4/16/2008

Acteeum starts Turkey expansion with Samsun

Turkish Daily News - Acteeum Group, a privately-owned real estate development and asset management company, over the weekend launched “Ancora Samsun,” its first project in Turkey, which includes a five-star hotel and a shopping center. The company announced details of the project at a press conference in Samsun, a Black Sea city 415 kilometers north of Ankara, over the weekend. Sunday's “cornerstone ceremony” was held with the participation of Binali Yildirim, transport minister and Faruk Nafiz Ozak, public works minister. The group will operate six projects in six different cities – Istanbul, Adana, Sanliurfa, Kahramanmaras, Tokat and Samsun – in participation with Meinl European Land, an Austrian real estate investment company. Acteeum will build a five-star hotel in Samsun besides a shopping center while also building shopping centers in various other cities under the name Ancora. Responding to a question on whether the current international financial climate will negatively affect Acteeum's investments, Arne Bongenaar, chief executive officer (CEO) of Acteeum Group, said the international financial turmoil is “not that strong.” “We believe in Turkey and we plan long-term investments because we are confident of Turkey's strong economic fundamentals,” he said.

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