Tell us about Bosphorus Development company.
– Our company is one of Turkey’s largest investment and development companies. My grandparents started the business in the 1930s. I am a representative of the third generation. The family business started with retail trading, later the company began to engage in other business activities; In particular, delicatessen, restaurant and patisserie chains, furniture and textile production, gas supply and petroleum products trade were opened.
Our company implemented its first development project in 1970. More than 5 million square meters of construction have been completed in 51 years. m2 real estate, more than 100 projects have been completed. Among the projects that are a turning point for us is the Istanbul Aquarium, one of the largest themed aquariums in the world with a total area of 23,000 square meters. m and the largest business center is Istanbul Tower 205 (220 m height, 246 thousand m2). We also built many shopping malls, the Crowne Plaza Istanbul hotel and nearly 100 business and premium residential projects. Today, there are 6 facilities in Istanbul that are in the design and first implementation phase.
We have our own architectural group, but we also work with the best architects in the world. We evaluated the offers of many leading architects of the world, especially for Istanbul Tower 205, but we decided on the project of the American firm Skidmore, Owings & Merrill (Burj Khalifa in the UAE, One World Trade Center in New York, Tianjin). CTF financial center in China).
Why was Ukraine chosen to expand the direction of development?
– I have been living in Ukraine for 20 years, married here and raised two children, studied at the Institute of International Relations of the Kiev National University. Taras Shevchenko. Ukraine is like a second homeland for me. During these years, he developed his business in various directions, but now he decided to focus on development.
Historically, very good relations have developed between Ukraine and Turkey, Turkish companies are actively involved in the construction of important infrastructure facilities in Ukraine, but Bosphorus Development will be the first Turkish development company to implement projects of this scale in the capital of Ukraine. We already have a pretty significant land bank in Ukraine. Today there are four plots of land, we are negotiating to buy three more. We do not want to give place names until construction works begin. I can only say that all plots are located in the central part of the capital.
What features should a land have in order to attract your company’s attention?
– The implementation of a successful project depends on many factors: location, infrastructure, transport links, availability of social institutions, etc. The size of the plot should be at least 1 hectare, but it can be smaller if the location is very interesting.
The necessary condition is that the land is legally flawless. We must carry out due diligence using the services of well-known international companies such as Baker McKenzie, Ernst&Young, DLA Piper to determine the land’s compliance with our standards and requirements.
– Unfortunately, there are no completely “white” areas in the capital without potential conflicts.
– This largely explains why there are so few international developers in Ukraine.
Which construction sector did you choose for investment? What projects do you plan to implement?
– As I already mentioned, we have experience in implementing projects of any complexity and various types: housing, hotels, trade, commercial real estate, infrastructure facilities, etc. In the construction of our facilities, we use only high-quality and ecological materials that have passed thorough inspection, examination and certification. In Turkey, we have our own production of construction and finishing materials. For example, all elements and structures made of wood in our projects are our own.
In Ukraine, we are currently studying manufacturers and suppliers of building materials, analyzing which Ukrainian materials to use and which to import. As an example, we are completely satisfied with the quality and characteristics of Ukrainian decorated granite. As for ceramic granite, we choose between Turkish, Italian and Spanish manufacturers. Windows and facades – we are studying the proposals of several representative offices of Turkish and German manufacturers in Ukraine. If we control the entire process of production of materials and if they fully meet our requirements, then perhaps we will make a choice among Ukrainian manufacturers.
Our first project in Kyiv will be a multifunctional residential complex with commercial and social facilities. It will be business-class housing with interesting and original architectural solutions, using quality materials, with well-thought-out and useful infrastructure for residents, harmonized with the environment. The project has already been developed by our architects in cooperation with Ukrainian colleagues.
When will you present the projects and start their construction?
– The construction of our first project will start in the first quarter of 2022, then we will talk about it in more detail and make a presentation. Our second project, no less large-scale, will be launched at the end of 2022.
How many personnel do you have in the company in general, how many will be involved in Ukrainian projects?
– The Turkish staff consists of more than 1,500 employees. In Kyiv, we are currently recruiting a team for the first project, we plan to employ about 100 workers at the initial stage. If necessary, we will bring highly qualified specialists from Turkey – management, engineers, architects, builders, etc. We are studying this moment from the point of view of the quality of work and the professionalism of the local staff. About 500 employees will be needed to implement our initial projects.
– Are you planning to certify your projects according to “green” standards?
– Most of our projects in Istanbul are certified according to LEED standards. For example, Istanbul Tower 205 meets the norms of the LEED Platinum quality standard. Regarding Ukrainian projects, we are currently at the stage of negotiations and selection of the certification system.
How much will be invested in the implementation of the projects?
– After the official presentation of our projects, we will open sales, but regardless of the activity of buyers on the real estate market and potential investors, regardless of the economic situation in Ukraine, we have enough financial resources to complete their implementation on time and in full.
