Esas Gayrimenkul

What Esas Gayrimenkul does

Esas Gayrimenkul is a Turkish commercial real estate investment and asset management company founded in 2009 as a wholly-owned subsidiary of Esas Holding, Turkey's largest family investment group. The company owns and operates seven Burda-branded shopping malls across Turkish cities including Adana (01 Burda), Balıkesir (10 Burda), Bolu (14 Burda), Çanakkale (17 Burda), Luleburgaz/Kırklareli (39 Burda), Kocaeli (41 Burda), and Zonguldak (67 Burda), alongside two Istanbul office buildings (Esas Aeropark and Esas Plaza) and two residential projects. It additionally provides asset management services across more than 20 commercial properties spanning 18 cities plus an international shopping mall operation in Iraq (Family Mall Duhok). The portfolio covers over 1 million m² of leasable area, is valued at €1.9 billion, and serves more than 100 million visitors annually. The company is supported by Esas Holding's €3 billion cumulative investment capacity and operates with offices in Istanbul (headquarters), London, and Frankfurt.

The company's technology stack is an integrated commercial real estate platform comprising Shopla (a consumer-facing mobile application delivering AI-personalized campaign notifications based on in-mall visitor behavior and receipt data), Assetify (a digital asset management platform), Visitify (a visitor experience management platform), and Project Horizon (an AI-based predictive analytics platform for retail and commercial real estate management unveiled at Perakende Günleri 2026). The EsasLabs research division publishes sector benchmarks including Müşteri Laboratuvarı (Customer Laboratory) which segments shoppers into six proprietary archetypes, plus the AVM Digital Maturity Research developed with Digitopia. Six solar energy plants provide 72% of common-area energy requirements with a 100% renewable target, and multiple properties hold LEED Gold certifications from the U.S. Green Building Council.

Esas Gayrimenkul generates revenue across three streams: recurring rental income from owned commercial real estate (the largest stream), third-party asset management and professional property management fees, and digital platform services via Shopla that monetize tenant and visitor engagement data. Pricing is per-property and negotiated rather than standardized, with multi-year contracts. The go-to-market is sales-led, with field leasing teams managing commercial properties across the owned and managed portfolios, while the international offices under the Esas Properties brand handle European investor relations and cross-border deployment. Customer segments encompass retail brand tenants (e.g., Saat&Saat, Özdilek, Paribu Cineverse), corporate office tenants including Esas Holding itself, and third-party real estate asset owners seeking outsourced management.

Name

Esas Gayrimenkul

Legal name

ESASBURDA Turizm ve İnşaat Sanayi Ticaret Anonim Şirketi

Website

https://esasgayrimenkul.com.tr

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Esas Gayrimenkul is a Turkish commercial real estate investment firm and asset manager owning seven Burda-branded shopping malls and two offices across 18 cities, managing 20+ additional properties, and operating Shopla, an AI-driven consumer mobile app serving 100+ million annual visitors.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment and Asset Management

NAICS

Offices of Real Estate Agents and Brokers (53121)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

Keywords

• Commercial real estate investment
• Shopping mall management
• Asset management services
• Retail property leasing
• Office building development

Headquarters

HQ city

Istanbul

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Commercial Real Estate Rental Income: Rental revenue from owned shopping malls (7 AVMs across Turkey), office buildings (2 offices including Aeropark and Plaza), and residential projects. The portfolio includes properties across 18 cities in Turkey managing over 1 million m² of leasable area.
2. Asset Management Services: Professional property management services including leasing, operations management, and advisory for 20 commercial real estate properties. The company aims to expand its asset management platform to 25 AVMs.
3. Digital Platform Services: Technology platforms including Shopla app providing digital marketing, customer engagement, and data analytics services to tenants and visitors of shopping malls.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Esas Gayrimenkul is a commercial real estate investment and asset management company operating a network of Burda-branded shopping malls, office buildings, and residential projects across Turkey. The company invests in, develops, and manages commercial properties spanning 18 cities and 1+ million m² of leasable area, while also providing third-party asset management services for additional shopping centers. It complements its physical portfolio with proprietary digital platforms including the Shopla consumer app, Assetify, Visitify, and Project Horizon AI for visitor engagement, predictive analytics, and operational efficiency.

Product overview

Esas Gayrimenkul operates a dual-entity business model: (1) a network of Burda-branded shopping malls (7 owned/developing properties across Turkey, plus 16+ additional managed malls) with over 1 million m² of rentable area and 100+ million annual visitors, and (2) a portfolio of digital platforms including Shopla (consumer mobile app for personalized in-mall engagement and campaigns), Assetify (visitor management and analytics), Visitify (visitor experience management), and Project Horizon (AI-powered predictive analytics platform). EsasLabs serves as the research and insight arm conducting shopper behavior research, demographic studies, and digital maturity benchmarking. The digital products integrate with the physical mall portfolio to drive data-informed asset management, personalized customer engagement, and operational efficiency.

