ISTANBUL - "The Sama Dubai, which has won the bidding for the Istanbul Electricity, Tunnel & Trolley Authority`s (IETT) bus terminal plot, will pay the auction bid of 832 million USD in advance," Istanbul Metropolitan Mayor Kadir Topbas said on Wednesday.
Holding a news conference following the auction, Topbas said, "the income from the sale of the plot will be spend to solve the traffic problem of Istanbul. We have similar properties in Istanbul. Our preparatory efforts are under way to sell them."
"Istanbul is becoming the new address of global capital and the new finance center of the world. Today`s sale will bring forward new employment opportunities," he added.
Meanwhile, Sama Dubai Executive Board President Farhan Faraidooni released a statement in which he described Turkey as the cornerstone for their global growth.
"Now, we will concentrate on our Dubai Towers project cost of which we expected to be about 5 billion USD. It will be one of our biggest international projects. We also believe that the sale is a significant step taken to boost our economic ties with Turkey," he said.
Faraidooni added that they would create a unique complex of highest quality offices, a luxury hotel, residences and a special shopping center.
The Sama Dubai was launched in 2004 to consolidate the various mega projects in Dubai. It currently consists of 20 companies in business sectors as diverse as media, healthcare, finance, real estate, energy and education, and has promoted Dubai`s role as an international centre for business, commerce, industry and tourism.
Some of Dubai Holding`s projects are Burj Al Arab, Dubailand, Dubai Internet City, Dubai Media City and the Jumeirah Group.