourism revenues. Foreign tourists visiting Turkey increased by 1995 7.727 %6,8 15,8 82% between 2001 and 2005. 1996 8.614 11,5 1997 9.689 12,5 In 2006, avian flu, the cartoon crisis and the World Cup in 1998 1999 9.753 7.487 0,7 -23,2 . Germany affected the number of foreign tourists negatively and foreign visitors coming to Turkey declined by 6%. 2000 10.428 39,3 2001 11.277 8,1 Turkey had a quick recovery in 2007 and maintained this 2002 2003 12.922 13.701 14,6 6 . performance and succeeded to increase tourism revenues to USD20 bn and tourist numbers to 26.3 mn in 2008. 2004 17.203 %11,3 25,6 2005 20.523 19,3 A growth rate of 1.1% is realized for the number of arriving 2006 2007 19.820 23.431 -6,1 17,8 . foreign visitors in 2009 under the assumption that there have not been a solid change in Q3 and Q4 months of 2009 as compared to 2008 26.337 12,8 last year’s same period. 2009 26.626 1,1 2010E 28.756 8 Growth rates in the number of foreign tourists visiting Turkey 2011E 2012E 31.200 33.852 8,5 8,5 . during the following period are based on the reports published by EuroMonitor and Business Monitor International research 2013E 36.560 %7,7 8 institutions. 2014E 39.302 7,5 2015E 42.503 7 2016E 44.787 6,5 Source : PWCBodrum Marketview | November 2010 Page 5
  • 6. TransportationMilas-Bodrum International Passenger and Plane Traffic (2/3) The Foreign Visitors of Mugla and Travel Types Travel Type Air Sea Years Turkey (000) Mugla (000) Share % Dalaman % Milas- Bodrum % % 2006 19.820 2.345 11,8 49,2 33,6 17,1 2007 2008 23.341 26.337 2.572 2.876 11 10,9 48,5 48,2 34,1 33,1 17,4 18,7 . Foreign visitors coming to Mugla prefer to arrive by air or sea. According to the actual data, 82% of foreigners coming to Turkey 2009 26.626 2.841 10,7 50,2 31,8 23,1 prefer airlines and it is assumed that the rate will not change 2010E 28.756 3.019 10,5 49,2 32,8 21,4 during projection period. 2011E 31.200 3.276 10,5 48,4 33,6 18 2012E 2013E 33.852 36.560 3.554 3.839 10,5 10,5 47,6 46,7 34,4 35,3 18 18 . According to DHMI data, a decline of 6% in the number of foreign visitors coming to Milas-Bodrum Airport in first seven months of 2014E 39.302 4.217 10,5 45,9 36,1 18 2009 compared to same period last year played an important role 2015E 42.053 4.416 10,5 45,1 36,9 18 in the decline of the share of arriving tourists numbers to Mugla in 2016E 44.787 4.703 10,5 45,1 36,9 18 total number of tourists. Based on actual ratios, the share of foreigners visiting Mugla in total foreign tourists is estimated to be Source : PWC 10.7% in 2009 and 10.5% afterwards. Passenger Traffic in Mugla Airports (000) . As presented in the Foreign Visitors of Mugla and Travel Types table, about 50% of foreigners coming to Mugla use Dalaman Change Airport. By the effect of synergy with new terminal, this ratio is Years Dalaman Milas- Bodrum Dalaman % Milas- Bodrum % expected to decrease to 45% by progressive stages until 2016 and 2006 2.310 1.578 - - consequently, the share of Bodrum Airport is expected to increase. 2007 2.497 1.753 8,1 11,1 During the remaining months of 2009, under the assumptions that 2008 2009 2.771 2.849 1.904 1.809 11 2,8 8,7 5 . Milas-Bodrum Airport passenger traffic will not recover as surprisingly and existing passenger traffic performance will be 2010E 2.971 1.981 4,3 9,5 2011E 3.170 2.203 6,7 11,2 kept, 2009 year-end passenger traffic is expected to decline by 5% 2012E 3.381 2.448 6,7 11,1 in comparison to 2008. 2013E 3.589 2.707 6,1 10,6 2014E 3.790 2.978 5,6 10 Between 2010 and 2016, passenger traffic in Milas Bodrum Airport 2015E 2016E 3.983 4.242 3.259 3.471 5,1 6,5 9,4 6,5 . is expected to increase by a ratio between 6.5% and 11.2% per annum based on the assumptions mentioned. Source : PWCBodrum Marketview | November 2010 Page 6
