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Edi and Ari Duek start a new Project at Göktürk - 08.02.2010
Edi and Ari Duek brothers who have been developing housing projects in different companies, has decided to walk together for the first time. The double team has come on strong for the project containing 70 houses at Kemerburgaz-Göktürk where Doğa Gayrimenkul which Ali Duek is one of the shareholders, has accepted as base since its establishment. Two brothers are actually at the opposite poles in terms of the works they have performed and their characters. Ail Duek who runs all around in the office with his black suits, is known with the boutique projects he has developed for the high income group. Edi Duek who always wears blue jean and leather jacket and is a motorcycle lover on the other hand, was with Fi-Yapı which has built the cheapest housing in Istanbul during the crisis till the near past. The new project of the brothers seems to be a synthesis on these two styles. They are also planning to perform a boutique project again at Göktürk but addressing the working part.

The beginning of the Duel Family to interest in the construction section happened during the crises in 2000-01 period. The Family had sold the toy store chain which is Intertoy to USA Company Hasbro in 1999. Just after that, by selling hygienic injector producer Tıp Set to the USA Company Tyco, they got the advantage of being cash rich by the first years of 2000 when Turkey was in big crises. The younger brother Ari Duek told that he had continued to be a professional executive at Intertoy for 3 years after the sales but he had quit as he wanted to do his own business. And targets to the construction sector. Ari Duek who explains his decisions with these words; ? On that times, the house purchases were made basing on trust to the owner of the construction company, there were no brands, but contracting. The architecture was not important generally in Turkey. People were building an imitation of another. ? anticipated that the original projects instead of ? potato print? houses having the same zoning plan would be more successful on those years.

In a period he explained in his words as ? In a period when Yüksell Inşaat remained MetroCity unfinished, Maslak-Levent line in Istanbul was full with unfinished constructions and people were afraid of buying new houses? Ari Duek started to develop a joint project with Yaşar Aşçıoğlu as the result of intermediation of his father, Yusuf Duek. They choose Selenyum (Selenium) which is the consideration of the plate number of Istanbul which is 34 at the periodical table. The flats at the 27 floor apartment with the name Selenium Residence were sold in a short time. After that the 78 flat Selenium Country project comes at Kemerburgaz Göktürk where comes first into mind while talking about luxury and brand. Ari Duek who has accepted Göktürk as base and his partners Uzi Sezer and Hakan Habif ,who also undertaken the architecture of the projects together established Doğa Gayrimenkul and continue boutique works here. Ari Duek who completed projects such as the 95 flat Doğa Country project spread into 16.000 square metres and Doğa Meşe Park project consisting of 121 houses, establishes his own place at the construction sector with his small scale but custom, tailor type works.

Edi Duek who worked at the textile company belong to his spouse?s family after rge sales of Intertoy and Tıp Set, was fine with following his 7 years younger brother for some time. Edi Duek who says ? I bought the first flat from Selenium Country but I was afraid and always looked to my brother?s business from a distance? explains that the textile business is not as profitable as it used to be due to the removal of quotas imposed to China but against this, property purchase and sales has high income. Edi Duek whose interest to the construction sector showed the potential at the working population who can purchase property by using credit instead of high income portion which is just the opposite of his brother?s. Again he became partners with Fikret Inan whom his father Yusuf Duek has connection. Edi Duek who says ?Luxury house is fine but large population of our country consists of working population. A mass that can purchase property with continuous credit.? Indicates that he becomes partner with Inan family at Fiyaka Sancaktepe project. The entire 242 flats in Fiyaka, Bağcılar has been sold as of today. Edi Duek who says he doesn?t know about construction and just because deals with marketing and accounting works, adds that Fikret Inan assists him and opens his horizon. Fi-Yapı with the pioneering of Inan has undertaken another project in Beylikdüzü having the flat prices ranging from 44 thousand to 89 thousand TRY which is called the cheapest housing project in Istanbul. Edi Duek who desires to buily houses at Göktürk just like his brother, separated his way with Fi-Yapı in January as he has intention to develop small projects in this regard. Edi Duek who is persistent to make new businesses with his brother didn?t need to wait too much. Nowadays, two brothers are trying to make the construction of 70 house project on the land of 1800 square meters which they purchased is Göktürk. The mass which a family corporation called ENA directed by Edi Duek and Doğa Gayrimenkul will make together shall address will be the working population which Edi Duek has seen potential from the beginning. Edi Duek saying ? We target to provide the comfort that an immediate family needs and reducing the square meter and gain from the cost? summarizes his targets with these words:? Göktürk is a region that senior executives desire but can?t reach. It is a place for which managers, executives, short business owners think it?s out of their range. The total investment cost of the project having no name yet, will estimated to be 8-9 million TRY.

Ari Duek indicates that the risk of the projects is proportionally low as the project they are undertaking in crises is small. He explains the reasons of this change with these words: ? The biggest advantage of Edi is the small dimensions of the project. It will be very easy to take and out backwards. Our risk here is at the minimum level. The Crises caused Doğa Gayrimenkul to revise some of its plans. Again in the project which they will begin in Kemerburgaz, it was anticipated to build 58 villas over 40.000 square meters at the beginning. On the revised project, there are 100 flats spread over less square meter than the original one. Everybody relegated to one class lower. They will return to live more efficient, we are revising our project for this reason.?

Işıl Dinçer who is the General Director of Turkish Virtual Development Bank Real Estate Assessment indicates that the Kemerburgaz region lost its attraction due to hard transportation for some time but with the emergence of Maslak and roads built lately, the interest has started to increase again.

According to Dinçer, the payment plans rather than the location of the project determines the sales as the market is generally depressed. Dinçer saying that it is important to come up with right price and right payment options. In consideration of the total payment of low advance payments and payment plan spread to the years, you purchase the flat in prices of the three and half year later notes that the second hand houses at the same site are 30-40 percent cheaper.

Doğa Gayrimenkul has two running projects. The first of these is the site called Doğa77 designed as 20 stores at below and 57 flats over these. The other one is the Hanımeli project construction of which has been running in Bodrum. For the Feriloft to be built in Feriköy, the license is being waited. Ari Duek explains that they are aiming to complete the proceedings until June 15TH and begin construction.

Dilara Yavuzer/Fortune
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