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Olivium Outlet Center in Istanbul"s Zeytinburnu district, opened 2000, is a 30,000 sqm outlet mall with 129 stores over 3 levels.
Tenant mix focuses on apparel (60%) with brands like LC Waikiki, DeFacto, Bershka, Adidas, Nike, Boyner Outlet; includes footwear, accessories, electronics, limited F&B (Burger King). Occupancy 90-95%, footfall 25k weekdays/40k weekends (10.7M annual). Rents 25-35 USD/sqm/month. Accessible via Marmaray (500m), metrobus, E-5 highway; 1,200 parking spots. Catchment 1.2M residents within 10km, working-class with 15-20k TRY monthly income.
Positions as value retailer in inflation-hit market, resilient but challenged by e-commerce (20% share) and competitors like Forum Istanbul. Leasing pros: low rents, 3-5 year terms, co-marketing for budget tenants. Cons: 25-year-old infrastructure, traffic congestion, apparel saturation.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment
Zeytinburnu has ~300,000 working-class residents, diverse ethnicities (Turkish, Kurdish, Balkan). Average household income 15,000-20,000 TRY/month, below city average of 25,000 TRY. Primary catchment: 1.2M within 10km from Bakirkoy, Kucukcekmec; high density 15,000/sq km, young (40% under 30, avg age 32), household size 3.2. Targets value shoppers, strong for discount fashion but limits luxury appeal. Population growth 1.5%/year, unemployment 8.5%.
Competition and Market Risks
Competes with Forum Istanbul (5km, 250k sqm, 100% occupancy, 50k daily visitors, family focus) and Axis Istanbul (modern outlet). Istanbul has 5 malls/1M people, apparel saturation >50% national space. Risks: e-commerce 20% market share, inflation 40% in 2026 reducing spending, nearby Merter wholesale diverting budgets. Outlet segment resilient (20% share) but overall vacancy 12-15%, potential footfall stagnation.
Accessibility and Operational Quality
Good public transport: Marmaray 500m walk, metrobus to Taksim 30min, E-5 highway access. 1,200 parking but high traffic causes 20min peak delays, overflow. Operational: 10-22 daily, weekly events, recent 2024 HVAC/facade upgrades. Drawbacks: aging 25yo infrastructure (elevators, basic digital), low safety/security ratings, limited non-apparel categories weaken mix.
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İstanbul
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