Factors that affect development of office regions Tepeustu region

Due to the its unique features Grade A office investment is accepted as one of the most difficult real estate investment types. The source of income in Grade A office projects, corporates, operating as tenant or end user are known with detailed decision making process' which occur a very competitive market for real estate developers. In addition, these type of end-users are expecting international standards to improve the efficiency of its operations. Grade A office investments include some financial obstacles because of preferrence of corporates to operate in offices as tenant rather than being owner, which occur the need of long-term funds for real estate development sectors. Today, Tepeüstü region is the fast growing part of İstanbul according to retail, residential and especially office developments. In a very short period, Tepeüstü region has become an important office market. In this study, the grade A office concept and definiton, historical development of office buildings and general features of Grade A office building have been discussed. Also, the Tepeüstü region is established generally by giving information about its history, demography and present situation. Moreover, current office stock have been sorted out and Tepeüstü's potential and improvement opportunities have been mentioned in this study. The regional development of Tepeüstü is shown by the help of maps and photos addition to the facts which are effective for the formation of office and other buildings are explained. On the other hand, it is been studied to mention the impacts of strategic decision making process of developers and end-users. This academic thesis aims to analyse the development of Tepeüstü as Grade A office region with factors affecting. As conclusion, it is aimed to present beneficial recommendations to real estate developers and investors that will invest in office type real estate investments.