Mardan just a first step in investments
Güncelleme Tarihi:
by Nevin Donat - Milliyet
Oluşturulma Tarihi: Haziran 01, 2009 00:00
ISTANBUL - Russian businesspeople’s new destination for investments is Turkey’s southern city of Antalya.
Realizing what a popular vacation destination Antalya has become for Russian citizens, many Russian companies have begun to invest in hotel construction in the area. Russian companies’ hotel investments in Turkey, which includes Mardan Hotel, are worth $2.5 billion. Mardan Palace Hotel, a five-star luxury hotel built by Russian businessman Telman Ismailov, was opened last Sunday with big celebrations attended by many famous names, such as Sharon Stone, Richard Gere, Monica Belucci, Paris Hilton, and singers Seal, Tom Jones and Mariah Carey. The hotel alone is worth $1.4 billion.
Sungate Port Royal
According to the data released by the Turkish Tourism Investors Association, Russian company Mirax had also paid $450 million to buy out Sungate Port Royal. KAF Hotel International bought Crown Plaza in Antalya, while Intourist purchased Justiniano Side hotel, which also has five stars.
Permission for the construction of the Russian self-made billionaire Mikhail Prokhorov’s hotel has also been granted. Prokhorov is expected to build a seven-star hotel in the Aegean city of İzmir’s Çeşme district.
Turkey comes second in a list of Russia’s tourism markets. Last year some 2.8 million Russians visited Turkey. Russians are also told to be waiting for the law restricting foreign real estate purchases to change, so they can invest further.
Sungate Port Royal
According to the data released by the Turkish Tourism Investors Association, Russian company Mirax had also paid $450 million to buy out Sungate Port Royal. KAF Hotel International bought Crown Plaza in Antalya, while Intourist purchased Justiniano Side hotel, which also has five stars.
Permission for the construction of the Russian self-made billionaire Mikhail Prokhorov’s hotel has also been granted. Prokhorov is expected to build a seven-star hotel in the Aegean city of İzmir’s Çeşme district.
Turkey comes second in a list of Russia’s tourism markets. Last year some 2.8 million Russians visited Turkey. Russians are also told to be waiting for the law restricting foreign real estate purchases to change, so they can invest further.