Is GYO to Invest $300 Million in Turkish Housing, Hurriyet Says

Dec. 28 (Bloomberg) -- Is Gayrimenkul Yatirim Ortakligi AS, a Turkish real estate investment company, plans to invest $300 million in housing and operational center projects near Istanbul, Hurriyet reported, citing Chief Executive Officer Turgay Tanes.

The projects, to be built for the parent company Turkiye Is Bankasi AS and its staff, will be carried out in Tuzla, 50 km (30 miles) east of Istanbul and completed in three years, the newspaper said.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net