Doğuş Group

The IFC, a member of the World Bank Group, has said it is investing $150 million equivalent of Turkish Liras in covered bonds issued by Turkey's Garanti Bank, in a bid to help boost the development of green buildings in the country's housing sector.

The tourism crisis has naturally also hit one of Turkey's first touristic regions, Cappadocia. I was in Cappadocia to see a close friend's newly-bought house in one of its villages, and to participate in the Cappadox Festival.
 

The Istanbul Municipality has halted construction at the in-progress Galataport project, which has been the subject of debate for over a decade. 

Weeks ago in this column I questioned the demolition of Istanbul's Karaköy Passenger Lounge, a building that was supposed to be under first degree protection. Scrutinizing the Passenger Lounge and the historic adjacent post office building, I asked how the Istanbul Conservation Board could have allowed this.  

Spanish lender Banco Bilbao Vizcaya Argentaria (BBVA) has acquired 41.79 million shares in Garanti Bank from Doğuş Holding and Doguş Araştırma Geliştirme ve Müşavirlik Hizmetleri at a cost of 7.95 Turkish Liras per share.

Spain's BBVA, which has a majority stake in Turkey's Garanti Bank, is looking to buy another bank in the country, BBVA chief Carlos Torres Vila has said. 

BBVA is not actively in talks as there are no banks for sale, but Turkey is a strategic market, he said. "We want to grow in Turkey. We want to acquire another lender that will bring value to Garanti."

Greece’s Council of State, the highest administrative court in the country, on Thursday ruled against construction plans for the well-known Asteras Vouliagmeni resort, southeast of Athens proper.
The site, which hosts a handful of mostly outdated hotels, related facilities and marinas, is considered by many as the choicest piece of tourism-related real estate in Greece.

Ali Fuat Yılmazer, a former Istanbul police intelligence chief who has been under arrest since July 23 as part of an illegal wiretapping case, confirmed in a Dec. 4 statement released by his lawyer that some 160 high-profile people were wiretapped between 2008 and 2009.