TURKEY: Contract near for bank headquarters

20 September 1996

A venture of the US' Turner Steiner International with the local Tepe is expected to sign a contract soon for the construction of a headquarters for Turkiye Is Bankasi in Istanbul. The venture was the lowest of six bidders in August with a price of $138.8 million (MEED 23:8:96).

Work is expected to be completed within 1,090 days after the signing of the contract. The project will be financed by Is Bankasi, probably from its own resources.

The complex, in Istanbul's 4th Levent district, will have three separate towers of between 24 and 50 storeys on a site of about 225,000 square metres. It will include shopping malls, a bank branch, social and cultural facilities, and car parking.

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