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    Turkey's Tekel land sale not approved by TOKI

    Hurriyet English
    16.05.2008 - 15:35 | Son Güncelleme:

    The Housing Development Administration of Turkey (TOKI) did not approve the sale of the old Tekel Liquor factory lands in Istanbul's Mecidiyekoy district on Friday citing the situation of the Kiler Group as sole bidder in the tender.

    The Kiler Group was the sole bidder in the tender for the sale of the old Tekel Liquor factory lands in Istanbul's Mecidiyekoy district on April 25. The Kiler Group had proposed to pay the land’s $295.7 million appraisal value in the tender.

     

    A new tender will be held on May 30.     

     

    The Kiler Group had planned to invest $350 million in the construction of a shopping mall and residence project on the land.

     

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