  • 7. TransportationMilas-Bodrum International Passenger and Plane Traffic (3/3) The International Terminal Passenger Traffic of Milas-Bodrum Airport (mn), 1998-2016 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 - 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source : PWC Occupancy Rates of Planes, 1997-2008 Between 1998 and 2009, passenger traffic experienced an 95% 90% 91% 92% . average annual increase of 6.2% and it is expected to increase by 7.8% during the projection period. 88% 85% 85% 85% 84% 80% 82% As seen in the graph left, seat occupancy rates of planes 75% 78% 74% . arriving to Milas-Bodrum Airport has increased rapidly since International Terminal started operations in 1998. 70% 70% 69% 65% The occupancy rates of planes has been reached a level of 60% 92% in 2008. 55% The increase in the number of planes is estimated to be in 50% 1997 51% 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 . line with the increase in the number of passengers because of the high occupancy rate, which exceeded 90% in recent years. Source : PWCBodrum Marketview | November 2010 Page 7
  • 8. TransportationSome International Flights to Milas-Bodrum Airport Airlines Destinations Air Berlin Seasonal: Düsseldorf, Stuttgart Air Berlin operated by Belair Seasonal: Zürich Air Bucharest Bucharest, Sibiu Alitalia Seasonal: Milan-Malpensa Arkefly Seasonal: Amsterdam Atlasjet Istanbul-Atatürk Austrian Airlines operated by Seasonal: Vienna Lauda Air Corendon Airlines Amsterdam, Brussels, Eindhoven, Lyon, Nantes, Paris, Tel Aviv EasyJet Seasonal: Bristol, Liverpool, London-Gatwick, London-Stansted Germania Berlin-Tegel, Düsseldorf Jet2.com East-Midlands [begins 23 June], Leeds/Bradford [begins 23 June], Manchester [begins 16 May] Livingston Seasonal: Milan-Malpensa Luxair Luxembourg Mistral Air Rome Monarch Airlines (Schedueld) London-Luton Monarch Airlines (Charter) London-Gatwick, Manchester Aalborg, Amsterdam, Billund, Bologna, Bordeaux, Brest, Bristol, Cardiff, Copenhagen, Cork, Dublin, Durham Tees Valley, Edinburgh, Glasgow-International, Hamburg, Onur Air (Charter) Humberside, Liverpool, London-Gatwick, Lyon, Manchester, Marseilles, Milan-Bergamo, Nantes, Newcastle, Paris-Charles de Gaulle, Tel Aviv, Toulouse Amsterdam, Istanbul-Sabiha Gökçen, London-Stansted, Sofia Pegasus Airlines Seasonal: Dublin Rossiya Seasonal: St Petersburg Bristol, London-Gatwick, Manchester Saga Airlines Seasonal: Aberdeen, Birmingham, Cardiff, East Midlands, Humberside, London-Stansted, Newcastle Sky Airlines Seasonal: Birmingham, Hamburg SunExpress Antalya, Berlin-Schönefeld, Cologne/Bonn, Düsseldorf, Frankfurt, Hamburg, Hanover, Leipzig/Halle, Munich, Poznan, Stuttgart Seasonal: Belfast-International, Birmingham, Bristol, Cardiff, East Midlands, Glasgow-International, Leeds/Bradford, London-Gatwick, London-Stansted, Manchester, Thomas Cook Airlines Newcastle upon Tyne Seasonal: Belfast-International, Birmingham, Bournemouth, Bristol, Cardiff, Doncaster/Sheffield, East Midlands, Exeter, Glasgow-International, London-Gatwick, Thomson Airways London-Luton, London-Stansted, Manchester, Newcastle upon Tyne Amsterdam, Eindhoven Transavia.com Seasonal: Rotterdam Transavia.com France Seasonal: Paris-Orly Turkish Airlines Istanbul-Atatürk, Milan-Malpensa, Paris-Charles De Gaulle Source : WikipediaBodrum Marketview | November 2010 Page 8
