Turkey's largest foreign investors, "SOCAR Turkey" has signed a contract on the purchase of a block of 19 thousand square meters area in the new residential and business center "Vadistanbul" of Istanbul in order to gather fastest-growing companies in a single center.
According to the press service of SOCAR, the new building will be completed in March 2016, shortly after that, the "SOCAR Turkey" will move to its new center.
Yavuz Kanan, chief executive officer of "SOCAR Turkey", said at the signing ceremony: "Choosing central administration building which will be able to manage $ 20 billion investment portfolio and to satisfy the needs of a rapidly growing company, we acted thinking not only today also tomorrow. Planning the future needs, we chose "Vadistanbul Boulevard". As the current office inadequate to meet the needs of the company we intend to reduce costs, to increase productivity collecting activities in a single centre implemented in different buildings as a tenant."
The new building will be financed with the credit for 10 years received from "Odeabank". We see this investment as a means to raise the motivation of workers, Mr. K. Yavuz added.
"SOCAR Turkey" bought for $ 75 million a block of 19 thousand square meters area which is included in the project of "Vadistanbul" carried out in Ayasaga neighborhood of Istanbul.