ISTANBUL - Ekonomist
Monarch Court, which started to operate in Luxembourg in 2006, entered the real estate sector in Turkey through the construction of residential projects located on the bays of Hebil and Yalıkavak in Bodrum.
The Monarch Court Hebil project, which sits on an area of 10,000 square meters between Türkbükü and Gündoğan, consists of a total of 36 residences with sea views and modern designs. On the other hand, Monarch Court Yalıkavak project, which is located on an area of 18,000 square meters, is comprised of a total of 120 residences.
The company's projects for Turkey are not confined to Bodrum, as the company plans to realize a $250 million investment in Turkey by 2010. The company particularly aims to undertake the construction of office centers.
�We have decided to realize investments in Turkey after laborious and meticulous market research,� said Christopher Penna, co-founder of Monarch Court, adding that the company has confidence in the potential of the real estate market in Turkey. Penna also said they will carry out construction of various other projects in Turkey,
The company plans to construct office centers in the area between Maslak and Levent as part of the first stage of its investments in Turkey. Penna noted that the company plans to build office centers with sizes of 3,500 square meters and that the company also intends to start ventures in luxury residence projects.
�We plan to construct luxury residences and medium-sized apartment buildings in the area that lies between Taksim, Şişli and Etiler in 2009,� Penna said.