  • 9. Climate + Geographical DataBodrumThe weather in Bodrum combines the very best of the Mediterranean and the Bodrum Weather SeasonalityAegean: mild winters, hot summers, extremely low humidity and over 300 days 35of sunshine a year. Serious sunbathers will enjoy non-stop hot sunshine between 30 25May and October, and over 12 hours of sunshine in the peak summer months. 20Summer weather in Bodrum is virtually rainless. Summer highs are often over 1530º, though often tempered by breezes. Bodrum summers require a high-factor 10 5sun lotion. Bodrum weather is ideal for swimming, watersports and diving. Warm 0seas reach a very relaxing 25º in the peak summer months.Winter holidays in Bodrum will probably see some rain, but plenty of wintersunshine and very agreeable temperatures by European standards. There is nosnow, no frost, a good 5 or 6 hours of sunshine, and average temperatures as Minimum Maximumhigh as 18º. No winter at all really. Source : TSMS Rainy Days - Hours of Sunshine per Day Bodrum Water Temprature 16 30 14 25 12 20 10 15 8 10 6 5 4 0 2 0 Source : TSMS Number of Rainy Days Hours of Sunshine Source : TSMSBodrum Marketview | November 2010 Page 9
  • 10. PopulationBodrum City Bodrum Center 26.297 Bitez 7.792 Turkbuku 7.288 Gumusluk 7.480 Gundogan 8.021 Konacik 5.074 Bodrum Population Mumcular Ortakent 1.175 6.364 140.000 Turgutreis 18.471 Yali 3.516 %35 Yalikavak 14.454 120.000 TOTAL 105.932 100.000 Village Akyarlar 8.479 80.000 Bahceyakasi 659 Camlik 250 60.000 %367 Comlekci 630 Dagdelen 385 40.000 Derekoy 1.214 Gokpinar 202 20.000 Gurece 498 Guvercinlik 2.158 Islamhaneleri 3.185 - Kemer 409 1990 2000 2008 2010 Kumkoy 336 Series1 20.931 97.826 114.498 131.707 Mazikoy 1.094 Peksimet 2.904 Pinarlibelen 917 Source : TurkStat Sazkoy 945 Tepecik 242 Yakakoy 669 Yenikoy 599 TOTAL 25.775 SUBTOTAL 131.707Bodrum Marketview | November 2010 Page 10
  • 11. TradeCompanies in Bodrum Yacht Production Sector Company No. Transportation 3% 3% Fabrics-Goods 1.501 Bar-Restaurant-Entertainment 1.204 F&B 888 Finance Construction 7% Fabrics-Goods Services 825 7% 20% Consumables 822 Accomodation 736 Construction 557 Accomodation Finance 518 Bar-Restaurant- 10% Entertainment Transportation 255 16% Yacht Production 230 Consumables 11% TOTAL 7.536 F&B Services Source : BCOC 12% 11%Bodrum Marketview | November 2010 Page 11
  • 12. TradeOperational Period of Companies in Bodrum Sector Years Accomodation 11,83 14,00 Transportation 9,56 12,00 Bar-Restaurant-Entertainment 7,72 10,00 8,00 F&B 7,65 6,00 Yacht Production 6,72 4,00 Fabrics-Goods 6,64 2,00 Consumables 6,45 - Construction 6,33 Services 6,06 Finance 5,93 AVERAGE 7,49 Source : BCOCBodrum Marketview | November 2010 Page 12
  • 13. TradeSeasonality of Companies in Bodrum Bodrum - General Bodrum City Center 3% 4% 2% 1% 0% 0% 7% Always Open 14% Always Open Openning in March 4% Openning in April Openning in April Openning in May Openning in May Openning in June Openning in June 77% Others 88% Openning in July Source : BCOC Bitez Gumusluk 4% 0% 1% Always Open 12% Always Open Openning in March Openning in March 39% 49% Openning in April 17% Openning in April Openning in May Openning in May Openning in June 65% Openning in June 5% Openning in July Openning in July 8% 0% 0%Bodrum Marketview | November 2010 Page 13
