Kayseri's Bashyazici Group entered the real estate market in Istanbul with two projects with an investment volume of 70 million Turkish liras. One of the projects is planned to be implemented in the Maltepe area, and the other in Erenkoy.
The number of companies arriving in Istanbul for real estate investment is growing day by day. One of the new participating companies that appeared on the Istanbul real estate market is Bashyazici Group, based in Kayseri. For 65 years, Bashyazici Group has been engaged in the production of many real estate projects in Kayseri. Now the company is trying to expand its boundaries in the real estate sector, and at the first stage it plans to implement two projects with a total cost of 70 million liras in Istanbul.
Mahmut Bashyazicioglu, deputy chairman of the board of directors, notes that the company had previously submitted several projects for consideration in 2007 and 2008, but they were not implemented. According to Bashyazicioglu, the company now has a great deal of experience in implementing projects to transform cities and is ready to enter the real estate market in Istanbul.
Mahmut Bashyazicioglu stated that the company has already started working in Istanbul on two projects of urban transformation in Maltepe and Erenkoy. Moreover, almost 10 percent of the apartments in the project have already been pre-sold.
The price for one square meter in the project is indicated at 5 thousand 500 liras, however the company's representatives warn that after the project is over, prices can be changed up to 8 thousand liras.