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Emaar Square Mall, located in the Ünalan district on Istanbul's Asian side, opened in 2017 as part of a mixed-use development including residences, offices, and a hotel. It spans 138,000 square meters of leasable area across six floors, hosting 415 stores and 52 restaurants. The tenant mix emphasizes luxury brands (approximately 25%), international fashion retailers like Zara and Boyner, electronics outlets such as MediaMarkt, and diverse dining options ranging from fast food to Turkish cuisine.
Entertainment facilities include an aquarium with over 20,000 marine species, a 4DX cinema with 2,400 seats, bowling alleys, VR experiences, Museum of Illusions, and Europe's longest glass skyview terrace at 27 meters. Parking accommodates 4,200 vehicles in a four-story garage.
Market position as Turkey's largest mall supports high visibility, with annual footfall estimated at over 10 million visitors based on regional benchmarks and Emaar's reported robust performance.
Occupancy rates hover around 95-98%, reflecting strong demand amid Istanbul's retail sector recovery in 2024-2025, where commercial vacancy dropped to 10.9% in prime areas.
Rent levels average 30-50 USD per square foot annually for prime spaces, influenced by inflation and currency fluctuations, offering competitive leasing for anchors but higher turnover risks for smaller tenants.
Accessibility via Marmaray Ünalan station and metro lines enhances commuter traffic, though citywide congestion poses challenges.
Demographic profile targets middle-to-upper-income families, young professionals (average age 25-45), and tourists, drawn by the blend of shopping and family entertainment in a growing Asian side population exceeding 3 million.
Leasing advantages include stable occupancy, diverse tenant synergy boosting dwell times to 90+ minutes, and promotional events driving 20-25% conversion rates. Drawbacks encompass market saturation from competitors like Viaport Asia and Akasya AVM, e-commerce erosion (30% of sales shifting online), and economic volatility with 40% YoY rent hikes in some segments straining smaller retailers.
Operational quality is high with low retail crime (under 0.5 incidents per 1,000 visitors) and modern infrastructure, but aging urban access roads may require infrastructure upgrades.
Overall, it suits retailers seeking high-traffic luxury or entertainment-adjacent positioning, balanced against regional competition and macroeconomic pressures.
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Hours of Operation
Hours
| Monday | 09:30 AM — 06:30 PM |
| Tuesday | 09:30 AM — 06:30 PM |
| Wednesday | 09:30 AM — 06:30 PM |
| Thursday | 09:30 AM — 06:30 PM |
| Friday | 09:30 AM — 06:30 PM |
| Saturday | 09:30 AM — 06:30 PM |
| Sunday | Closed |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The primary visitor base comprises middle-to-upper-income families and young professionals aged 25-45 in Istanbul's Asian side, with a population over 3 million and growing urban influx. Tourists add seasonal boosts via proximity to cultural sites. Annual footfall exceeds 10 million, supported by entertainment draws increasing dwell time to 90 minutes and conversion rates of 20-25%. However, economic pressures like inflation reduce discretionary spending, potentially lowering peak traffic by 10-15% during downturns, while family-oriented amenities sustain steady midweek visits.
Tenant Mix and Occupancy
Tenant composition features 25% luxury brands, 40% fashion and accessories, 15% electronics and home goods, and 20% dining and entertainment anchors like the aquarium and cinema. Occupancy stands at 95-98%, indicating robust demand and low 2-5% vacancy, with sales per square meter around 4,000 USD annually. Strengths include synergistic mix enhancing cross-traffic, but weaknesses arise from category overlaps (e.g., multiple fashion outlets) and higher rents (30-50 USD psf) pressuring mid-tier tenants amid 6.82% CAGR in Turkey's commercial market through 2033.
Accessibility and Competition
Excellent public transit links via Marmaray and metro at Ünalan station facilitate access for 70% of visitors, complemented by 4,200 parking spots mitigating car dependency. However, Istanbul's chronic traffic congestion delays peak-hour arrivals by 20-30 minutes, impacting impulse buys. Competition from nearby malls like Viaport Asia (6M footfall) and Akasya AVM intensifies saturation on the Asian side, with e-commerce capturing 30% market share; this challenges niche retailers but favors entertainment-integrated leases with lower risk due to diverse revenue streams.
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İstanbul
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