Investment from Rönesans, Financing from Odeabank​

Odeabank will provide 145 million Euro finance for Rönesans Real Estate's shopping mall-hotel mixed project in Istanbul, Küçükyalı that will be built with an investment of nearly 200 million Euros.

Odeabank, continuing its steady growth by financing huge projects, has signed a protocol with Rönesans Real Estate, a subsidiary of Rönesans Holding to provide145 million Euros finance for the shopping mall-hotel project that has a total investment cost of 200 million Euros.

Odeabank General Manager Hüseyin Özkaya, speaking at the signing ceremony between Odeabank and Rönesans Real Estate, stated that Odeabank has become the 8th largest private bank in Turkey in terms of deposit volume and 10th in assets in just two years. He added: “We will continue to support our corporate customers in all of their financial needs. It is important for both the general economy and the development of the banking sector that, as a bank trying to read the strong dynamics of Turkish economy correctly, Odeabank provides financial support to the construction sector, the locomotive of the Turkish economy. We will continue to support more projects we believe in, in terms of project financing.”

İpek Ilıcak Kayaalp the CEO of Rönesans Holding representing the Holding in the signing ceremony, said that the mixed shopping mall-hotel project with a 60 thousand m2 of rentable space in Küçükyalı is situated on the E5 highway, close to the Kadıköy- Kartal metro station, providing a view of the Marmara Sea and islands from it’s restaurants and hotel. Ilıcak, added: “Our credit agreement regarding financing of our shopping mall and hotel mixed project in Küçüyalı has set a substantial step in our collaboration with Odeabank. Odeabank facilitates the dynamic structure of Rönesans, providing us with rapid and practical solutions whenever we need them. In this regard Odeabank is among the banks that we prefer to work with.” ​​