  • 14. TradeSeasonality of Companies in Bodrum Turkbuku Gumbet 2% 2% 1% Always Open 17% Always Open Openning in March Openning in March 49% Openning in April 36% Openning in April Openning in May 28% 54% Openning in May Openning in June Openning in June Openning in July 7% Openning in July 4% 0% 0% Source : BCOC Gundogan 0%0% Konacik 1% 0% 1%0% 0% 11% Always Open Always Open Openning in March Openning in March 10% 2% Openning in April Openning in April Openning in May Openning in May Openning in June Openning in June 76% Openning in July 99% Openning in JulyBodrum Marketview | November 2010 Page 14
  • 15. TradeSeasonality of Companies in Bodrum Guvercinlik Ortakent 2% 5% 1% 6% Always Open Always Open 12% 0% 13% Openning in March Openning in March 0% Openning in April 9% Openning in April Openning in May 0% Openning in May Openning in June Openning in June 73% 79% Openning in July Openning in July Source : BCOC Mumcular Torba 1% 3% 2% 3%1% 0% 0% Always Open Always Open 11% Openning in March Openning in March Openning in April Openning in April Openning in May 53% Openning in May 33% Openning in June Openning in June Openning in July Openning in July 93% 0%Bodrum Marketview | November 2010 Page 15
  • 16. TradeSeasonality of Companies in Bodrum Turgutreis Yalı 4% 1% 3% 4% Always Open 1% Always Open 13% 9% 4% Openning in March 1% Openning in March 0% Openning in April Openning in April Openning in May Openning in May Openning in June Openning in June 78% 82% Openning in July Openning in July Yalıkavak 3% 6% Always Open 3% 9% Openning in March 1% Openning in April Openning in May Openning in June 78% Openning in July Source : BCOCBodrum Marketview | November 2010 Page 16
  • 17. TourismNumbers in 2009 Bed Capacity 18.000 15.739 16.000 14.000 13.732 12.000 10.689 10.000 8.000 7.912 6.000 4.966 4.747 4.244 4.184 3.945 2.782 4.000 2.000 757 601 189 74 - Source : BCOC Types 160 140 120 148 100 127 125 80 60 40 52 58 20 6 42 40 22 9 6 2 2 2 31 1 11 0 Source : BCOCBodrum Marketview | November 2010 Page 17
  • 18. TourismNationality of Visitors in 2009Bodrum-Milas Airport International Arrivals United Kingdom 370.240 Netherlands 110.393 400.000 Belgium 93.797 350.000 300.000 France 77.933 250.000 Germany 52.386 200.000 Russia 48.268 150.000 Poland 31.930 100.000 Ireland 23.498 50.000 Denmark 19.437 0 Italy 15.165 Ukraine 12.893 Serbia 11.809 Source : TurkStatBodrum Marketview | November 2010 Page 18
  • 19. TourismDistribution of Landing Planes by Countires in 2009Bodrum-Milas Airport January February March April May June July August September October November December Total Country(*) Germany - - - - 46 50 50 72 62 62 - - 342 Austria - - - - 4 8 10 8 8 2 - - 40 Belgium - - - 4 - 8 14 22 18 18 2 - 86 Denmark - - - - 6 8 10 8 8 6 - - 46 France - - - 28 65 57 73 117 62 20 - - 422 Netherlands - - - 32 108 104 116 126 126 122 - - 734 United Kingdom - - 8 100 355 440 444 510 430 388 28 - 2 703 Switzerland - - - - 6 8 16 18 18 10 - - 76 Italy - - - - 6 28 48 54 34 - - - 170 Luxembourg - - - 6 8 10 8 10 8 8 2 - 60 Azerbaijan - - - - - 6 18 18 2 - - - 44 Bulgaria - - - - 2 8 8 10 8 2 - - 38 Czech Rep. - - - - 4 20 22 18 20 4 - - 88 Kazakhstan - - - - 2 10 12 12 2 - - - 38 Poland - - - 2 16 23 26 28 22 2 - - 119 Romania - - - - - 12 24 16 14 2 - - 68 Russia - - - - 15 96 100 90 90 18 - - 409 Ukraine - - - - 2 38 62 34 32 4 - - 172 Serbia - - - - - 22 34 22 16 - - - 94 Others - - - - 8 44 74 70 60 14 2 - 272 T.Foreign - - 8 172 653 1 000 1 169 1 263 1 040 682 34 - 6 021 Turkey 8 - 7 177 608 755 1 043 1 153 883 553 38 22 5 247 Grand Total 8 - 15 349 1 261 1 755 2 212 2 416 1 923 1 235 72 22 11 268 Source : TurkStatBodrum Marketview | November 2010 Page 19
