Ağaoğlu places top bid for finance center

ISTANBUL - Hürriyet Daily News

The Anatolia side plot seen above will host Istanbul’s new finance center.

Ağaoğlu, a rising company in the local construction sector, will build a 2,500-seat conference hall, a mall, a five-star hotel, office buildings and residences as part of a tender regarding the planned Istanbul Finance Center.

Akdeniz İnşaat, a subsidiary of Ağaoğlu, won the recreation area tender issued Nov. 28 by state-run Emlak Real Estate Investment Company with the higher bid, 1.46 billion Turkish Liras. The project includes all infrastructure development including excavation work, connection roads, parking garages, technical stations, a subway station and landscaping. However, the contractor will assume these minor development works free of charge, according to daily Hürriyet. The first round of the tender, held Aug. 31, was canceled due to lack of competitive conditions. In the second round in early November only two bids were placed, the other one being 1.2 billion liras from the GAP-Varyap construction joint venture.