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Republic of Turkey Prime Ministry Privatization Administration
Privatization of Istanbul Salıpazarı Cruise Port
A Brief Overview
February 2013
Republic of Turkey Prime Ministry Privatization Administration
Disclaimer
2
The information contained in this presentation has been obtained from public sources, accuracy or completeness of the
information is not warranted by the author. Neither Burgan Yatırım Menkul Değerler A.Ş. / MAG Mühendislik Hizmetleri ve Ticaret
Ltd. Şti. / İşmen Hukuk Bürosu Consortium (“Advisor”), the Privatisation Administration of Turkey (“PA”) and Türkiye Denizcilik
İşletmeleri A.Ş. (“TDİ”) or any other institution or organisation has made any declarations or warranties concerning the
information in this document, nor do they accept any responsibility due to any information provided herein.
This presentation should not be construed, under any circumstances, as a solicitation to purchase or sell any asset, or as an
invitation in participation of a tender or a document prepared for the pre-signing phase of any agreement for any particular
recipient. Any recipient of this presentation is solely responsible for all risks arising from the use of the information provided in
this presentation.
Republic of Turkey Prime Ministry Privatization Administration
Cruise Sector: An Overview
Primary Cruise Regions
Market Share of Cruise Regions
• Tourism industry is one of the fastest growing segments of the
global economy and cruise sector is one of the fastest growing
sub-segments of this industry.
• Global sales revenue of the cruise industry has reached 29
billion dollars* in the year 2011.
• Today, the leading cruise destination is the Caribbean with a
market share of 40% in terms of number of passengers, followed
by the Mediterranean region with a market share of 21%.
• The Mediterranean region has shown the fastest improvement in
terms of market share and continues to show strong growth.
• The biggest cruise port among the Mediterranean itineraries has
been Port of Barcelona of Spain followed by Ports of
Civitavecchia, Naples and Venice of Italy.
• Istanbul Salıpazarı Cruise Port with an annual passenger traffic
of over 600,000 is one of the top 10 ports in Europe in terms of
number of passengers.
* Estimated sales revenue of cruise operators in 2011.
3
Caribbean
Asia / Pacific
North Europe
Mediterranean
1 2
4
5
Caribbean
Asia / Pacific
North Europe
Mediterranean
1 2
3
4
2005 2006 2007 2008 2009 2010 2011
Caribbean 48.0% 46.4% 43.5% 39.9% 39.5% 40.7% 40.4%
Mediterranean 15.3% 16.5% 18.9% 21.5% 20.9% 20.0% 21.0%
North Europe 5.0% 5.3% 5.1% 5.8% 6.3% 7.3% 8.3%
Asia/Pacif ic 4.3% 5.6% 6.2% 6.7% 6.0% 7.1% 5.8%
Other 27.4% 26.2% 26.3% 26.1% 27.3% 24.9% 24.5%
Total 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Republic of Turkey Prime Ministry Privatization Administration
Cruise Sector: Worldwide
Number of Worldwide Cruise Passengers (in millions) • Number of cruise passengers has attained a
6.7% CAGR between 1998 and 2011
worldwide.
• As of 2011, there were 270 ships in operation
worldwide with a total passenger capacity of
18.0 million.
• Worldwide cruise fleet is expected to reach 285
ships with a total passenger capacity of 20.3
million by 2015.
• The largest 4 cruise line operators account for
almost 86% of the world cruise market.
Global Market Share of Major Cruise Operators - 2011
4
Carnival – Carnival Corporation
RCCL – Royal Caribbean International Cruise Lines
NCL – Norwegian Cruise Lines
MSC – Mediterranean Shipping Company Cruise Lines
Worldwide Cruise Fleet (number of ships)
Republic of Turkey Prime Ministry Privatization Administration
Cruise Sector: Europe
Market Share of Cruise Operators in Europe - 2011
Number of European Cruise Passengers (in millions)
European Cruise Fleet (number of ships)
• Number of cruise passengers in Europe has
increased by 8% CAGR between 1998 and
2011, well-above the world average.
• European cruise fleet is expected to increase to
115 ships reaching a passenger capacity of 5.9
million by 2015.
• Carnival Corporation, MSC Cruises and Royal
Caribbean Cruise Lines account for 78% of the
European cruise market.
5
Republic of Turkey Prime Ministry Privatization Administration
Cruise Sector: Turkey
Number of ships and passengers visiting Turkey • Number of cruise passengers arriving at
Turkish cruise ports has increased by 23%
CAGR between 2002 and 2011.
