The German consortium will take Garip Islan in İzmir Dikili in exchange for completing the 9 remaining projects of Fi Yapı and Dumankaya in SDIF management. The company will also start two property projects in Fikirtepe.
The Savings Deposits Insurance Fund (SDIF) has signed a consortium consisting of German Drees & Sommer, subsidiaries Eurabau and CPB and Flagman Capital for the completion of the remaining projects of the confiscated Dumankaya and Fi Yapı companies. The consortium will finish the half-finished houses of 8,164 victims.
“Most troubled companies …”
The president of the SDIF Muhiddin Gulal said that 5,136 families with Fi Yapı, and 3,228 families with Dumankaya have had issues adding that
Citizens have invested their money but there are no properties. Some projects have never started, some of them are 50 percent completed, some 80 percent. We also wanted to solve this problem. We came across a German company Drees & Sommer. They wanted to enter the Turkish market, ‘We can do this work,’ they said. When the construction industry is in a difficult situation, coming to our country also shows confidence in the Turkish economy. Drees & Sommer is active in 41 countries and Kayseri in Turkey Forum and signed the Marmara Park shopping center projects. The same group companies Eurabau and CPB are also very experienced. Flagman Capital is involved in providing finance and necessary financing.
Customers will not be charged additional payment
Gülal stated that citizens will not be asked for additional payment, adding “We will take the first step in projects that have been completed in large scale. The process will start in Sancaktepe. All projects will be completed in 2.5-3 years. There is an island worth 50 million Euros in Dikili, owned by Fi Yapı. Our investors will make a rehabilitation facility for German elderly people. Thermal water will also be transported from Çeşme. There are two transformation projects in Fikirtepe which Dumankaya has not started yet. They will sell the remaining stock houses from both companies abroad.”
German investors are expected to invest 150 million euros in Izmir Dikili, known as Garip Island.