Beer sector leader to invest in construction

ISTANBUL - Hürriyet

Anadolu Holdin Chairman Tuncay Özilhan says his group plans to build residences and offices on its own lots. Hürriyet photo

Anadolu Holding, maker of Turkey’s Efes beer, is looking to make use of its valuable land holdings in Istanbul with investments in the construction industry, according to the Turkish magazine Ekonomist.

Anadolu Holding Chairman Tuncay Özilhan told the Ekonomist that AEH Real Estate Investment, a subsidiary of Anadolu Holding, plans to build residences and offices on lots owned by the company in the Kartal district on Istanbul’s Anatolian side.

The holding owns a total of 150,000 square meters of land in Kartal, previously occupied by Anadolu Motor, Anadolu Isuzu and Adel Kalemcilik.

The planned construction projects are estimated to yield roughly 200,000 square meters of properties, Özilhan said.

Anadolu Holding entered the construction business simply to make use of the lots they already own, Özilhan told Ekonomist, adding that construction in Kartal would begin in a year. He did not elaborate on investment costs.

The lot where the Anadolu Efes facility is located in the Merter neighborhood on the European side of Istanbul will also be developed in three or four years, Özilhan said.

The holding’s major areas of activity span the beverage, automotive, finance and retail industries.