• Number of cruise ships arriving at Turkish
ports, on the other hand, has grown by 8%
CAGR during the same period.
• According to 2011 statistics, Istanbul Salıpazarı
Cruise port had the second highest market
share of 26% among Turkish cruise ports.
PAX Count # of cruise ships
Shares of Major Ports in Turkey Cruise Sector* Number of cruise ships and passengers visiting major ports in Turkey
6
Ships Pax Ships Pax Ships Pax Ships Pax Ships Pax Ships Pax Ships Pax Ships Pax
Kuşadası 348 221,417 441 301,105 471 368,696 613 466,677 601 518,872 506 462,746 517 493,911 568 662,456
İstanbul 141 114,390 202 176,768 306 273,553 340 422,896 404 489,544 313 476,541 342 508,246 420 627,897
İzmir 33 75,934 39 66,285 105 184,797 122 287,357 133 318,451 129 315,454 159 378,266 262 493,533
Marmaris 74 74,753 97 83,094 83 65,265 64 60,039 70 101,874 74 81,472 84 146,531 84 170,021
Bodrum 79 33,231 55 8,921 66 10,478 63 9,892 126 52,862 87 38,414 89 31,700 82 46,031
2008 20112009 2010
Port
2004 2005 2006 2007
*in terms of ships berthed
Republic of Turkey Prime Ministry Privatization Administration
Number of Passengers Visiting Salıpazarı Port
Number of Cruise Ships Visiting Salıpazarı Port • Salıpazarı Cruise Port is the only operating cruise port of
Istanbul.
• Salıpazarı Cruise Port is one of the major destinations preferred
by the major cruise liners, as a result the port is among the top
10 mostly preferred ports in the Mediterranean Region.
• Salıpazarı Cruise Port served more than 600,000 tourists as the
entrance gate to Turkey in 2011.
• Salıpazarı Cruise Port’s proximity to touristic and cultural
locations such as Historical Peninsula, Beyoglu, Istiklal Avenue,
and Galata Tower is one of the important reasons leading the
Port to be one of the mostly preferred destinations by the cruise
tourists.
• Current condition of the Port and neighbouring area is expected
to be improved after the privatisation tender, which will also
expected to increase its sociocultural and economical
contribution to the country significantly.
• As a result of its unique location and the expected improvement
projects, Salıpazarı Cruise Port bears high potential to add value
not only to the tourism sector, but also may become to be one of
the major emergency exit point of the Istanbul metropolis.
Istanbul Cruise Tourism: Salıpazarı Cruise Port
7
Republic of Turkey Prime Ministry Privatization Administration
Istanbul: A Tourism Capital
Istanbul;
• is among the top 10 most visited cities in the world
Over 8 million tourists in 2011
• has more than 25% share in Turkey’s total tourism income
Over 4.5 billion dollars of direct tourism income in 2011.Total tourism expenditures is calculated to be about 10 billion dollars.
• is host to important events such as;
2010 European Culture Capital
2010 World Basketball Championship
2012 European Capital of Sport
2012 AAF World Indoor Championships
Turkish Airlines Euroleague Final Four 2012
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Republic of Turkey Prime Ministry Privatization Administration
Istanbul Salıpazarı Cruise Port: The Only Cruise Port of Istanbul
• Istanbul Salıpazarı Cruise Port is included in
itineraries of leading cruise operators such as:
Carnival Corporation
Royal Caribbean Lines
MSC Cruises
• Over 2,300 cruise and passenger ships and
almost 3 million tourists have visited the Port
between 2005 and 2011.
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Republic of Turkey Prime Ministry Privatization Administration
Istanbul Salıpazarı Cruise Port: Current Status
• 100,280 m2 land area
• 131,821 m2 construction area
• 1,115 m long quay comprising of
Karakoy quay:
515 m
6-8 m water depth
Salıpazarı quay:
600 m
8-10 m water depth
Headquarters
Terminal Building
Cinilihan Building
Warehouse #20
H Block
Shops Block
HQ
T
ÇH
20
H
4
3
2
1
7
6
S
5
Warehouse #1
Warehouse #2
Warehouse #3
Warehouse #4 (Istanbul Modern Museum)
Warehouse #5
Warehouse #6
Warehouse #7
HQ
T
ÇH
20 H
4 3 2 1
7 6 S
5
Buildings
10
Republic of Turkey Prime Ministry Privatization Administration
• Project area has been declared as,
An “Urban Protected Area” by the Istanbul Cultural and Natural Heritage Preservation Board,
A “Tourism Centre” by Counsel of Ministers
• Project area is located at the heart of a historical neighbourhood, surrounded by Tophane Fountain, Nusretiye Clock Tower,
Nusretiye Mosque and Kılıç Ali Paşa Mosque Complex, Nusretiye Summer Palace and Çifte Saraylar Palace (Mimar Sinan
University).
