Emlak Konut GYO, Turkey’s largest real estate investment company, continues its revenue-sharing auctions without slowing down. The company, which launched one after another tender attack in various districts of Istanbul, finally realized the Atasehir tender. Billions flew in the air in the tender, in which the leading companies of the sector participated to develop projects. The highest offer came from DAP Real Estate Development.
11 COMPANIES COMPETED
DAP Real Estate Development won the tender, in which 11 firms competed fiercely, offering 40% land share, ie ₺894 million 600 thousand, to Emlak Konut over ₺2 billion 236 million 500 thousand of sales revenue. The company will be able to build 13,111 square meters with residential functions on a 7 thousand 492 square meter plot in Atasehir Kucukbakkalkoy. Saying that Atasehir has been the center of attention of the business world in recent years, DAP Real Estate Development Chairman of the Board Ziya Yilmaz said, “The employees in the region prefer to live in the city center and be in touch with nature. We will carry our ‘healthy home’ concept to Atasehir with new and industry-leading touches. We know the demands of the region and we aim to develop a project accordingly.”
INVESTMENTS CONTINUE
Yilmaz continued as follows: “We have considered all the projects we have implemented so far as works of art. We are, so to speak, rendering the window of the city like a painting. We believe in the power of Turkey and we continue our investments without slowing down.”
WHICH COMPANY BID WHAT?
Ozak GYO: ₺1 billion 412 million 250 thousand
Dag Engineering: ₺1 billion 322 million
Yuksekdag Real Estate and Nida Joint Venture: ₺1 billion 255 million
Esbah Yapi: ₺1 billion 146 million 46 thousand
Kiler REIT and Biskon Yapı Joint Venture: ₺1 billion 130 million
Fortis Real Estate: ₺1 billion 125 million
Ege Yapi and Ric Real Estate Joint Venture: ₺1 billion 65 million
Misek Construction: ₺920 million
Cakir Insaat ve Oguzata Architect. Joint Venture: ₺915 million
Kardelen and Durmaz Joint Venture: Withdrawn in the 3rd round.
Source: Sabah / Translated by Irem Yildiz
