ISTANBUL - The bidding for the Istanbul Electricity, Tunnel & Trolley Authority`s (IETT) bus terminal plot of 46,241 square meters in Levent district of Istanbul has begun.
Seven out of the nineteen companies are bidding for the IETT bus terminal plot tender that has started at 13.00 local time at the conference hall of the Istanbul Municipality Directorate of Youth & Sports.
Three companies making the highest offers will join the public auction, and the new owner of the plot will be chosen among them.
The estimated price of the plot is 265 million new Turkish liras (YTL), plus the Value Added Tax (VAT) (One dollar equals 1.44 YTL).
The 46,241 square-meter terminal plot has a tourism and trade licence. The new owner can construct a building as high as she/he wants, but the total construction area could not exceed 238,000 square meters. 138,000 square meters of it will be above and 100,000 will be under the ground (three floors), excluding the parking area.