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Construction – VIP PROPERTY https://v.wsms.me Best Property Deals Sat, 31 Oct 2020 10:41:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.20 Blue Mosque goes through extensive restoration https://v.wsms.me/iconic-blue-mosque-goes-through-extensive-restoration/ https://v.wsms.me/iconic-blue-mosque-goes-through-extensive-restoration/#respond Thu, 16 Jul 2020 08:05:06 +0000 https://vipproperty.com/?p=18680 Iconic Blue Mosque goes through extensive restoration

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Iconic Blue Mosque goes through extensive restoration

The first and only six-minaret mosque of Ottoman architecture – the iconic Blue Mosque in Istanbul – is undergoing the most comprehensive restoration in its 400-year history.

The mosque, officially called Sultanahmet Mosque but nicknamed the Blue Mosque for its blue-tinted tiles, was built by architect Sedefkar Mehmet Aga upon the order of Ottoman Sultan Ahmed I and opened to worship in 1617. It was built across from Hagia Sophia Museum, which served as a church at that time.

The comprehensive restoration of the mosque started in July 6, 2017 with the sponsorship of a Turkish businessman, Mehmet Yıldız.
Mürsel Sarı, a local official at the Turkish Directorate of Foundations, told Anadolu Agency that the restoration involved installing 43-meter-tall steel piers from the ground to the dome.

The work was scheduled to still allow worship, Sarı said.

“Because it is a very important work, we should not disrupt worship, and it was necessary to carry out the restoration without hampering the influx of visitors,” he said.

The mosque, an inseparable part of the city’s spectacular silhouette – attracts tourists with its ethereal exterior of 21,043 tiles arranged in more than 50 designs. The tiles, produced in İznik and Kütahya workshops in the late 16th and early 17th centuries, create the overall perception of a blue hue because that is the dominating palette in the patterns.
“Because the dominating tone of the tiles and pencil works on the inner walls are blue, foreigners called this place ‘Blue Mosque’,” Sarı said.

As part of the restoration, experts scour and restore hand drawings on the inner wall of the main dome – 43 meters up from the ground

The 400-year-old gates of the mosque were preserved in a workshop established in the courtyard of the mosque.

The trim works and pencil works on the mosque’s inner walls and domes also are receiving a detailed and meticulous restoration.

Amid the flurry of work, worshipers continue to perform their daily prayers in the mosque. The edifice continues to host around 30,000 tourists every day.

Sarı said the project could take more time and money than originally projected.

“In the beginning of the restoration, we forecasted that it would be completed in four years. It is our target to complete it in four years, but this process can be extended when we encounter unexpected situations,” Sarı said.

Sarı stated that the cost of the construction was initially estimated to cost 35,000,000 Turkish Liras ($5,800,000), but this figure is expected to increase to around 60,000,000 liras ($10,000,000) by the end of the project.

This article was originally published on hurriyetdailynews.com

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World’s largest photovoltaic solar plant to be established https://v.wsms.me/worlds-largest-photovoltaic-solar-plant-to-be-established-in-konya-by-2018/ https://v.wsms.me/worlds-largest-photovoltaic-solar-plant-to-be-established-in-konya-by-2018/#respond Sat, 16 Jul 2016 10:15:10 +0000 https://vipproperty.com/?p=18923 World’s largest photovoltaic solar plant to be established

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World’s largest photovoltaic solar plant to be established in Konya by 2018

Daily Sabah – Turkey’s Energy and Natural Resources Minister Berat Albayrak announced that the tender for a 1,000 megawatt-photovoltaic solar power plant, which will be established in Konya’s Karapınar district, will be held in December. Poised to be the largest of its kind in the world, the solar power plant will usher in a new era in Turkey’s use of renewable energy resources.

The US, China, and several European countries are expected to compete in the tender that will attract more than USD 1 billion worth of investment to Konya. The investment will create a competitive environment in energy prices, as well as reduce energy costs. The plant will be constructed on a 2,000-hectare area and will produce 1.7 billion kilowatt hours of electricity. That amount of electricity should feed in excess of 600,000 houses.

