Ascott has shared the news of its opening of its first serviced residence in Turkey, Somerset Maslak Istanbul, with Turkish Prime Minister Binali Yildirim during a luncheon hosted by IE Singapore.
The 165-unit serviced residence is part of the new Maslak 1453, Europe’s largest lifestyle development complex spanning more than two million square metres. The property is located in the city’s major commercial hub, home to Ericsson, Cisco and Ford, Nisantasi University and Istanbul Technical University. Sports stadium Türk Telecom Arena that houses football club Galatasaray SK; and the Istanbul Sapphire are nearby.
Its apartments, ranging from studios to four-bedroom units, come with kitchen, separate workspace and living area and facilities include a breakfast room, gymnasium, residents’ lounge, swimming pool and children’s playroom.
Mr Tony Soh, chief corporate officer of The Ascott Limited, said: “Turkey is an attractive market for foreign investors and we see significant potential to expand in the country with Ascott’s international brand of serviced residences. Turkey has a strategic location at the crossroads of Europe, Middle East and Asia, a large domestic market and stable policy environment.
“The Singapore-Turkey Free Trade Agreement will also spell more trade opportunities and collaborations for these two countries. As the financial hub of the country, Istanbul is a natural choice for multinational corporations setting up headquarters in Turkey.”