Tophane Fountain Kılıç Ali Paşa Mosque Complex
Nusretiye Summer Palace
Istanbul Salıpazarı Cruise Port: Location and Historical Texture
Nusretiye Mosque
Nusretiye Clock Tower
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Republic of Turkey Prime Ministry Privatization Administration
Istanbul Salıpazarı Cruise Port: Buildings – Salıpazarı Quay
• Building: Warehouses #1-2-3-4
• Total Area: 7,952 m2
• Floor Area: 4,102 m2
• Number of Floors: 2
• Building Height: 11.65 m
• Current Use:
Warehouses #1-2 – Terminals
Warehouse #3 – Depot
Warehouse #4 – leased to Istanbul
Modern Museum Foundation for 28
years as per Privatisation High
Council’s decision dated 03/07/07.
• Building: Warehouse #5
• Total Area: 21,177 m2
• Floor Area: 4,023 m2
• Number of Floors: 5-6
• Building Height: 23.1 m
• Current Use: leased to Mimar
Sinan University for 28 years as
per Privatisation High Council’s
decision dated 11/05/12 .
• Building: Warehouse #6
• Total Area: 20,895 m2
• Floor Area: 3,968 m2
• Number of Floors: 5-6
• Building Height: 23.1 m
• Current Use: Depot
• Building: Warehouse #7
• Total Area: 16,272 m2
• Floor Area: 3,043 m2
• Number of Floors: 5-6
• Building Height: 23.1 m
• Current Use: Depot + Office of
Directorate of General of Coastal
Safety
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Republic of Turkey Prime Ministry Privatization Administration
Istanbul Salıpazarı Cruise Port: Buildings – Karakoy Quay
• Building: Headquarters
• Total Area: 5,627 m2
• Floor Area: 857 m2
• Number of Floors: 6
• Building Height: 28.6 m
• Current Use: Headquarters of
Turkey Maritime Organization
• Decree of Istanbul Cultural and
Natural Heritage Preservation
Board: Second-degree registered
building
• Building: Terminal Building
• Total Area: 7,552 m2
• Floor Area: 2,195 m2
• Number of Floors: 5
• Building Height: 10.5 m
• Current Use: Main Passenger
Terminal
• Decree of Istanbul Cultural and
Natural Heritage Preservation
Board: Second-degree registered
building
• Building: Çinili Han (Tiled Inn)
• Total Area: 4,770 m2
• Floor Area: 785 m2
• Number of Floors: 6
• Building Height: 24.8 m
• Current Use: Customs Bureau
• Decree of Istanbul Cultural and
Natural Heritage Preservation
Board: Second-degree registered
building
• Building: Postal Package Building
• Total Area: 10,606 m2
• Floor Area: 5,428 m2
• Number of Floors: 2
• Building Height: 9.95 m
• Current Use: Various
• Decree of Istanbul Cultural and
Natural Heritage Preservation
Board: Second-degree registered
building
13
Republic of Turkey Prime Ministry Privatization Administration
• Building: Warehouse #20
• Total Area: 6,412 m2
• Floor Area: 3,065 m2
• Number of Floors: 2
• Building Height 10.5 m
• Current Use: Various
• Decree of Istanbul Cultural and
Natural Heritage Preservation
Board: No need for registration
Istanbul Salıpazarı Cruise Port: Buildings – Karakoy Quay
14
Republic of Turkey Prime Ministry Privatization Administration
New zoning plan aims to meet improvement requirements. According to expert report;
• Quays have to be strengthen in order to become resistant to the potential earthquakes and in compliant with
the current earthquake regulations
• If strengthening projects are executed to have the quays resistant against certain level of earthquakes,
Salıpazarı Port may serve as an emergency logistics centre for the city with the purpose of the distribution of
medicines, excavation of residents, supply of goods and food to the European side of the city due to its
proximity to residential districts,
• In conclusion, Karakoy and Salıpazarı Quays have to supported with a piled quay with a minimum 10 metres,
which will increase the quays’ resistance against potential weights of horizontal and rotational forces, as the
existing quays have collapses between the quay blocks, interruption of racks that connects blocks caused
during natural gas pipeline installation works, and as the historical buildings are under-protected against
potential earthquake forces and bear collision risk towards sea.
