Worth 250 million Turkish lira (70 million$ ), a new project had been announced by two companies, one Turkish and one Saudi-Turkish in Kartal in Istanbul.
The project is a residential complex spread on 12,000 square meters of land. The complex consists of three 15-storey buildings surrounded by gardens with pools, cafes, and shops.
This project overlooks the Sea of Marmara and the Princess Islands, 1,700 meters from the coast and 17 km from Sabiha Airport, and it offers a 24-months installment plan with zero interest.
The director of the Turkish-Saudi construction company, Mr. Olash said in a speech that there is a growing demand in Kartal because of its distinguished location as it contains a lot of commercial and medical facilities.
On the other hand, the director of sales in Kartal project Mr. Ozfar said that there is a growing demand by the Saudis for real estate investment in Turkey, and have been signed joint protocols between the two countries in this regard.
Economists have predicted a return to the booming real estate sector in Turkey and a significant contribution of foreign investment in this area.