Elmas Kule

What Elmas Kule does

Elmas Kule is a purpose-built industrial complex for jewelry manufacturing and goldsmithing, located in Yenibosna, Bahçelievler, Istanbul, Turkey. Operated by Mioro Hediyelik Eşya Sanayi ve Ticaret A.Ş. (a subsidiary of the family-owned Gençoğlu Grup founded in 1974), the 75,000 m² facility houses approximately 600 jewelry workshops across three building blocks (A: 1,965 m², B: 2,135 m², C: 756 m²), with modular units ranging from 25 m² micro-workshops for individual artisans to 3,260 m² industrial units for established manufacturers. Core infrastructure includes 4,000 kVA transformers with synchronized generators for 24-hour uninterrupted power, a 400 m² chemical waste treatment facility operated in partnership with Artemis Arıtma, gas washing towers, and advanced security systems including metal detectors, x-ray screening, and 24/7 night-vision camera monitoring.

The company generates revenue through two streams: one-time sales of commercial workshop units and recurring rental of production spaces within the complex. Distribution is exclusively domestic, executed through a physical sales office in Yenibosna and direct enterprise field sales targeting jewelry manufacturers, goldsmiths, and precious metal producers. The complex is strategically positioned 180 meters from Kuyumcukent, Turkey's dominant jewelry industry cluster, and adjacent to the Central Bank of Turkey Group Headquarters, the Istanbul Jewelers Chamber, and the Exporters Union. Elmas Kule has no public listing, no external institutional investors, and remains entirely family-controlled by the Gençoğlu brothers and their descendants. The parent group's broader portfolio includes Mioro, a leading gold chain manufacturer exporting to 30+ countries, and the Starcity Outlet retail center opened in 2010.

Pricing is quote-based and not publicly disclosed; the business model relies on relationship-driven direct sales rather than digital channels. The complex was completed and began deliveries in 2023, with paid-in capital increased to 800,000,000 TL in June 2024 and a new Kuyumcukent branch opened in January 2024. Marketing is concentrated on the company website, organic social media (Instagram, Facebook, LinkedIn), and earned media through major Turkish outlets including Hürriyet, Milliyet, Sabah, NTV, Bloomberg HT, and Capital.

Name

Elmas Kule

Legal name

Mioro Hediyelik Eşya Sanayi ve Ticaret Anonim Şirketi

Website

https://elmaskule.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

1–10 employees

Short description

Elmas Kule operates a 75,000 m² purpose-built jewelry manufacturing complex in Istanbul housing approximately 600 workshops, selling and renting modular production units from 25 m² to 3,260 m² to jewelry manufacturers, goldsmiths, and precious metal artisans under the family-owned Gençoğlu Grup.

Ownership category

akta.pro rank

Product category

Industrial Real Estate for Jewelry Manufacturing

akta.pro primary industry

Warehousing, Distribution & Cold Storage Facility Construction (IMAFADAL)

Keywords

• Jewelry manufacturing facilities
• Industrial workshop spaces
• Precious metals workspace
• Jewelry production real estate
• Micro-workshop units

Headquarters

HQ city

Istanbul

HQ country

Türkiye

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Workshop Unit Sales: Sale of commercial workshop units ranging from 25m² to 500m² to jewelry manufacturers and artisans. Properties can be combined for larger needs. One-time purchase model for ownership of production spaces.
2. Property Rental: Rental of workshop spaces within the 75,000 m² production facility to approximately 600 jewelry workshops.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Elmas Kule operates a 75,000 m² purpose-built jewelry manufacturing complex in Yenibosna, Istanbul, selling and renting modular workshop units (ranging from 25 m² micro-workshops to 3,260 m² industrial units) to jewelry manufacturers and goldsmiths. The facility provides integrated infrastructure including continuous power supply, waste treatment for chemical byproducts, gas filtration, advanced security systems, and climate control, housing approximately 600 jewelry workshops within three building blocks.