  • 20. TourismSeasonality of Bodrum-Milas Airport in 2009 Arrived Planes to Bodrum-Milas Airport in 2009 Seasonality of Bodrum-Milas Airport in 2009 3 000 (International) 2 500 1 400 2 000 1 200 1 500 1 000 1 000 800 600 500 400 - 200 Italy Russia Netherlands Romania Ukraine France Poland Luxembourg Kazakhstan Austria Others Azerbaijan Germany Serbia Belgium United Kingdom Switzerland Bulgaria Czech Rep. Denmark - Source : TurkStat Source : TurkStat Seasonality of Bodrum Milas Airport in 2009 (Domestic) 1 400 1 200 1 000 800 600 400 200 - Source : TurkStatBodrum Marketview | November 2010 Page 20
  • 21. TourismAccomodation Prices of Bodrum Hotels in 2011 Hotel Price ($) Star Location Hotel Price ($) Star LocationAzka Hotel 94 5 Bodrum The Suu Turkbuku 182 4 TurkbukuThe Marmara Bodrum 208 5 Bodrum Flipflops Apartments 71 3 GullukBodrium Boutique Resort & Spa 125 4 Bodrum El Vino Hotels & Suites 203 3 BodrumKempinski Hotel Barbaros Bay 226 5 Yali Merve Park Otel 84 3 BodrumWOW Bodrum Resort 168 5 Bodrum Bodrum Park Hotel 32 - BodrumYildiz Hotel 34 3 Gumbet Omar Hotel 112 3 TorbaDedeman Bodrum 116 4 Bitez Karia Princess Bodrum 239 5 BodrumDivan Palmira 215 5 Turkbuku Taskule Hotel 115 3 YalikavakSu Hotel 98 3 Bodrum Lavanta Hotel 147 3 BodrumCasa DellArte 305 5 Torba Aslan Hotel 72 3 TurgutreisGrand Yazici 135 4 Bodrum Beliz 119 3 TurkbukuDoria Hotel Bodrum 243 5 Bodrum Kuum Hotel 386 5 TurkbukuHotel Gulec 56 - Bodrum Tuzla Golf Residences 105 4 GuvercinlikMimosa Apart Otel 53 2 Gumbet The Luvi Hotel 136 3 GumbetMacakizi Hotel 346 5 Turkbuku Otel Gumusluk 86 3 GumuslukGardenya Apart 49 3 Bodrum 4 Reasons Hotel Bistro 157 3 BodrumSeckin Konaklar 84 3 Bodrum Ada Hotel 484 4 TurkbukuSunny Garden Nilufer Hotel 42 3 Turgutreis Costa Farilya 210 3 YaliSandima Boutique Suites 246 5 Bodrum Rixos Premium Bodrum 292 5 GuvercinlikGardens of Babylon 189 4 Turgutreis Palmalife Bodrum Resort & Spa 421 3 YalikavakGardenya Pension 56 - Bodrum Source : Expedia *Prices for June 2011, Standard Room, 1 AdultBodrum Marketview | November 2010 Page 21
  • 22. Marinas in Bodrum Port Bodrum Yalikavak Bodrum Milta Marina Dogus Marina Turgutreis Marinas Location Operator Capacity (on the sea) Capacity (on the ground) Milta Bodrum City Center Dogan Holding 450 Yachts 80 Yachts D-Marin Turgutreis Dogus Holding 550 Yachts 150 Yachts Port Bodrum Yalikavak Profilo 336 Yachts 100 YachtsBodrum Marketview | November 2010 Page 22
  • 23. Shopping Malls in Bodrum 1 Location GLA (m2) Stores 1. Oasis Shopping Mall Gumbet 25.000 239Bodrum Marketview | November 2010 Page 23
  • 24. Retail in Bodrum 28 6 19 26 10 8 22 25 4 14 2 3 1 21 20 9 15 17 5 12 23 16 27 18 13 11 7 24 No. Brand Location No. Brand Location No. Brand Location No. Brand Location 1 Teknosa Konacik 8 Migros Gundogan 15 Carrefour Bodrum 1 22 BIM Gundogan 1 2 Koctas Konacik 9 Migros Ortakent 16 Carrefour Bodrum 2 23 BIM Bodrum 3 Metro Ortakent 10 Migros Yalikavak 2 17 Carrefour Gumbet 24 BIM Turgutreis 4 Kipa Ortakent 11 Migros Turgutreis 2 18 Carrefour Turgutreis 25 BIM Gundogan 2 5 Migros Bodrum 1 12 Migros Bodrum 2 19 Carrefour Yalikavak 26 BIM Gundogan 3 6 Migros Yalikavak 1 13 Migros Turgutreis 3 20 BIM Konacik 27 BIM Bodrum 2 7 Migros Turgutreis 1 14 Migros Torba 21 BIM Ortakent 28 BIM YalikavakBodrum Marketview | November 2010 Page 24
  • 25. 1Traditional Bazaars in Bodrum 2 5 4 3 Location Days 1 Milas Tuesday 2 Mumcular Sunday 3 Turgutreis Saturday 4 Bitez Thursday 5 Ortakent WednesdayBodrum Marketview | November 2010 Page 25
  • 26. Promenades in Bodrum 4 5 6 3 1 2 1. Bodrum City Center 4. Yalikavak 2. Turgutreis 5. Turkbuku 3. Gumbet 6. GumuslukBodrum Marketview | November 2010 Page 26
