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No change in Amplio's investment plans

08.10.2008

 

  Amplio Hotel, which began venturing into Turkey in 2007 with the objective of constructing 80 hotels within 10 years with an investment of $1.5 billion, did not have a change of heart when it comes to its investment plans despite the adverse impact of the severe global economic crisis.

  "We will construct 20 Hilton Garden Inn hotels by 2011," said Alaeddin Babaoğlu, chief executive officer of Amplio Hotel Investments, adding that they have already started the construction of a hotel in Diyarbakır. Amplio Hotel plans to launch other hotel projects in Çorlu, Bursa, Çorum, Trabzon, Erzurum, Malatya and Manisa where they have already purchases building plots, said Babaoğlu.

  We will build city hotels in Turkey, said Babaoğlu, adding that Turkey lags far behind other European countries in regards to the number of city hotels in the country. Even if the companies operating in Turkey construct 20 city hotels each year for a period of ten years, the country will still not be able to reach half the number of city hotels in Germany, claimed Babaoğlu.

  "We have been searching for available plots of land in Istanbul in an extensive manner," said Babaoğlu. "We have been looking for land in the vicinities of Sabiha Gökçen Airport and Atatürk Airport," said Babaoğlu, adding that land prices in the region have reached extremely high levels.

  This company has been providing employment for 200 people per hotel, and hopes to employ 4000 people before the end of 2011, said Babaoğlu. Amplio Hotel has also provided an equivalent number of employment opportunities for the unemployed during the construction of hotels, he added.

  We aim to achieve the development of the countries we have been making hotel investments in. We have been carrying out 90 percent of our purchasing transactions in Turkey, said Babaoğlu, adding, we have realized the groundbreaking ceremony of our hotel in Diyarbakır through reaching an agreement with an organization company operating in the city. 

  "We will start the construction of a 12,000-square-meter Hilton Garden Inn hotel with 220 room capacity in Istanbul's Sütlüce district in December with an investment of $50 million," Babaoğlu said. The hotel will be constructed in accordance with the historical fabric of Haliç and classical Turkish architecture, Babaoğlu said. The construction of the hotel will start in 2009 and it will be finished before the World Water Congress, which will be held in Turkey in 2010.

  The fact that Istanbul was chosen as the European Capital of Culture for 2010 increased its potential, Babaoğlu had said in an earlier interview.

  The company has been negotiating with fund companies operating in the United States, England and Gulf countries, said Babaoğlu. We plan to sell a 30 percent stake of the company to one of these fund companies, he said. Mentioning how he also works as an independent member of board for the Westgrund company, operating in Germany, Babaoğlu said. This company, which primarily focuses on real estate investments, has a strong financial structure. The company has been carrying out extremely lucrative real estate investments in the different segments of the real estate sector, he said, and added that Westgrund might also start investing in Turkey as it is aware of the Ampilo company's investments and projects in the country.

NEVİN DONAT
ISTANBUL - Milliyet



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