Turkish developer bids 1bn lira for land in Istanbul

Thursday, May 15, 2014

Housing developer Emlak Konut offers Privatization Authority just over 1 billion lira for 58,000 square meters of land near Borsa Istanbul

Housing developer Emlak Konut offers Privatization Authority just over 1 billion lira for 58,000 square meters of land near Borsa Istanbul

ANKARA - Developer Emlak Konut has offered Turkey's Privatization Authority just over 1 billion Turkish lira (US$482 million) for 58,000 square meters of land in Istanbul.

Emlak Konut GYO, a subsidiary of the Housing Development Administration of Turkey - the country's largest housing developer - put in a bid for the land near the headquarters of the Borsa Istanbul in Istinye on Thursday.

The company offered to pay 1.005 billion Turkish lira.

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