12:11 16.12.2021

Turkish-based Bosphorus Development to start building first project in Kyiv in early 2022

2 min read
Turkish-based Bosphorus Development to start building first project in Kyiv in early 2022

The Turkish investment and development company Bosphorus Development will begin the construction of its first project in Kyiv at the beginning of 2022 - a multifunctional residential complex with retail and social facilities, the founder and head of the supervisory board of the company, Mehmet V. Sacaklioglu, said in an exclusive interview with Interfax-Ukraine.

"In Ukraine we already have a fairly significant land bank. Today these are four land plots, we are negotiating the acquisition of three more. Before the start of construction work, we would not want to name the locations. I can say that all the plots are located in the central part of the capital. The construction of our first project starts in the first quarter of 2022, then we will tell you more about it, make a presentation. Our second, no less large-scale project is scheduled for the end of 2022," he said.

According to him, when choosing sites, the company, in particular, paid attention to the location, infrastructure, transport links, the availability of social institutions and other criteria.

"The size of a land plot must be at least 1 hectare, but if the location is very interesting, it may be less. A necessary condition is that it must be impeccable from a legal point of view. To establish the compliance of a land plot with our standards and requirements, we necessarily conduct due diligence, they were made for us by well-known international companies such as Baker McKenzie, Ernst & Young, DLA Piper," the expert explained.

The first project of Bosphorus Development in Kyiv will be a multifunctional residential complex with retail and social facilities. According to the developer, this will be business class housing with original architectural solutions, use of high-quality materials, well-thought-out and useful infrastructure in harmony with the environment. The project was developed by the architects of the company in cooperation with Ukrainian colleagues.

Bosphorus Development is one of the largest development companies in Turkey. Since 1970, it has implemented more than 100 projects with a total area of 5.1 million square meters. Among the landmark projects is one of the largest themed aquariums in the world, Istanbul Aquarium, with a total area of 23,000 square meters and the largest business center Istanbul Tower 205 (220 meters high, 246,000 sq m).

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