Hürriyet Daily reported that leading Turkish iron and steel company İÇDAŞ has decided to invest in the real estate sector, weekly business magazine Ekonomist reported in its most recent issue.
Mr Bayram Yusuf Aslan owner of İÇDAŞ said that the company is converting an old building on Asmalımescit Street in Istanbul’s Beyoglu district into a luxurious residence named Pera Merkez with an invest of USD 4 million.
The 7 story building is situated on 280 square meters on the popular Istanbul street. The first two levels will accommodate a luxury restaurant while the other four will comprise eight residences. The project will be unveiled by the end of year.
Mr Aslan invests in the real estate sector on behalf of Oraysan İnşaat, a subsidiary of Atak Holding. The family owned holding is also the parent of Transoba and Kardemir subsidiaries which operate in different sectors.
Mr Ayhan Aslan board chairman of Atak Holding said that Oraysan İnşaat purchased the building 25 years ago. He is responsible for the company’s real estate investments and is also the CEO of İÇDAŞ.
Mr Aslan said that “This building was known as Merkez Apartmanı. For this reason, we named our project Pera Merkez which means Pera Center. We plan to lease the first two floors to a luxury restaurant chain. We are currently in talks with Istanbul Doors group regarding this matter. A total of eight residences will be on the other four floors. We plan to lease these apartments to foreign groups.”
Mr Aslan family has already completed many housing projects through Oraysan İnşaat since 1989 including 6 story office building in Karaköy, a 12 residence apartment building in Florya, 60 residence apartment complex in Tarabya and the five star Susesi Hotel in Belek of Antalya.
He said that Oraysan İnşaat will also start a new luxury residence project on an area spanning 5.5 hectares in the district of Florya. We plan to start the project within the next six or seven months. This will be an investment worth USD 15 million. We plan to sell one square meter of these apartments for roughly USD 5,000. Each of the apartments will be 200 square meters.
(Sourced from Hurriyet Daily News)
