Mehmet Kocadon, the mayor of Bodrum, which is one of Turkey's popular spots for holiday resorts, said 25,000 worn-down houses in the province need to be renovated without disturbing the urban identity. A total of 25,000 houses, which were built between 1983 and 1993, have flaked off over the years because of the poor quality of concrete used. Although Bodrum is not a city, it contributes $2 billion to Turkey's economy annually, said Kocadon, adding that this figure might easily surge to $7-8 billion in the next five years. Investments in tourism and construction sectors constitute a major portion of the region's overall investments, while ongoing investments add up to $35 billion. There are a wide range of groups investing in the province, including Turkey's leading holding companies such as Ağaoğlu, Rönesans, Doğuş, Ofton, Dap Yapı, Nef, Bayraktar, Eczacıbaşı, Polimex, Mar Yapı, Varyap and Astaş. Additionally, international hotel brands, such as Mandarin, Swissotel, Kempinsky, Four Seasons and Bvlgary have branches in the province. Çağdaş Holding, one of Turkey's prominent construction groups, has introduced Swissotel to the province and is set to construct two other hotels, which will cost 75 million euros and 100 million euros. "We are making efforts to make Bodrum a center of arts and congresses," Kocadon said, continuing that they will establish a new congress center on a 20-hectare area with an investment worth $60 million.
