New York property tycoon Donald Trump has tapped Istanbul for his next big project. Two high-rise towers in the upmarket Istanbul district of Sisli.
Trump Towers Istanbul will be Trump’s first project in the city. Donald Trump will build the project together with Turkey’s prominent Dogan family.
The complex will consist of an office tower, a second residential tower and a shopping mall. The statement did not give a value for the development.
Trump already has projects in New York, Las Vegas, Chicago, New Orleans, Dubai, Honolulu and Panama City and said the Istanbul development would be the Trump Organization’s first in Europe.
Donald Trump signed a deal on the project in New York with Mehmet Ali Yalcindag, executive committee chairman of the Dogan family’s media company.
“No doubt Trump Towers will bring an added value to the international brand definition of Istanbul,” Yalcindag said after the signing ceremony.
The towers are scheduled to be completed by 2010 and will cover an area of 23,000 square metres (247,600 sq ft) in the upmarket Istanbul district of Sisli.