ISTANBUL (AA) - Luxurious chain of hotels company Kempinski and ASTAS Real Estate Inc. joined forces to build two 27-storey 'smart' towers composed of luxurious residences and offices in Istanbul.
The construction of the towers which has started in Esentepe in Mecidiyekoy district of Istanbul, is expected to be completed on the first half of 2007 and the project will cost approximately 100 million dollars, including the price of land.
ASTAS Executive Board President Vedat Asci told a news conference on Tuesday that ''many foreign investors prefer Istanbul and they need good residences.''
Asci stated that there would be 128 luxurious residences (to be sold), 40 luxurious apartments (for rent), 40 luxurious offices, one mall having 120 shops and one parking lot for 1,000 cars in the towers.
Asci stressed that high technology would be used in construction and design of residences and offices and amount of the water/electricity used, air condition systems would all be controlled by computers.
The height of the towers will be each 125 meters. The residences and offices will be managed by Kempinski and a 24-hour luxurious room service will be provided in the smart towers. There will also be health service in the towers which will provide employment for 900 persons.
2005-05-31