Differentiator

Problem solved

Functional benefit

Brands

• Shopla: AI-powered customer experience platform for shopping centers enabling personalized campaigns and digital engagement
• Assetify
• Visitify
• EsasLabs
• Project Horizon
• Burda Shopping Centers

Products and services

• Burda Shopping Malls Portfolio Chain of owned Burda-branded shopping malls offering retail leasing across 7 owned properties and managing 20+ additional properties, totaling 1+ million m² of leasable area for retail tenants and consumers.
• Esas Aeropark and Esas Plaza Office Buildings Two owned office buildings in Istanbul providing modern, LEED Gold-certified corporate office space with sustainability features and flexible lease terms to corporate tenants.
• Shopla Mobile Application AI-powered customer engagement mobile application for shopping mall visitors, offering personalized campaign notifications, digital receipts, loyalty programs, and promotional campaigns.
• Assetify Digital asset management platform used for managing visitor flows, operations, and analytics across shopping malls to drive stakeholder value creation.
• Visitify Digital platform deployed across shopping malls for visitor experience management and engagement enhancement.
• Project Horizon AI-based predictive analytics platform that leverages historical data to generate forward-looking insights for commercial real estate and retail management decision-making.
• EsasLabs Research and Consumer Insights Research division publishing consumer behavior studies, demographic analysis, and digital maturity benchmarks for the Turkish retail and shopping mall sector.
• Commercial Real Estate Asset Management Services Third-party asset management services for property owners covering leasing, operations, advisory, and portfolio management for shopping malls and commercial real estate across Turkey.
• Residential Projects

Quantifiable outcome

• 72% of common area energy needs met by solar energy systems, targeting 100%
• +6 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core.

• DigitopiacoreStrategic or Co-development Partner · 28 May 2025Collaboration to develop 'AVM ve Perakende Sektörü'nün Dijital Olgunluk Araştırması' (Shopping Mall and Retail Sector Digital Maturity Research) - Turkey's first comprehensive study measuring digital transformation levels across 19 malls and 90 retail companies with over 1,500 data points.
• FutureBright GroupcoreStrategic or Co-development PartnerResearch partnership for consumer insights through EsasLabs initiative. Conducted 'Orta Yaş Türkiye'si ve Perakende' research and provided ongoing customer profiling including Müşteri Laboratuvarı (Customer Laboratory) studies defining six consumer archetypes.
• YANINDAYIZ DerneğicoreStrategic or Co-development PartnerSocial impact partnership under 'Sosyal Değer@Work' project, developing ideas for societal impact in cities where Esas Gayrimenkul operates shopping malls, transforming them into sustainable social value projects.
• Değiştiren Adımlar DerneğicoreStrategic or Co-development PartnerFacilitation partner for Sosyal Değer@Work project, supporting the development of community impact ideas across cities with Esas Gayrimenkul shopping malls.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Multi REIT (Multi GYO): Multi GYO is a Turkish REIT with a portfolio focused on shopping malls and mixed-use retail assets across the country. It competes directly with Esas Gayrimenkul for shopping center tenants in Turkish cities and for third-party management mandates, operating a similar dual model of owned and managed retail real estate.
• Torunlar REIT (Torunlar GYO): Torunlar GYO is the largest publicly listed Turkish shopping mall REIT, operating flagship destinations including Mall of Istanbul, Metrocity, and Marmara Park. It is the most direct competitor to Esas Gayrimenkul in the Turkish retail real estate market, competing for prime tenants, footfall, institutional capital, and third-party asset management mandates.
• Kiler REIT (Kiler GYO): Kiler GYO operates a portfolio of shopping centers across Turkey including İstanbul AVM and regional destinations such as Kiler Bursa AVM. Comparable to Esas Gayrimenkul as a Turkish retail real estate owner-operator with similar exposure to secondary-city malls and the same competitive dynamics for tenants and capital partners.
• REYSAŞ REIT (REYSAŞ GYO): REYSAŞ GYO is a publicly listed Turkish REIT with a portfolio spanning retail, logistics, and office assets across the country. Comparable to Esas Gayrimenkul as a Turkish retail-and-commercial real estate investor and operator with shopping mall exposure, competing on asset acquisition and management mandates.
• Vakıf REIT (Vakıf GYO): Vakıf GYO is one of Turkey's largest REITs operating diverse real estate assets including the Akasya AVM shopping mall in Istanbul. Comparable to Esas Gayrimenkul as a Turkish retail real estate owner-operator pursuing similar institutional investor mandates and managing premium urban shopping destinations.
• İş REIT (İş GYO): İş GYO is a major Turkish REIT with shopping mall investments including co-ownership of Kanyon in Istanbul. Comparable to Esas Gayrimenkul as a Turkish retail real estate investor with similar asset scale, premium mall exposure, and institutional ownership profile.

Broad incumbents

• Hammerson: Hammerson is a UK-based premium shopping center operator with destinations in the UK, France, and Ireland. Comparable as an established European mall operator pursuing premium asset management and digital engagement strategies, similar to Esas Gayrimenkul's stated platform ambitions.
• ECE: ECE is one of Europe's largest shopping center developers and managers with a portfolio across Germany and other European markets. Comparable to Esas Gayrimenkul in mall management expertise, leasing services, and digital transformation strategy, providing a model for European expansion.
• Unibail-Rodamco-Westfield: Unibail-Rodamco-Westfield is the world's largest publicly listed shopping center operator with flagship destinations across Europe and the US. Relevant as a global benchmark for premium shopping center operations, asset management practices, and digital innovation in retail real estate, providing a scale comparison for Esas Gayrimenkul's platform ambitions.
• Klépierre: Klépierre is a leading European shopping center operator with 70+ premium destinations concentrated in continental Europe. Comparable as a European incumbent on mall operating expertise, REIT-style structure, and asset management focus, providing a relevant peer for institutional valuation benchmarking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/esasgayrimenkul
• Facebookfacebook.com/esasgayrimenkul?ref=bookmarks
• LinkedIntr.linkedin.com/company/esas-properties-gayrimenkul
• Instagraminstagram.com/esasgayrimenkul

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Esas Gayrimenkul