Emaar rejects reports of $1bn project in Turkey

Arabic media have quoted a Turkish official as saying that Emaar’s involvement in the project would include the development of a five-star hotel

Emaar Properties is currently not building any project in Trabzon city.
Emaar Properties is currently not building any project in Trabzon city.

Emaar has said it is currently not developing any projects in the Turkish city of Trabzon, contrary to reports that the Dubai developer is building a $1bn mixed-used project in the town.

Arabic media have quoted a Turkish official as saying that Emaar’s involvement in the project would include the development of a five-star hotel, residential towers and a commercial centre. The official said that the megaproject would be completed in two years’ time.

However, in a statement to the Dubai Financial Market, the developer denied the reports.

“In respect of the media reports published on 15 August 2016 regarding the building of a $1bn project in Trabzon by Emaar, we would like to clarify that Emaar Properties is currently not building any project in Trabzon city,” the statement read.

“We shall keep the market informed if any such opportunity arises.”

 

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