On top of it there is going to be a new stadium thrown in at Seyrantepe for the squad known as Cimbom. What a deal. Let me suggest a new expression for Turkish "Cimbom yapmak" meaning to claim something for nothing.
Mavi Boncuk |
I Bet you Did Not Know that Galatasaray Soccer Club owns a mere 2 000 m2 of Ali Sami Yen Soccer Stadium lot of 34 600 m2. To realize this so called exchange of land the team will be paid 20 million dollars. This parcel does not have zoning to build at the time of this transaction. If given 3 times lot coverage and sell at the highest end of the market at $3000/m2 (less the projected hard cost of construction of $ 5000 000) the portion of the deal can only generate 17.5 million dollars .
What a deal indeed.
No comments:
Post a Comment