Tekfen Holding Partners in Real Estate with US Company
Tekfen Real Estate Development Group has entered into a joint venture with
Och-Ziff Capital Management Group,
a leading international institutional asset management firm.
With this agreement, Tekfen will continue its real estate operations under the newly established company Tekfen-OZ Real Estate Development Co. Inc.
Established and operating under Tekfen Holding since 2000, Tekfen Real Estate Development Group enters into a new partnership. Tekfen Holding and affiliated investment funds of Och-Ziff Capital Management Group (collectively OZ), agreed on a partnership whereby Tekfen will move its real estate operations under the newly founded company, Tekfen-OZ Real Estate Development Co. Inc.
The new partnership was celebrated during a closing cermony in İstanbul between Michael Cohen, Och Ziffs Head of the European Office and Tekfen Holding Board Member Murat Gigin, Tekfen President & CEO Erhan Öner and Mehmet Erktin Tekfen Holding Vice President in charge of real estate.
The new company willreal estate projects in İstanbul and other large cities in Turkey.
Developers of Akmerkez
In parallel with the developments in the real estate market in the year 2000, Tekfen Real Estate Development Group was established to respond to the need for high quality buildings in Turkey in general and in İstanbul in particular, and to take a pioneering role in the sector with its accumulated experience in design and construction. The group has earned renown with innovative projects such as Tekfen Tower and Taksim Residences, and has acquired a distinguished position in the property market.
The Akmerkez experience contributed to Tekfen Real Estate Group emerging as a prominent brand, and the group has gained expertise particularly in the fields of housing, shopping malls and office buildings.
Tekfen Real Estate Development Group offers a broad array of services ranging from concept design to technical and economic feasibility projects, from design development to market research, and from turnkey project management to property management.
The group is guided by a business strategy based on costumer focus and eternal costumer contentment in all stages of the projects it undertakes. The Groups on-going projects are in Kağıthane, İstanbul as well as in Yalıkavak and Gümüşlük, Bodrum.
Och-Ziff Capital Management Group
Och-Ziff Capital Management Group was founded in 1994 by Daniel The firm currently manages over $29 billion and has offices in the New York, London and Hong Kong, staffed by over 325 employees worldwide.