Beykoz Municipality in Istanbul has decided to auction five properties valued at over 41 million lire to the highest bidder.
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Beykoz Municipality in Istanbul announced a controversial decision to put five of its properties up for sale at public auction. These properties are located in the Çobekmece area and have diverse zoning classifications including commercial and mixed residential designations.
The total value of the five properties exceeds 41 million and 560 thousand Turkish lire, according to Cumhuriyet newspaper. The public auction for these properties will take place on May 13. The decision came shortly after the municipality's leadership transferred to the ruling party, sparking discussions about the disposal of public municipal property.
Beyköz Municipality in Istanbul is putting 5 government properties valued at over 41 million lira up for public auction on May 13. The decision came after the ruling Justice and Development Party took over the municipality's leadership, sparking controversy over the disposal of public assets.
If you are an investor or business owner in Istanbul, you may have an opportunity to purchase properties with commercial and residential classifications in a strategic location at an auction price. However, the delayed sale may indicate the new government's intention to liquidate assets of previous municipalities, which could affect the stability of public property and municipal services in the area.

Mehmet Yılmaz