Qatari real estate firm invests in Ataköy project with Turkish partner

DAILY SABAH WITH AA
ISTANBUL
Published

One of the leading real estate and accommodation brands in Qatar, Retaj Group, has partnered with Cathay Group subsidiary Nivo for its Ataköy project.

Cathay Chairman Mahmut Alper Tuğsuz, Cathay Vice Chairman Mehmet Yılmaz, Liderlik Development Chairman Imad Shanan and Retaj Hotels Deputy Chairman Mohammed Bin Johar al-Mohammed attended the signing ceremony held for Nivo Ataköy.

"We acknowledge the fact that Retaj, one of the few investors of the Gulf region in the sector, has chosen our project for a collaboration as a global approval for our project," Tuğsuz said, stressing that with this agreement Nivo Ataköy will increase the quality of life and add additional value to the region. "Located in the most central position of Ataköy and ambitious with its architecture and social facilities, Nivo Ataköy is now entitled to take place in world ranking," Tuğsuz added.

In the Nivo Ataköy project, Retaj will serve as hotel-apartment according to the agreement. Tuğsuz said customers who purchase residences from the project under the terms of the agreement will receive at least twice the rental income in the apartment managed by Retaj's international expertise and that the depreciation period of their investments will fall by half compared to its precedents. "Our investors will not wait too long to recover the money they have invested," he added.

Pointing out that customers can also rent their residences to Retaj, Tuğsuz said when the project that appeals to those who want five-star services in hotel comfort with Nivo and Retaj is completed, it will be a first in the region.

"With the re-planning of Atatürk Airport as a city park, I expect all of our investors in the project will soon be able to recover their investments," he continued. "We have been a pioneer in many different practices to date. With this project, we will serve as an example for the sector and offer our customers the comfort of a hotel in the city center as standard service."

"Turkey has always held a special place in our hearts," Mohammed said. "Turkey is experiencing serious developm

ents in the tourism sector and is one of the favorite countries for Arab tourists. The desire to get to know Turkey's heritage and culture and enjoy its beautiful weather has increased in recent years." Johar stated that the said contract will best to meet customer expectations in line with its purpose.

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