Property Firm in New Investment

Noting that real estate has been a rising star in Turkey for the last 25 years, he said that shopping centers have constituted another attraction in the real estate sector in recent years. “We expect the investments to increase. According to analysts, the investment amount of the projects announced by foreigners in Turkey exceeds $10 billion.” Akiş aims to continue its expertise in shopping and life center development, noted Akiş Managing Director Gökşin Durusoy. “In order to progress toward this goal more rapidly, we restructured awhile ago our real estate investment and development portfolio.” Noting that the finn expects to invest $220 million for Akbah, Durusoy said that the project is expected to draw elites to the region swiftly. Alize Dinçkök Eyüboğlu, board member and sales and marketing manager of Akiş, informed on what the project offers for people. “Those who own apartments in Akbah will see very high life standards. They will have a chance to lead a nature-friendly, peaceful and blissful life. Besides, we offer them an environment with every detail considered beforehand for their comfort and security.” The apartments offer special features such as sound isolation, alarm and monitoring systems. Akbah will include around 300 stores, nine theaters, restaurants with various world kitchens as well as playground and training spaces for children, said Eyüboğlu. The turnkey in Akbati is expected to start in 2011, while the shopping center is likely to open doors for visitors in the same year. Akkök Group is the creator of the Akmerkez Shopping Center on Istanbul’s European side and the Akasya project on Anatolian side of the city.

AKİS YATIRIM LAUNCHES ‘LIFE CENTER’ PROJECT FOR $220 MLN
Akiş Gayrimenkul Yatırımı, a subsidiary of Turkey’s Akkök Group, is launching its new project in Istanbul’s EsenyurtBahçeşehir area with an investment cost of $220 million. The Akbati Life and Shopping Center consists of 348 residences and common living areas and social facilities rising over one of the largest and most modern shopping malls of Istanbul, the firm said yesterday in a press release. The residences, whose sizes range between 67 and 571 square meters, are offered at prices starting from 186,000 liras. Speaking at the meeting held at the Four Seasons Bosphorus to introduce the project to press members, Akkök Board Member and Akiş Chairman Raif Ali Dinçkök said that the group adopted real estate as one of its main business lines within the framework of the strategic vision it designated in 2005. “Akiş is involved in projects with a construction area of 1.2 million square meters at present.” said Dinçkök.