Salıpazarı and Karakoy Quays’ Current Situation: Necessity of Strengthening
Shelter harbour Salıpazarı quay piles Karakoy quay
ITU* Report
ITU’s fundamental recommendation: piled quay construction with minimum 10 meter width to strengthen the quays
If executed, port may serve as a point of exit in the case of potential disaster
Karakoy quay
15
(*) ITU: Istanbul Technical University
Republic of Turkey Prime Ministry Privatization Administration
The Golden Horn Metro Pass, Pedestrian Bridge Construction
Tophane Square Reorganization
D’aranco Mosque Restitution Restoration Project
Kabataş Square ve Port Buildings Construction
Haliç Dock Restoration Project
Balık Pazarı Reorganization
Galata Square Reorganization
Bankalar Caddesi Reorganization
Zoning Plan’s Basic Objective: Integration of Beyoglu with Cruise Port.
16
12
3
1
7 18
15
10 6 5
2
4
17
8
13
9
14
11
19
20
21
15
10 Tarlabaşı Regeneration Project
17
12
1 Elif Efendi Dervish Lodge Restoration Construction
2 Kalaycıbahçe Square Reorganization
3 Historic Okmeydanı 1. Stage Protection Project
4 Ağaçlaraltı Square Reorganization
16
5 Kulaksız Square Reorganization
6 Kızılay Square Reorganization
7 Bahriye Square Reorganization Construction
8 Dolapdere Square Reorganization
9 Talimhane
18
11
13
14
19 Şişhane Urban Transformation
20 Cihangir Urban Transformation
21 Fransız Sokağı Urban Transformation
• Integration of the port area to Beyoglu District’s sociocultural and historic texture is also aimed with the new zoning plan
16
Republic of Turkey Prime Ministry Privatization Administration
Planning Area
•Total Zoning Plan Area:
100,280 m2 + 11,867 m2 (reclamation area) = 112,147 m2
•Cruise Port Area: 85,208 m2
•Roads: 892 m2
•Recreation Area: 13,941 m2
•Sociocultural Facility Area: 12,107 m2
Cruise Port Zoning Area Construction Constraints
•Floor area ratio: 1.50
•hmax :
Region A : 15.50 m
Region B : 18.50 m
Warehouse #20 :12.50 m
•Maximum construction area: 85,208 x 1.50 = 127,811 m2
•Registered historic buildings: 28,555 m2
•Maximum possible construction area: 99,256 m2
Salıpazarı Cruise Port: New Zoning Plan and Its Constraints
Headquarters
Terminal Building
Cinilihan Building
Warehouse #20
H Block
Shops Block
4
3
2
1
7
6
5
Warehouse #1
Warehouse #2
Warehouse #3
Warehouse #4 (Istanbul Modern Museum)
Warehouse #5 (Mimar Sinan Uni.)
Warehouse #6
Warehouse #7
HQ TB
CB
20 HB
4 3 2 1
7 6 SB 5
Definitions
Registered historic building
Sociocultural builng
Building, may be demolished & rebuilt
Buildings
Recreation area
Sociocutural Building Area
Cruise port Region A
Cruise port Region B
Reclamation Area
1
Building incompliant with the zoning plan
HQ
TB
CB
20
HB
SB
17
Republic of Turkey Prime Ministry Privatization Administration
Project Goals and Contemplated Timeline
PORT
CRUISE TOURISM
ZONING PLAN
TIMELINE
1/5000 and 1/1000 scaled Zoning Plans prepared by PA and approved by the Privatisation High Council by
the decision dated October 22, 2012, are submitted to Istanbul Metropolitan Municipality of which public
review procedures are completed in January 2013. The privatization tender is launched upon the tender
announcement published in February 2013.
18
İstanbul Salıpazarı Cruise Port, which is the most important port in Turkey and the sole operating cruise port
of İstanbul, is aimed to be a prestigious port operated pursuant to the requirements of modern port sector
and to increase the tourist potential of İstanbul by highlighting the background historical and natural
values,and this way become a port which increases the tourism incomes of our country
It is targeted to make İstanbul Salıpazarı Cruise Port one of the most important destinations by improving
the services to international standards and to increase the number of tourists visiting our country and to
increase the contribution of the Port to tourism incomes.
Zoning plan is aimed to enable public access to the project area and to the historical and the new buildings
to be developed within. The zoning plan is expected to enrich and provide opportunity to restore the historic
buildings and monuments within the area. The zoning plan will not only provide access to the project area
but also opportunity for the surrounding to be developed and increase contribution to the economy
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