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  REAL ESTATE - TURKEY  
 
  7/2/2006  
 

Turkey: Istanbul Formula 1 Park on sale

 
The Istanbul Formula 1 Race Track, the construction of which cost $ 152 million and has suffered losses in all the organizations except the Turkey Grand Prix, is being put on sale.

The Formula 1 Race Track of Istanbul is said to have become destitute, having put to use for its maintenance all the profit it made from the Grand Prix and will soon be "locked up". The tender for the sale of the "Istanbul Park" -as the track is known- is expected to be announced within the next days by the Turkish Privatization Authority (OIB).
It is reported that Ofer Group, that belongs to the Israeli businessman Sami Ofer, is interested in buying the "Istanbul Park" and has ordered feasibility studies of the Race Track.


 
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