Rönesans' 12 shopping centres across 7 provinces are fully prepared for potential earthquakes!
During the aftermath of the 6 February 2023 earthquakes centred in Kahramanmaraş, Rönesans Gayrimenkul's shopping centre, which effectively functioned as an earthquake coordination hub, initiated a significant new strategy. Rönesans Gayrimenkul's CEO, Yağmur Yaşar, stated, “Today, in our 12 shopping centres across 7 provinces, we maintain containers fully prepared for emergencies. These containers are equipped with everything from satellite phones to lighting towers.”We Provide Services in Earthquake-Safe Areas Spanning 9 Million Square Meters
Rönesans Gayrimenkul's 12 shopping centres, located in İstanbul, Ankara, İzmir, Adana, Kahramanmaraş, Şanlıurfa, and Samsun, are fully equipped to handle emergency situations caused by earthquakes. During the aftermath of the earthquakes, which occurred on 6 February 2023, Rönesans Gayrimenkul temporarily converted its shopping centre in Kahramanmaraş into both a soup kitchen and a relief distribution centre and has since become even more prepared for future disasters. In case of an emergency, necessary supplies have been stocked at all the 12 shopping centres.Yağmur Yaşar, CEO of Rönesans Gayrimenkul Yatırım AŞ (RGY), emphasised that they not only contribute to the social and economic life of the country but also play a vital role during emergencies. Yaşar noted that the shopping centres receive 110 million visitors annually, adding that they have a responsibility to all these people. Yaşar remarked, “Through our construction projects abroad, we have become one of the key representatives of Turkish engineering globally. We are proud to offer services in earthquake-safe buildings across 9 million square metres within Türkiye.” He added, "We continue to maintain investments and construction projects in 10 of the 11 provinces affected by the 6 February earthquakes. We have over 200 buildings in the region, all of which remain in excellent condition without any structural damage. A fault line passed in front of our shopping centre in Kahramanmaraş, but it sustained zero damage and was subsequently used as an earthquake coordination centre.”
Providing Meals To 1 Million People Following The Earthquake
Speaking about their experiences during the aftermath of the earthquakes in Kahramanmaraş, Yaşar shared, “All the surrounding buildings had collapsed. Thanks to the incredible efforts of our employees, we set up tents and containers in the open car park of the shopping centre. Immediately after, we established a mobile kitchen. At Kahramanmaraş Piazza, we provided meals to 5,000-10,000 people daily, and in total, we served 1 million people across our construction sites and coordination centres in Malatya, Kahramanmaraş, and Gaziantep. We also coordinated relief efforts through AFAD, and our staff located at other shopping centres in various cities collected and sorted aid. The message from the Mayor of Kahramanmaraş, stating, ‘We thank you for turning the disaster of the century into the single most important example of solidarity of the century,' was incredibly meaningful to us. Ultimately, the shopping centres became vital social hubs providing unity and support. We didn't just open our shopping centres; we also opened all our construction sites in the region, as well as Malatya Erman Ilıcak Science High School, to citizens affected by the earthquake. By the first night, we could provide accommodation to over 4,000 people.Based on these experiences, Yaşar emphasised that they had made crucial new decisions, recognising their critical role during the earthquakes. He said, "In these 7 provinces, we serve the public with our Optimum, Hilltown, and Piazza shopping centres, as well as Maltepe Park and Kozzy. In some provinces, we are the only shopping centre in the area. Today, in our shopping centres, we have containers prepared for emergencies. These containers hold satellite phones, lighting towers, and instructions on which store shelves to retrieve products from in case forced access is required. Our job is to essentially manage people because our shopping centres receive 110 million visitors annually.”
Securing €30 Million In Financing from THE EBRD
Yaşar also mentioned that Rönesans had recently secured €30 million in long-term financing from the European Bank for Reconstruction and Development (EBRD) as part of a programme to support regions affected by the 6 February earthquakes. He said, "The financing, supported by an EU guarantee, aims to protect the local population's livelihoods. The loan will provide support to the Piazza Shopping Centres in Kahramanmaraş and Şanlıurfa. It is also expected to benefit skill development programmes for women, handicraft production training, and sales training for shopping centre tenants.”Focus on productive tenant relations and sustainability
Yaşar further explained that Rönesans works towards achieving not only its own success but also that of its tenants in the shopping centres. “Our success in selecting tenants who align with our target audience and concept plays a key role. We carefully evaluate all tenants and continue to work with those we believe will contribute to the existing brand portfolio. We place an emphasis on working with international chain brands, which allows for the sustainable management of commercial real estate. We continuously monitor tenant performance and encourage them to take action when turnover is low. For tenants facing a decline in revenue, we initiate proactive communication to identify the underlying issue and collaborate to find effective solutions. Rönesans Holding employs over 32,000 people from 64 different nationalities. Contributing to society and the world is a vital duty for us. Our focus is on furthering tenant relations and sustainability.Closed the first 6 months of the year with a profit of 5.3 billion TL
Yaşar highlighted that RGY is Rönesans Holding's commercial real estate development and investment company, stating, “In our shareholding structure, Singapore's GIC holds 17.84% in partnership with Rönesans Group. As of 30 June 2024, we hold a real estate portfolio valued at 107.7 billion TL, comprising 16 assets. We closed the first six months of the year with a net profit of 5.3 billion TL, adjusted for inflation. While our operational revenues and asset valuations increased in the first half of the year, our debt ratio decreased. Supported by proceeds from the public offering, our leverage ratio dropped below 18%, and our credit rating, upgraded by Fitch, has significantly strengthened our position in the sector. Due to our strong retail revenues, our low Occupancy Cost Ratio (OCR), which offers significant growth potential, is also notable.”Source: Handan Sema Ceylan / Nasıl Bir Ekonomi