The project embodies the building of 136 flats in two blocks with an appraisal value of TL 20 million in İstanbul’s Beylikdüzü district. The apartment prices vary between TL 160,000 and TL 510,000 dependent on size and location. The company expects to earn TL 40 million from the sales of Özgür Evler.
Sema Gürün, a board member of Kale Kilit and Kale Yapı, convened a press conference in İstanbul on Monday to promote and present the details of the project. She said Kale Kilit has been watching the construction sector closely for years by being involved in the construction and operation of numerous factories, business centers, shopping centers, hospitals and schools.
The group has further plans to build residences, condominiums, houses and shopping malls on land the group owns in İstanbul’s Topkapı, Güzelce, Beylikdüzü, Çobançeşme and Avcılar districts in the near future.
The Kale Group’s entry into the housing sector was no coincidence, Gürün said, pointing out that they have conducted many calculations and had deliberated before stepping in to the business. Turkey annually needs 600,000 new buildings, which is far beyond the sector’s production capacity, she added.
Kale Özgür Evler were offered for sale after they were finished, Gürün said, unlike many other projects in which construction companies sell houses by only showing cardboard models. Responding to questions from reporters after her speech, Gürün said the size of the company’s other plots in İstanbul vary between 2.5 acres and 37.5 acres and that the total size of the land they own is about 100 acres overall.
The group has a 9-acre plot of land in Topkapı, a vibrant business center in the middle of İstanbul, and is planning to build a shopping and residential complex, including a large condominium block, an office building, a shopping center and a hotel. “This project will cost over $100 million and we will conduct it all alone. We are thinking about starting this project as the next step,” she said.
