The Turkish development company Bosphorus Development JSC (Bosphorus Development JSC) is entering the real estate market in Ukraine. It plans to start work on the first project in the first quarter of 2022.
“The construction of our first project will start in the first quarter of 2022. The second project, no less large-scale, will be launched at the end of 2022,” said Mehmet Vahit Sachaklioglu, founder and chairman of the supervisory board of Bosphorus Development.
Currently, the company is working on projects on four land plots in the central part of Kyiv, and negotiations are ongoing to acquire three more.
“In Ukraine, we already have a fairly large land bank. We would not like to name the locations until the start of construction work. I can only say that all plots are located in the central part of the capital,” Mr. Sachaklioglu added.
The company’s first project is a multifunctional residential complex with commercial and social facilities. It is about business-class housing with original architectural solutions, the use of quality materials, with well-thought-out and useful infrastructure for residents, planned in harmony with the surrounding environment.
“The project was developed by our architects in cooperation with Ukrainian colleagues,” noted the head of Bosphorus Development.
Mr. Sachaklioglu believes that for the implementation of the initial projects in Ukraine, about 500 workers should be involved: “We are studying this issue regarding the quality of work and the professionalism of local personnel.”
If necessary, the company can bring highly qualified personnel from Turkey, including management, engineers, architects, and builders.
About “Bosphorus Development” (Bosphorus Development JSC)
Joint-stock company “Bosphorus Development” (Bosphorus Development JSC) was founded in Ukraine in 2019. The authorized capital is UAH 125 million.
The founder and chairman of the company’s supervisory board is a representative of a Turkish family business, Mehmet Vahit Sachaklioglu. Since the 1930s, the Sachaklioglu family had a chain of shops and restaurants, was engaged in the production of furniture and textiles, gas supply, and trading in oil products. Since 1970, the business has focused on the construction of residential and commercial properties in Istanbul.
Today, the company is among the top 10 developers in Turkey. One of the most famous projects of the company is Istanbul Aquarium (2011) – one of the largest thematic aquariums in the world with a total area of 23 thousand square meters. m.
Next to the aquarium, the company built the large shopping and entertainment center Aqua Florya Mall (2012), the Crowne Plaza Florya Istanbul hotel (2015). The entire complex development project was implemented according to the principles of public-private partnership in cooperation with the authorities of Istanbul.
Another iconic object is Istanbul Tower 205 (2019).
It is the largest business center in Turkey with a total area of 246,000 square meters. m. The 220 m high skyscraper was designed by the world-famous company Skidmore, Owings & Merrill (SOM), the author of the Burj Khalifa projects in the UAE, One World Trade Center in New York, and the Tianjin CTF financial center in China.
