Sabah –Lebanon-based investment fund Edge Capital plans to invest USD 250 million in Turkey’s real estate sector with retail developer Turkmall.
The partnership carries the potential to attract USD 1 billion worth of investments in Turkey’s real estate sector over the next 5 years, according to Levent Eyuboglu, Vice President of Turkmall. “Partnership with Edge Capital opened new doors to similar deals with other Middle Eastern investment funds..”, Eyuboglu said. Turkmall is known for its shopping mall projects across Turkey.
“Edge Capital will primarily focus on lodging, congress center and retail development sectors in Turkey, Edge Capital CEO Naji Boutros said about the deal. Edge Capital owns 25 percent of Turkmall Real Estate, the project development unit of Turkmall and will have shares up to 50 percent depending on the project. The Lebanese company will also be a partner to Turkmall’s real estate projects in outside Turkey.