Turkish firm wins Portuguese port operation tender with consortium

ISTANBUL

A consortium of three Turkish firms has won a giant plot of land in Istanbul’s Zeytinburnu district, sold by Turkey’s largest housing developer, Emlak GYO.

The new owner of the 111,000-square meter land in the Kazlıçeşme neighborhood is a joint venture of Özak-Yenigün-Delta, which placed the highest offer of 4.24 billion Turkish Liras during the tender, held on Jan. 16.

Emlak Konut real estate investment trust (REIT) announced it would receive 37 percent of the tender amount, which corresponds to 1.568 billion liras.

The first session of the tender was held last month, and the joint venture of Aşçıoğlu İnşaat-Nokta Yatırım placed the highest bid with 1.8 billion liras.

Emlak Konut CEO Murat Kurum has said the land is the largest area available in Istanbul suitable for project development.

“We can say that this tender received the highest bid in Emlak GYO’s history,” Kurum also noted, claiming that the tender “indicates investors’ trust in the country’s economy, stability and construction sector.”

The project has commercial and residential areas, and may include shopping malls and business centers, as well as cultural and social facilities.