8/1/2008

Akfen secures 100 million Euro to finance tourism projects

Today’s Zaman - Akfen Holding subsidiary Akfen Real Estate Investment Partnership Co. Ltd. has secured 100 million Euro in loans from Is Bankasi and the Turkish Industry and Development Bank (TSKB) to expand in the tourism business in partnership with France's Accor Hotels. Akfen established a strategic partnership with Accor Hotels four years ago. After opening the Novotel and Ibis hotels in Istanbul, a Mercure hotel in the Turkish Republic of Northern Cyprus (KKTC) and an Ibis hotel in Eskisehir. Akfen Holding CEO Hamdi Akin said projects for 50 more hotels in various cities throughout Turkey are also on the way. "Our main concern is to provide the accommodation standards of five-star hotels at the prices of three-star hotels," he said.
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