Pointing out that this is one of the first energy projects of its kind, Albayrak added that in order for a bid to be successful companies will have to install a PV manufacturing facility of minimum 500 MW yearly capacity. There are also plans that products could be exported in the future. Companies successful in the bidding process will start energy production by the end of 2018.

Turkey is set to hold a tender for a similar project in wind energy in the first quarter of 2017. Commenting on the wind plant tender, Albayrak said that they will offer alternative areas for wind farms that might be of interest to investors, and that the tender will be based on a win-win principle. These projects aim to enhance domestic technology and R&D activities in Turkey and will create employment for Turkish engineers, which in turn should encourage further technology-based production in Turkey.

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ICBC buys Istanbul’s second tallest skyscraper for $594M https://v.wsms.me/learn-the-truth-about-real-estate-industry/ https://v.wsms.me/learn-the-truth-about-real-estate-industry/#respond Wed, 09 Mar 2016 01:37:12 +0000 https://default.houzez.co/?p=635 ICBC buys Istanbul’s second tallest skyscraper for $594M

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Istanbul

The largest bank in the world by assets, deposits and loans, the Industrial and Commercial Bank of China (ICBC) has purchased the Istanbul Tower 205 project, which rises in the city’s most prestigious and priciest location.

The lender acquired the project with a construction area of 235,000 square meters for $594 million, a statement by the Yeşil Real Estate Investment Trust (REIT), a stakeholder in the project’s contractor, Zincir Yapı, said Thursday, confirming the rumors that have been circulating for a while.

“We respectfully notify our investors and the public that the $594 million ($550 million + VAT) takeover bid for Istanbul Tower 205 has been submitted to Zincir Yapı by ICBC Bank and ICBC Turkey Investment Securities Inc., and the bid has been accepted by the land owner and Zincir Yapı,” the statement by the Yeşil REIT made to the Public Disclosure Platform (KAP) said.

Yeşil REIT posted the statement upon requests by investors and Zincir Yapı to prevent speculations, it said.

Designed as a commercial project, Istanbul Tower 205 is one of the most prestigious projects in Istanbul. It is the second tallest high-rise in the city with 52 office floors.

ICBC Turkey is the first Chinese bank that started operations in Turkey by acquiring the majority shares of a local bank in May 2015. The bank was the first to use a TL 450-million fund created by the Central Bank of the Republic of Turkey (CBRT) within the framework of a swap agreement signed in 2012 and renewed in 2015.

The entry of Chinese banks into the Turkish financial sector has helped expand China’s investments and business operations in Turkey in other sectors, including in energy, logistics, tourism, transportation, infrastructure and e-commerce.

This article was originally published on dailysabah.com

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Turkey’s highest income earned in Istanbul https://v.wsms.me/why-we-love-real-estate/ https://v.wsms.me/why-we-love-real-estate/#respond Wed, 09 Mar 2016 01:32:25 +0000 https://default.houzez.co/?p=627 Turkey’s highest income earned in Istanbul

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Istanbul

The highest average annual income in Turkey is earned in its largest city Istanbul, which is also the region with the highest levels of income inequality, according to Turkish Statistical Institute’s data from 2018. The highest poverty rate was found to be just northwest of Istanbul in the region of Tekirdağ, Edirne and Kırklareli.

Based on its 2018 income and living conditions survey, TurkStat calculated the median annual household disposable income in Turkey to be 24,199 Turkish liras ($4,576).

The region with the highest disposable income was Istanbul with TL 34,912 ($6,102). Tekirdağ, Edirne and Kırklareli provinces in northwest Turkey followed with TL 29,952. The capital Ankara came in next with TL 29,847 as the average annual household disposable income.

The regions with the lowest disposable income were Van, Muş, Bitlis and Hakkari in eastern and southeastern Turkey, with TL 10,965. Mardin, Batman, Şırnak and Siirt followed with TL 11,204. In Şanlıurfa and Diyarbakir, also in the southeast, the average annual disposable income was TL 11,357.

Istanbul was also found to have the highest level of income inequality across all the provinces of Turkey.

