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Akfen to Invest in Three New Hotel Projects

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Akfen Real Estate Investment Trust aims to invest in three new hotel projects and finalize them together with its ongoing nine hotel and one office projects by 2015, the firm’s general manager Orhan Gunduz told journalists in a press meeting on Tuesday.

Akfen Real Estate Investment Trust aims to invest in three new hotel projects and finalize them together with its ongoing nine hotel and one office projects by 2015, the firm’s general manager Orhan Gunduz told journalists in a press meeting on Tuesday.

The company has put 180 million euros into its ongoing projects, after investing 145 million euros to build 10 hotels between 2005 and 2010.

Four of the hotels and the office are being constructed in Russia in four cities where the 2018 FIFA World Cup will take place, Gunduz said, adding that the total investment there was 112 million euros.

The company’s total investment in Turkey by 2015 will be 35 million to 40 million euros.

Source: Hurriyet Daily News

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