Russia's Mirax Group has agreed with Turkish developer Cengiz Group on the purchase of the Sungate Part Royal Hotel, one of the most luxurious hotels in Turkey, for $340 mln (EUR 253 mln). The 1,000-room hotel is located in Kemer, a district of Antalya Province on the Mediterranean coast of Turkey. Kazim Cengiz, an executive board member of Cengiz Construction Company, said: 'The Russian tourism sector is of great importance for Antalya. The hotel was sold for a very high price.'
Russia's Mirax Group has agreed with Turkish developer Cengiz Group on the purchase of the Sungate Part Royal Hotel, one of the most luxurious hotels in Turkey, for $340 mln (EUR 253 mln). The 1,000-room hotel is located in Kemer, a district of Antalya Province on the Mediterranean coast of Turkey. Kazim Cengiz, an executive board member of Cengiz Construction Company, said: 'The Russian tourism sector is of great importance for Antalya. The hotel was sold for a very high price.'
Earlier this week, Mirax bought construction rights to develop a 60-storey 110,000 m2 skyscraper in central Moscow. The project is estimated to cost around $400 mln, Mirax said in a statement. The company, one of Russia's largest developers, owns assets valued at $4 bn. Mirax is currently working on projects including the Federation Tower in Moscow and Mirax Plaza. The Federation Tower will also include a 40,000 m2 hotel, which will be operated by Hyatt International.
