April 22, 2012

Donald Trump Opens $400 Million Istanbul Towers

Donald Trump, the U.S. real estate developer, opened a $400 million twin-tower complex in Istanbul and will partner Turkish owner and billionaire businessman Aydin Dogan in more real estate in the city.

Trump Towers Istanbul, two skyscrapers each about 150 meters (492 feet) tall in the central Mecidiyekoy district, include 204 apartments on sale for as much as $6 million and 43,000 square meters (463,000 square feet) of offices and stores.

“We have a great relationship with Dogan,” Trump said in an interview at the towers in Istanbul today. “We are going to invest in real estate with them in Istanbul within two years. It will be something like Istanbul Trump Towers.” About 75 percent of residences at Trump Towers have been sold at prices ranging from $600,000 to $6 million, Trump and Dogan told reporters at a news conference in Istanbul today. Dogan and his family also own Turkey’s biggest media group.

“This project has been a great success,” Trump said in the interview. “It has made Turkey one of our priorities for real estate investment.”

All of the larger residences have been sold off, Trump and Dogan said. The size of the apartments range from about 85 square meters to 680 square meters.

Trump also said he plans to invest in hotels in Turkey “as soon as possible”. Donald Trump is the Chairman and President of Trump Hotel Collection, which features boutique luxury hotels in the U.S., Canada and Panama.

Read more on Bloomberg: Donald Trump Opens $400 Million Istanbul Towers


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