Coman develops a new city in Turkey

Source: Cobouw; June, 2nd 2006

Coman develops a new city in Turkey

From our reporter
Elsloo – Engineering consultancy “Coman Engineering & Contracting” will sign a memorandum of understanding with a delegation from Turkey today in a Southern village of the Netherlands, Elsloo.This letter of intent will envision the development and construction of a city in Turkey with 20,000 houses, several malls and affiliated facilities. The letter of intent will be signed by the Major of Gürsu,Eurasian Real Estate and Coman Engineering & Contracting. The Major of Stein, Mr. Barske and a delegation of Ankara will also be present during the signing.

The total development volume for this newly development property has an estimated value of 1 billion Euros. Coman will be assigned as main contractor and be responsible for the entire construction as elucidated by a representative yesterday. She couldn’t clarify yet how the project will be devised.

A letter of intent will also be signed today between the Turkish Gürsu and the City of Stein for a business-to-business platform.

The before mentioned occurrences will take place during the official opening of the new head office of Coman Engineering & Contracting in Elsloo. Coman Engineering & Contracting has arisen from a management buy out in March this year by the stock-listed company Grontmij.

Apart from the head office in Elsloo, Coman Engineering & Contracting has subsidiaries in Germany, Poland, Croatia, Italy, Russia, Turkey and Georgia.