The Burj Al Babas housing development started life with a rather unusual concept - more than 700 identical chateaux (on a small scale, of course) to be built in the countryside of central Turkey, with prices starting from around £280,000. Now the dream of owning your own Turkish chateau is in jeopardy since its developer filed for bankruptcy.
The estate began construction in 2014, and the houses are all at different stages of completion. The developer, Sarot Group, filed for bankruptcy in November with debts of $27 million, according to Bloomberg.
The development would have been quite something, with a central complex including Turkish baths, fitness facilities, sports pitches, a cinema and shops. Sarot Group believes they may be able to rescue it, however, and claim that they only need to sell 100 of the villas to restore the project. So if you fancy living in an oddly Disneyesque new build somewhere been Istanbul and Ankara, there's no better time to buy.
Was this a Kuwaiti developer by any chance?
ReplyDeleteI don't know, but I did find a Burj Babas Facebook page with a Kuwaiti number. Not sure if they are just trying to sell them or are the developers. https://www.facebook.com/Burj-al-babas-328806580647131/
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