  • 27. Popular Beach Districts in Bodrum 4 5 7 6 8 3 1 10 2 9 11 12 1. Bodrum City Center 4. Yalikavak 7. Gundogan 10. Ortakent 2. Bitez 5. Turkbuku 8. Gumusluk 11. Yali 3. Gumbet 6. Torba 9. Akyarlar 12. TurgutreisBodrum Marketview | November 2010 Page 27
  • 28. TourismBlue Flag Beaches in Bodrum No. Location Beach No. Location Beach 1 Guvercinlik Kervansaray Otel 23 Turgutreis Armonia Holiday Village & Spa 2 Guvercinlik Isis Hotel 24 Turgutreis Club Armonia Bodrum Houses 3 Bodrum Noa Bodrum Beach Club 25 Turgutreis Kefaluka Resort Otel 4 Bodrum Samara Hotel 26 Turgutreis La Blanche Resort & Spa 5 Bodrum Isil Club 27 Turgutreis Kadikale Resort 6 Bodrum Azka Otel 28 Turgutreis Magiclife Bodrum 7 Bodrum Voyage Bodrum 29 Turgutreis Yelken SPA Hotel Club Resort 8 Bodrum Wow Bodrum Resort 30 Yali Sea Garden II 9 Torba Torba Club Voyage 31 Yali Kempinski Hotel Barbaros Bay 10 Bodrum Kumbahce Public Beach 32 Yali Latanya Beach Resort Otel 11 Bitez Ambrosia Hotel 33 Yali Bodrum Holiday Resort & Spa 12 Bitez Aktur Bitez 34 Yali Valtur 13 Bitez Bitez Public Beach 35 Yali Ersan Resort SPA 14 Bitez Aktur Apart 36 Yali Palm Holiday Village 15 Turkbuku Voyage Turkbuku 37 Yali Sea Garden I 16 Turkbuku Hekimkoy Holiday Resort 38 Yalikavak Hotel Golden Age Bodrum 17 Gundogan Green Beach Resort Otel 39 Yalikavak Cactus Mirage Family Club 18 Gundogan Gundogan Public Beach 40 Yalikavak Cactus Fleur Beach Club, 19 Ortakent Light House Deluxe Resort & Spa 41 Yalikavak Delta Beach Resort 20 Ortakent Scala Beach 42 Yalikavak Yalıkavak Halk Plajı 21 Ortakent Ortakent Public Beach 43 Yalikavak Club Flipper 22 Turgutreis Turgutreis Gunbatimi Public Beach Source : BFTBodrum Marketview | November 2010 Page 28
  • 29. Major Residential Areas 16 15 11 10 12 9 13 8 4 5 3 1 6 2 7 14 1. Bodrum Center 5. Ortakent 9. Gumusluk 13. Torba 2. Gumbet 6. Akyarlar 10. Yalikavak 14. Yaliciftlik 3. Bitez 7. Turgutreis 11. Gundogan 15. Guvercinlik 4. Konacik 8. Kadikalesi 12. Turkbuku 16. GullukBodrum Marketview | November 2010 Page 29
  • 30. Residential MarketMarket Overview Average Prices ($/m2) 3.000 2.500 2.000 1.500 1.000 500 - Bodrum Gumbet Bitez Konacik Ortakent Akyarlar Turgutreis Kadikalesi Gumusluk Yalikavak Gundogan Turkbuku Torba Yaliciftlik Guvercinlik Gulluk Center Series1 2.819 2.071 2.618 2.383 2.092 1.685 1.930 1.590 1.299 2.114 1.839 2.276 2.162 1.103 1.646 1.147 Source: Internal Analysis Average Sizes (m2) 300 250 200 150 100 50 - Bodrum Gumbet Bitez Konacik Ortakent Akyarlar Turgutreis Kadikalesi Gumusluk Yalikavak Gundogan Turkbuku Torba Yaliciftlik Guvercinlik Gulluk Center Series1 266 159 169 206 210 132 211 183 140 127 137 190 220 216 119 127 Source: Internal AnalysisBodrum Marketview | November 2010 Page 30
  • 31. Residential MarketCloser LookBodrum City Center Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Regnum Escana Villa 460 3.220.000 7.000 2 Regnum Escana Villa 400 2.240.000 5.600 3 Ege Evleri Villa 180 800.000 4.444 4 Ormancilar Sitesi Villa 115 300.000 2.609 5 Myndos Gate Villa 175 377.000 2.154 6 Gokce Evleri Villa 100 179.000 1.790 7 Lavanta Bahcesi Evleri Villa 130 220.000 1.692 8 Aeron Bag Evleri Villa 91 150.000 1.648 9 Gokce Evleri Villa 150 214.000 1.427 10 Minikent Villa 90 93.000 1.033 11 Senfoni Evleri Villa 73 71.500 979 Source: Internal Analysis 12 Aeron Bag Evleri Villa 44 42.000 955Bodrum Marketview | November 2010 Page 31
