Yalikavak Palmarina Development

Following our prediction that Yalikavak on Turkey’s Bodrum Peninsula will be the place to holiday in 2014; a recent interview with Mubariz Mansimov, the founder of the Palmali Group that own and built the impressive Palmarina, has revealed that there are more exciting developments on the way…

Mansimov has revealed that his vision is for a $500 million giant tourist complex complete with Yalikavak’s answer to the Champs-Elysees in Paris with sidewalk cafes, restaurants and designer shops. Mansimov has also been in talks with the Dogus Group over in Las Vegas with the hope of bringing Broadway shows to the marina complex. The hope is that Yalikavak’s 100 acre complex will be completed by the end of 2014 and that it will also include a golf course (the first in the area); luxury villas and hotels; and an entertainment centre for children costing $40 million.

The Yalikavak Palmarina development is set to expand with further investment to be completed by 2014

The Yalikavak Palmarina development is set to expand with further investment to be completed by 2014

Mansimov is certainly not short of cash to make these things happen, his family own 65% of the world’s Black Sea oil, making him part of the super-rich set. Investment like this is extremely exciting for a town like Yalikavak and it won’t be long before it takes over from central Bodrum as the coolest place to be on the Peninsula.

The newly developed Yalikavak Palmarina has already made a turnover of £45 million in 5 months

The newly developed Yalikavak Palmarina has already made a turnover of £45 million in 5 months

Yalikavak Palmarina will also make the Bodrum Peninsula easier to access from Greece and Italy with moorings for super-yachts already full. Mansimov hopes that wealthy visitors from America, Marbella, Ibiza and Monaco will bring in even more money to the town. The high speed ferry service from Yalikavak to the Greek Islands will also mean that tourists can take a day trip over to Greece before returning to Yalikavak and enjoying dinner or even a Broadway show on the marina! The marina has already made a turnover of £45 million in just 5 months and the growth of the complex will see this rocket. It is also great news for locals with massive job opportunities and lodgings for 300 staff on the complex.

The Palmarina has many designer shops, restaurants and bars providing plenty of jobs for locals

The Palmarina has many designer shops, restaurants and bars providing plenty of jobs for locals

The great thing about Yalikavak is that despite this huge development the town retains its charm and you can still sit in traditional restaurants by the beach and believe you are in a fishing village, as the town once was. Accommodation in Yalikavak is still very reasonably priced and you can stay within 10 minutes’ of the marina without paying a premium. Yalikavak is still essentially a fantastic family holiday resort but this continued investment means that the town will continue to grow and offer visitors an even more enjoyable holiday experience.

The Palmarina development has already filled its moorings with many super yachts

The Palmarina development has already filled its moorings with many super yachts

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