Omurga Real Estate Fund accepting investors until the end of the year
After having served as a senior executive at Tekfen, one of Turkey’s construction giants, Mehmet Erktin retired in May 2011 with 23 years of experience. But just as he was about to enjoy his retirement, he returned to the business world, following a phone call from Tolga Kabataş and his partners, who were looking for new business opportunities after selling the online marketplace gittigidiyor.com to e-bay. “We will be welcoming investors until the end of the year,” says Mehmet Erktin. “But most likely we won’t be accepting any new investors after that.” He states that they will be investing in properties in the first two years, and at the end of the fifth year, they will sell all properties and return their monies to all investors. While 60% of the funds will be channeled to offices (solely in Istanbul), 15% will be directed to residences, 15% to high street stores, and 10% to land investments, all around Turkey.