Assessed in terms of a Gini coefficient, where numbers closer to one indicate higher income inequality and numbers closer to zero indicate lower inequality, Istanbul measured at 0.444. Adana and Mersin in southern Turkey followed with 0.402, and Tekirdağ, Edirne, Kırklareli in northwestern Turkey measured at 0.401.

The regions with the lowest income inequality were Malatya, Elazığ, Bingöl and Tunceli with 0.305 and Zonguldak, Karabük and Bartın in the western Black Sea region with 0.308. Erzurum, Erzincan, Bayburt in eastern Turkey also ranked low with 0.313.

TurkStat also calculated the relative at-risk-of-poverty rate for each region, based on the poverty threshold set at 50% of the median household disposable median income of each region.

Tekirdağ, Edirne and Kırklareli provinces were found to have the highest rate at 13.5%, followed by Istanbul and Adana and Mersin with 12.7%. The central Black Sea region of Kastamonu, Çankırı and Sinop followed with 12.4%.

The at-risk-of-poverty rate was lowest in southeastern Gaziantep, Adıyaman and Kilis with 5.0%, Zonguldak, Karabük and Bartın with 7.2% and Malatya, Elazığ, Bingöl and Tunceli with 7.7%.

This article was originally published on dailysabah.com

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Passenger traffic at Istanbul Airport surpasses 40M https://v.wsms.me/the-ultimate-cheat-sheet-on-real-estate/ https://v.wsms.me/the-ultimate-cheat-sheet-on-real-estate/#respond Wed, 09 Mar 2016 01:19:46 +0000 https://default.houzez.co/?p=616 Passenger traffic at Istanbul Airport surpasses 40M

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plane runway in Istanbul airport
Istanbul airport

Turkish transport minister says airport operated more than 252,000 flights

The Istanbul Airport welcomed over 40 million air passengers since its opening last year, Turkey’s transport and infrastructure minister said Monday.

A total of 252,795 flights (63,856 domestic and 188,939 international) have taken off and landed at the airport, said Cahit Turhan.

He added the construction of the third parallel runway spread across 76.5 million square meters on the Black Sea coast of Yenikoy and Akpinar districts on the European side of Istanbul will complete shortly.

The Istanbul Airport, whose first phase officially opened in October 2018, took over air traffic from the former main Ataturk Airport on April 6.

“The airport is projected to serve 200 million passengers annually with a full capacity after the completion of all four phases with six runways by 2028.

It is set to become a global aviation hub hosting more than 100 airlines and flights to over 300 destinations around the world.

This article was originally published on aa.com.tr

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Turkey’s exports to Turkic countries total $24.5B https://v.wsms.me/real-estate-industry-and-competitors/ https://v.wsms.me/real-estate-industry-and-competitors/#respond Sun, 24 Jan 2016 20:57:44 +0000 https://default.houzez.co/?p=1221 Turkey's exports to Turkic countries total $24.5B in 5 years

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View of Istanbul port.
View of Haydarpaşa port in Istanbul.

Turkey’s exported $24.5 billion worth of goods and products to the Turkic Republics in Central Asia between 2014 and 2018.

The trade volume with was discussed at the 7th Summit of the Cooperation Council of Turkic Speaking States (Turkic Council) in Azerbaijan’s capital Baku. According to the Turkish Statistical Institute (TurkStat), Turkey’s foreign trade volume with these countries totaled $38.9 billion in five years. Between 2014 and 2018, Turkey’s exports to member countries, including Azerbaijan, Kazakhstan, Turkmenistan (observer country), Uzbekistan and Kyrgyzstan, reached a total of $24.5 billion.

On a country-by-country basis, Azerbaijan was the biggest market for Turkish exports with $8.9 billion, followed by Turkmenistan with $6.8 billion, Kazakhstan with $3.8 billion, Uzbekistan with $3.3 billion and Kyrgyzstan with $1.7 billion.

Meanwhile, Turkey’s total imports from the Turkic nations stood at $7.1 billion in 2014, $5.3 billion in 2015, $4 billion in 2016, $4.2 billion in 2017, and some $4 billion in 2018.

This article was originally published on dailysabah.com

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