Turkish Builder Fi Yapi in Financial Trouble, Hurriyet Says

Fi Yapi AS, a Turkish low-cost mass housing builder, can’t complete its projects and is having difficulty paying back 20 million liras ($11.1 million) owing to contractors and the tax office, Hurriyet reported, without saying where it got the information.

Fi Yapi, based in Istanbul, has stopped projects in Istanbul, Sakarya and Izmir provinces for about 4,000 apartments in total, the newspaper said. Fikret Inan, owner of the company, told the newspaper there were no financial problems.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.