aghiles11
August 6th, 2011, 11:31 PM
Turkish construction company invests $160 million in Algeria
16 December 2010
Turkish Sinpaş Construction Company will begin a project in Algeria worth of 160 million USD.
Sinpaş, operating in residence and commercial real estate projects, will start a residence and shopping center project in Algeria in 2011.
Sinpaş' Director General Ahmet Çelik told the Anatolia news agency on Thursday that his company was cooperating with an important group in Algeria, adding that they would begin the construction of the project next year.
Çelik said that they earlier initiated a project in Belarus, but their partner in Belarus postponed its investments due to global economic crisis in 2009.
He added that Sinpaş had also another company in Qatar operating in different sectors.
Noting that both residence sector and Sinpaş would grow in 2011, Çelik said that decrease in interest rates, strong financing sector and flow of foreign capital in Turkey revived residence sector and the economy.
Sinpaş is a publicly traded investment partnership that invests in real estate and real estate development projects. Sinpaş Group, with its 33-year history in the real estate field, was re-organized in 2006 and currently continues its housing development projects under the Sinpaş GYO brand. Following an initial public offering of 49 percent of its shares in June, 2007 shortly after the formation of the partnership, Sinpaş GYO became a real estate investment partnership publicly traded at İstanbul Stock Exchange.
http://www.todayszaman.com/news-229818-turkish-construction-company-invests-160-million-in-algeria.html
16 December 2010
Turkish Sinpaş Construction Company will begin a project in Algeria worth of 160 million USD.
Sinpaş, operating in residence and commercial real estate projects, will start a residence and shopping center project in Algeria in 2011.
Sinpaş' Director General Ahmet Çelik told the Anatolia news agency on Thursday that his company was cooperating with an important group in Algeria, adding that they would begin the construction of the project next year.
Çelik said that they earlier initiated a project in Belarus, but their partner in Belarus postponed its investments due to global economic crisis in 2009.
He added that Sinpaş had also another company in Qatar operating in different sectors.
Noting that both residence sector and Sinpaş would grow in 2011, Çelik said that decrease in interest rates, strong financing sector and flow of foreign capital in Turkey revived residence sector and the economy.
Sinpaş is a publicly traded investment partnership that invests in real estate and real estate development projects. Sinpaş Group, with its 33-year history in the real estate field, was re-organized in 2006 and currently continues its housing development projects under the Sinpaş GYO brand. Following an initial public offering of 49 percent of its shares in June, 2007 shortly after the formation of the partnership, Sinpaş GYO became a real estate investment partnership publicly traded at İstanbul Stock Exchange.
http://www.todayszaman.com/news-229818-turkish-construction-company-invests-160-million-in-algeria.html