Major investments in the TRNC

Turkish construction company, Bulut Construction, held a press conference at the Golden Tulip hotel in Nicosia yesterday.

Temel Bulut, the chairman of the company was present along with many board directors to provide information on a number of major projects in which the company was involved in the TRNC.

Bulut Construction started work in the TRNC at the end of 2010 and is currently building the Lavinium site on the Kyrenia – Nicosia road. In addition it is about to commence a major construction project in Catalkoy which will see the building of 130 villas and a 2000 bed capacity hotel.

Lavinium Project

This is due to be finished at the end of this year and will consist of 44 buildings and 352 apartments.

The work has been subcontracted to two TRNC construction companies. Bulut Construction will be paying these companies £30,000 per completed apartment which will then be sold for £36,000.

Temel Bulut said that there were many major Turkish investors who were looking to enter the TRNC and that the government should encourage them to do so.

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