  • 32. Residential MarketCloser LookBitez Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Aktur Villa 125 600.000 4.800 2 Mare Sitesi Apartment 65 178.500 2.746 3 Aytur Villa 125 330.000 2.640 4 Aktur Villa 300 750.000 2.500 5 Sabri Koc Apartment 80 160.000 2.000 6 Hisar Villaları Villa 180 285.700 1.587 7 Palm Life Apartment 75 118.000 1.573 8 Burak Sitesi Villa 140 214.250 1.530 9 Harmony Town Apartment 90 136.000 1.511 10 Lavanta Sitesi Apartment 95 122.000 1.284 Source: Internal Analysis 11 Yali Sitesi Villa 125 150.000 1.200Bodrum Marketview | November 2010 Page 32
  • 33. Residential MarketCloser LookGümbet Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Aura Sitesi Villa 80 189.000 2.363 2 Ilmik Sitesi Villa 110 215.000 1.955 3 Greenhill Villa 83 132.000 1.590 4 Melengec Sitesi Villa 250 250.000 1.000 5 Mutlu Sitesi Villa 140 122.000 871 6 Kaptan Sitesi Villa 100 79.000 790 Source: Internal AnalysisBodrum Marketview | November 2010 Page 33
  • 34. Residential MarketCloser LookKonacik Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Doktorlar Sitesi Villa 120 214.000 1.783 2 Excel Life Villa 134 215.000 1.604 3 Cinar 2 Sitesi Apartment 85 118.000 1.388 4 Turunc Evleri Villa 145 190.000 1.310 5 Pedesa 3 Apartment 85 104.000 1.224 6 Pedesa 1 Apartment 75 86.000 1.147 7 Tepe Sitesi Villa 120 122.500 1.021 Source: Internal Analysis 8 Ali Yaman Evleri Apartment 105 90.000 857Bodrum Marketview | November 2010 Page 34
  • 35. Residential MarketCloser LookOrtakent Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Yesilyurtlular Sitesi Villa 130 500.000 3.846 2 Ortakent Evleri Villa 75 222.000 2.960 3 Karya Evleri Villa 150 424.000 2.827 4 Yahsi Evleri Villa 130 350.000 2.692 5 Yesilyurtlular Sitesi Villa 130 270.000 2.077 6 Limon Evleri Villa 70 140.000 2.000 7 Turkuaz Sitesi Villa 95 186.000 1.958 8 Eczacilar Sitesi Villa 85 96.000 1.129 9 Sanatcilar Sitesi Villa 140 114.000 814 Source: Internal AnalysisBodrum Marketview | November 2010 Page 35
  • 36. Residential MarketCloser LookAkyarlar Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Cennet Sitesi Villa 80 120.000 1.500 2 Nagme Sitesi Villa 100 150.000 1.500 3 59LAR Sitesi Villa 120 160.000 1.333 4 Begonvil Sitesi Villa 80 96.000 1.200 5 Kocak Sitesi Villa 140 160.000 1.143 6 Kalekent Villa 100 79.000 790 7 Pinar Sitesi Villa 150 114.000 760 Source: Internal AnalysisBodrum Marketview | November 2010 Page 36
  • 37. Residential MarketCloser LookTurgutreis Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Tarik Erdem Sitesi Apartment 88 214.000 2.432 2 Bahceli Evler Villa 130 214.000 1.646 3 Nagme Sitesi Villa 100 150.000 1.500 4 Izcap Evleri Apartment 105 144.000 1.371 5 Modin 3 Evleri Villa 85 107.000 1.259 6 Kugu Sitesi Apartment 125 154.000 1.232 7 Pinar Sitesi Villa 90 86.000 956 8 Kardelen 1 Apartment 178 121.000 680 9 Hurpa Sitesi Villa 175 114.000 651 Source: Internal AnalysisBodrum Marketview | November 2010 Page 37
  • 38. Residential MarketCloser LookKadikalesi Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Gardens of Babylon Villa 108 880.000 8.148 2 Gardens of Babylon Villa 103 756.000 7.340 3 Gardens of Babylon Villa 109 770.000 7.064 4 Gardens of Babylon Villa 197 1.330.000 6.751 5 Ayti Evleri Villa 182 649.000 3.566 6 Safir Evleri Villa 147 359.000 2.442 7 Kadikalesi Evleri Apartment 75 126.000 1.680 8 Mandalin Evleri Villa 165 215.000 1.303 9 Sunpark Apartment 40 50.000 1.250 10 Ormancilar Sitesi Villa 95 114.000 1.200 11 Ormancilar Sitesi Villa 100 82.000 820 Source: Internal Analysis 12 Ugur Sitesi Villa 90 68.000 756Bodrum Marketview | November 2010 Page 38