Product overview

Elmas Kule is a unified jewelry industry complex consisting of purpose-built micro-workshops and industrial workshop units across three building blocks. The A Block offers 1,965 m² floor areas, B Block provides 2,135 m² of flexible workshop space, and C Block features 756 m² for medium-scale producers. Nano-scale micro-workshops (25–50 m²) and large industrial units (268–3,260 m²) serve craftsmen and manufacturers. The complex integrates production facilities with an advanced waste treatment plant and chemical processing infrastructure. Under the Gençoğlu Grup umbrella, Mioro operates as a separate gold chain manufacturing brand, representing the group's jewelry production heritage dating to Turkey's first gold chain factory in 1983.

Differentiator

Problem solved

Functional benefit

Products and services

• Elmas Kule Micro-Workshops Nano-scale micro-workshops ranging from 25–50 m² designed for individual jewelry artisans, goldsmiths, and small-scale precious metals producers. These units provide modern manufacturing infrastructure within a dedicated industry complex, with options to combine units for larger workspace needs.
• Elmas Kule Industrial Workshops Large-scale industrial workshop units ranging from 268–3,260 m² for established jewelry production companies. Features include 4.15m ceiling heights, 4 generators, 17 elevators (11 freight, 6 personal), integrated waste management systems, wide glass facades for natural daylight, parking for each unit, and accessible floor layouts suitable for both workshop and showroom use.
• Mioro Gold Chain Manufacturing Gold chain manufacturing operations established in 2003 under the Gençoğlu Grup umbrella, producing gold chains for export to over 30 countries. Operates as one of Turkey's leading gold chain manufacturers.

Quantifiable outcome

• Approximately 600 jewelry workshops accommodated in a single modern complex
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Artemis ArıtmacoreTechnology or IntegrationArtemis Arıtma partnership for designing and operating a specialized 400m² waste treatment facility. The facility processes chemical waste including acids and gases generated during gold production, ensuring environmental compliance and preventing infrastructure damage. This is a critical environmental infrastructure partnership for the jewelry manufacturing complex.

Scale indicators8 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Kalyon İnşaat: Major Turkish construction and real estate group active in infrastructure, industrial facilities, and commercial developments. Comparable as a capital-intensive developer of industrial and commercial property in Turkey, though operating across multiple sectors.
• Emlak Konut GYO: Turkey's largest publicly traded real estate investment trust, with broad exposure to residential, commercial, and mixed-use projects. Comparable as a large-scale Turkish real estate operator, though focused on housing-led developments rather than specialized industrial.
• Akfen Holding: Turkish holding company with a significant real estate arm (Akfen GYO) operating commercial real estate across Turkey. Comparable as a Turkish real estate operator of commercial and industrial-grade properties.
• Torunlar GYO: One of Turkey's leading real estate investment trusts (GYO), with a portfolio spanning retail, office, and industrial properties. Relevant as a listed Turkish peer operating commercial and industrial real estate at scale, providing benchmark valuation and operating metrics.
• Rönesans Gayrimenkul: Large Turkish real estate developer with a portfolio of commercial, office, and mixed-use properties. Comparable as a sizable Turkish property developer; differs in scale and vertical specialization.
• Emaar Properties: Major international real estate developer with significant Turkish operations across residential, commercial, and mixed-use developments. Comparable as a large-scale, capital-intensive real estate operator, though without Elmas Kule's jewelry-sector specialization.

Emerging players

• Teknopark İstanbul: Specialized technology park and R&D complex in Istanbul offering purpose-built facilities to technology and R&D tenants. Comparable as a purpose-built specialized industrial/knowledge-work complex with shared infrastructure, though focused on technology rather than jewelry tenants.

Direct peers

• Kuyumcukent: Turkey's largest dedicated jewelry industry complex, located in the same Yenibosna/Güneşli area of Istanbul. Directly competes with Elmas Kule for jewelry manufacturers seeking workshop, showroom, and office space, and defines the jewelry cluster both companies serve.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/elmaskule
• LinkedInlinkedin.com/company/elmaskule
• Instagraminstagram.com/elmaskule

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Elmas Kule