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Israel Group Gets $4,000,000 Contract in Turkey; Will Build Hotel

December 15, 1955
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An Israel construction company, Reisal-Efraim Company of Tel Aviv, has just signed an $4,000,000 contract to build a 120-room tourist hotel at Soguksu, a suburb of Istanbul. The hotel will be completed in ten months.

The Turkish affiliate of the company, TIYAP–Turkish-Israel Construction Company–has also agreed to build 4,000 homes in the same suburb, which the Turkish Government is developing as a tourist center for foreign visitors. TIYAP has already built 120 villas in Istanbul for top Turkish government officials and 250 two-storied houses for workers in Hereke, an industrial town in Anatolia.

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