Turkish Sinpas-Kat Consortium Submits Highest Bid For An Istanbul Plot

ANKARA - A Turkish consortium submitted the highest bid for a plot in a neighborhood of Istanbul on Tuesday.
Turkish "Sinpas-Kat Turizm Gayrimenkul Corp." consortium offered 850 million new Turkish liras (YTL) for a coastal plot between Atakoy and Bakirkoy neighborhoods in Istanbul. (One USD is equal to 1,2400 YTL)
The Housing Development Administration of Turkey (TOKI) put the 124,980 square-meter plot to sale with an estimated value of 650 million YTL.
Sinpas-Kat Turizm Gayrimenkul Corp. consortium and Akdeniz Insaat Corp. joined the auction held at TOKI headquarters in Ankara.
Akdeniz Insaat Corp. only offered 845 million YTL in the ninth round, while Sinpas-Kat Turizm Gayrimenkul Corp. submitted the highest bid worth 850 million YTL and became the winner of the auction.
Thus, the auction was technically concluded.
"The winner has to deposit 4 percent of the offer to TOKI`s bank account within two work days, and the tender commission will make and assessment and announce the result," Cagatay Goktayoglu, the deputy chairman of TOKI, said after the auction.
Around 68,000 square meters of 124,980 square-meter plot will be open to public as a green area. There will be a hotel, apartment hotel, marina, yacht club, shopping centers, restaurants, congress hall, health center and entertainment facilities in the rest of the plot.
(BRC-AÖ)
(ECO)