“EXCHANGE RATES WOULD HAVE COMPLICATED THINGS IF WE WORKED ONLY FOR THE LOCAL MARKET”
The Erbatu Group is a company that has completed many residential projects in and around Famagusta and will be starting new projects in Iskele, Nicosia and Tatlisu in the future. At present, the company is working on the Iskele Turkish Maarif College, after winning the tender and laying down the foundations of the building in August. We had a short discussion with the Managing Director, Mehmet Yerli, on this subject and also about their other projects.
- Firstly, we would like to learn your thoughts on the educational establishment you are currently building, was it needed in Iskele and has it a crucial importance for our country.
We won the tender for the contract, priced at 10 million Turkish Lira, for the İskele Turkish Maarif College in August 2020 and this project does carry immense importance for the area. It will become a wonderful educational establishment and will be a complex that will add value to the area and offer the children a much better environment to receive a good education. Construction of the buildings is continuing and completion is planned for March 2021. EVKAF is financing this large project and we believe it will have a very positive outcome for the area.
- Besides this type of tender work, would you like to tell us about your building projects in Famagusta?
We have projects in every district of the city centre, currently 7 ongoing construction sites. We have especially invested in the Yeniboğaziçi area with, for example, our
Ada Park project, consisting of 40 detached villas and a swimming pool. This project will be ready to deliver in December 2021. We have made up for the time lost when construction was stopped during the pandemic and will deliver the project in the time promised. We still have a project in Iskele that has not been officially commenced and we are preparing for our ‘Dream Park’ project in Nicosia. We are also completing preparations for a project appealing to the Scandinavian market in Tatlisu with some 80 residences.
- How were your sales affected by the pandemic?
Erbatu was established 30 years ago and during this time has developed a sense of trust within both the local and overseas markets. We have not stopped but have continued with our investments, although foreign clients are not coming to the island, this has posed problems but also has had its advantages. We are in constant communication with our foreign clientele through our sales office in Tehran and also our international consultancy agencies. Of course, sales are not what they were before the pandemic, but in comparison to the global marketplace we are pleased with the number of sales being made. The current level of the TL exchange rates would certainly have complicated things if we worked only for the local market.
- Can you tell us about the present situation of the other companies within the Erbatu Group?
I have already mentioned our construction activities, our busy programme and plans made for 2021. In addition to this, Starzer Mobilya is one of the largest furniture manufacturing companies on the island, with a capacity of 5000 m2 and Artmax Yapi Market sells building materials. Elsewhere, in the education sector, we have the Ramen student dormitory located on the EMU campus with a capacity of 600 beds. Only the dormitory has had a few problems due to the students not coming back to school, as their education is continuing online at present. To sum up, the Erbatu Group is a large company and our activities are showing progress in all fields.
written by Propertync
Media
date :
05/15/2024
hour : 11:24 AM
