Turkish firm to invest $200 mln in Macedonia

ISTANBUL- Hürriyet Daily News

Skopje, the capital city of Macedonia, is expecting more than $200 million of investment from Limak, a local holding.

Turkey’s Limak Holding, active in tourism, energy, cement, technology, construction and harbor operations, is preparing to invest over $200 million in central Skopje to construct a massive residential, shopping and office building project, the firm’s top executive said yesterday.

“We have bought a large plot of land in the center of Skopje through the privatization of Macedonian state holdings,” Serdar Bacaksız said, speaking to Hürriyet Daily News in a phone interview. He said that Limak has acquired a 40,000 square meter plot of land in Skopje to begin construction of residences, a shopping mall and office buildings. “We plan to invest over $200 million in the project,” he said, noting that the plot of land in the city center was acquired from the Macedonian government for $8. “We are planning the buildings currently and will start construction soon,” Bacaksız said.

Bacaksız went on to say that Limak is confident about its growth strategy in the Balkans. Turkish-French consortium Limak Airport de Lyon MAS officially assumed full responsibility for operation of Kosovo-Pristina International Airport last April. Limak has the right to manage the airport, the only one in Kosovo, for the next 20 years, and has taken on responsibility for modernizing its infrastructure, a project that will cost nearly 100 million euros to complete.