  • 39. Residential MarketCloser LookGumusluk Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Muskulum Ciftligi Villa 90 360.000 4.000 2 Muskulum Ciftligi Villa 200 800.000 4.000 3 Dream Houses Villa 135 350.000 2.593 4 Yali Evleri Villa 120 220.000 1.833 5 Yali Evleri Villa 110 182.000 1.655 6 Gumsan Villa 120 157.000 1.308 7 Silverbay Evleri Villa 55 71.000 1.291 8 Aktas Evleri Villa 80 84.000 1.050 9 Gizli Vadi Evleri Villa 70 71.000 1.014 10 Kamelya Sitesi Villa 150 121.000 807 Source: Internal Analysis 11 Kamelya Sitesi Villa 350 179.000 511Bodrum Marketview | November 2010 Page 39
  • 40. Residential MarketCloser LookGundogan Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Farilya Evleri Villa 115 364.000 3.165 2 Palmira Evleri Villa 350 1.100.000 3.143 3 Kardesler Villa 120 321.000 2.675 4 Tunali Seashore Villa 136 287.000 2.110 5 FugaYaz Villa 232 375.000 1.616 6 Onurkent Villa 80 115.000 1.438 7 Billurkent Villa 110 136.000 1.236 8 Kirmizi Degirmen Villa 165 192.000 1.164 9 Hacettepelileri Villa 135 154.000 1.141 Source: Internal AnalysisBodrum Marketview | November 2010 Page 40
  • 41. Residential MarketCloser LookYalikavak Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Palmalife Villa 150 950.000 6.333 2 Tuzel Villa 137 700.000 5.109 3 Pasanda Konaklari Villa 200 840.000 4.200 4 Arsipel Evleri Villa 240 966.000 4.025 5 Tekfen Yalikavak Villa 100 350.000 3.500 6 Monarch Villa 80 266.000 3.325 7 Novron Ardesco Villa 459 1.525.000 3.322 8 Bay Peninsula Villa 376 1.120.000 2.979 9 Loca Yali Villa 250 571.000 2.284 10 Gokcebel Evleri Villa 150 340.000 2.267 11 Mesa Evleri Villa 145 316.000 2.179 12 Cennetkoy Villa 200 410.000 2.050 13 Park Dolphin Villa 157 300.000 1.911 14 Platinum Beach Resort Villa 86 157.000 1.826 15 Seba Evleri Villa 165 300.000 1.818 16 Mount Yalikavak Villa 55 89.000 1.618 17 Camelot Villa 180 280.000 1.556 18 Mai Villa 80 115.000 1.438 Source: Internal Analysis 19 Gumustepe Evleri Villa 77 100.000 1.299 20 Valley Gardens Regency Villa 216 240.000 1.111Bodrum Marketview | November 2010 Page 41
  • 42. Residential MarketCloser LookTurkbuku Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Incilipinar Villa 360 1.725.000 4.792 2 Koyici Evleri Villa 90 350.000 3.889 3 FugaYaz Villa 85 287.000 3.376 4 Clearview Homes Villa 133 281.000 2.113 5 Sandalet Evleri Villa 105 214.000 2.038 6 Terassu Evleri Villa 200 322.000 1.610 7 Mavi Evler Villa 180 268.000 1.489 8 Saklibahce Evleri Villa 85 107.000 1.259 Source: Internal AnalysisBodrum Marketview | November 2010 Page 42
  • 43. Residential MarketCloser LookTorba Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Cagdas Torba Evleri Villa 250 1.135.000 4.540 2 Cagdas Torba Evleri Villa 260 1.150.000 4.423 3 Amiral Sitesi Villa 120 157.000 1.308 4 Camlitepe Sitesi Villa 160 171.000 1.069 Source: Internal AnalysisBodrum Marketview | November 2010 Page 43
  • 44. Residential MarketCloser LookGuvercinlik Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Maya Vlla 230 600.000 2.609 2 Regnum Bargylia Villa 81 200.000 2.469 3 Regnum Bargylia Villa 122 300.000 2.459 4 Regnum Bargylia Villa 81 176.000 2.173 5 Doktorlar Sitesi Villa 100 207.000 2.070 6 Yamacevler Villa 270 471.500 1.746 7 Bag Evleri Villa 92 78.500 853 8 Basko Sitesi Villa 90 71.500 794 Source: Internal AnalysisBodrum Marketview | November 2010 Page 44
  • 45. Residential MarketCloser LookGulluk Project Type Size (m2) Sales Price ($) Sales Price ($/m2) 1 Polaris Aparts Apartment 87 168.000 1.931 2 Hermias Apartments Apartment 75 123.200 1.643 3 Bodream Homes Villa 145 194.600 1.342 4 Marina Vista Homes Villa 77 82.600 1.073 5 Sinpas Villa 88 78.645 894 6 Gultur Villa 125 107.000 856 Source: Internal AnalysisBodrum Marketview | November 2010 Page 45