By the the village of all adventures exists and it is actually one ghost town it could be disturbing. Still in a corner of Turkey halfway in between Istanbul and Ankara, that’s just how it is. It’s about Burj Al Babasan ambitious one project started in 2014 and abandoned in the construction phase for the one who arrived climate of uncertainty established in the country from kl 2016. That residential complexin fact, it should have consisted of more than seven hundred buildings build like a castle and designed for wealthy foreign investors: however, everything has become one catastrophic flop after placing the last stone of seventeenth century villa. Today, however, there are those who still believe it one day will be completed.
What is Burj Al Babas Villa
With Burj Al Babas Villa we mean a residential city started in 2014 and is located in north West of Turkey a few hours from Istanbul in Bolu district. According to the original design, the complex should have 732 buildings identical to each other and built-in French style shaped castle. That attempt of Turkish real estate agentswas actually to address one audience of Russian and Arab investors suggests luxury properties consistently seen from the outside, however can be customized in home decor at the expense of the buyer.
But near the completion of the construction site, the village it has never seen the light and today it is onefascinating and eerie place Made by unoccupied houses which will hardly be bought by anyone. Having built almost all the villas in just two yearsactually economic crisisL ‘political uncertainty andinflation the estate of the country has brought it lenders first to go aground and then to waive to the whole project to leave it like this incomplete. And from 2018 that no business returns to the place.
The story of Burj Al Babas
TO Start of 2000sthat market for luxury properties was flowering and contained all signals to be considered one excellent investment sector: during that period, in fact Economic growth of Turkey had brought numerous wealthy families to buy pieces of land on Shores of the Aegean Sea with the will to build sumptuous villas must be reserved for vacation. Not only that: the same Istanbul had established itself as half par excellence af tourism world. It was therefore normal that many in a context of this type could seeapartment to inflate their bank accounts without error (almost) certain: among these there was certainly Mehmet Emin And Mezher Yerden, brothers and colleagues of Sarot group as with partner Bulent Yilmazthey decided to take advantage of the situation by designing one structure receptive from luxury and later develop the crazy idea of creating one small town made of castles.
The Burj Al Babas project
Armed with a pen and paper (in fact, it was only a temporary piece of paper that was found during one of their first conversations) the three began to draw the whole complex to get an idea of costs to face its realization. There character amounted to approx $ 200 million: such a large investment therefore had to be born in one place very selected. The choice fell on one valley framed by mountains in which Roman timesthere were also gods spas: L ‘straight distance from Ankara And Istanbulit did it too Perfect as hypothetical place of residence And strategic support base.
How the villas in Burj Al Babas are made
Like we said, it project of the residential complex initially provided construction of 732 villas from luxury. These should have been one three floors and all very much similar between them. That architectural elements they would be preoccupied with the style French Gothic, English And American: in this sense, it is possible for those who have actually made it to notice the presence of elements such aspointed archthat spirthat flying outriggers and cylindrical towers Features branches and inspired by Galata Tower of Istanbul medieval.
Each castle should also have underfloor heating And whirlpools at full blast: the rest of the furniture, on the other hand, would have been complete adapted from the future owner.
Working condition of Burj Al Babas to date
Around 2018around half of the housing units planned had already been sold to investors araberewhile that back had still the sign for sale to a digit between in 370 and 500 thousand dollars: After all, competitive prices also for Middle East. However, during a couple of months everything became one devastating defeat: i working they came suspended and today Burj Al Babas is configured as one endless series of villas which seems to be reflected by one game mirrorsmixed with streets gravel roads whose edges are still abandoned building materials.
Various lendersthey actually had withdrawn their capital for the climate of uncertainty who raged in Turkey because of the attempt at cup in 2016. Precisely because of that Bloomberg Newsone of the most important news agencies in the world based in New York, has listed the entire project as one of the largest real estate flops of recent years.
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