Emaar Turkey buys 73.571sqm land for USD 402m
20 February 2008
Emaar Turkiye, formed June 2006 by real estate agency Emaar Properties PJSC to make future investments in Turkey, has bought 73,571 square meters of land in Istanbul's Libadiye district for USD 402,70 million. The land, situated near Uskudar on Istanbul's Asian side was owned by Toprak Group.
"Turkey is a crucial market for Emaar, and we aim to achieve important leaps with different projects in Turkey," said Dr Nader Mohammed, Emaar International Region Director. “The land we bought will be an opportunity for the long-lasting and powerful investments we want to make in Turkey. Moreover, as parallel to our projects across the world, it will facilitate us to introduce the projects of high added value in real estate investment to the Turkish people,” he added