Kibar Holding to enter hospitality industry
ISTANBUL - HürriyetKibar Holding, active in the automotive, trade and logistics industries, is now planning to enter the hospitality industry by building a business hotel in Istanbul’s Küçükbakkalköy district.
The hotel will be built on a plot belonging to the holding and is planned to feature at least 200 rooms. Feasibility studies on the investment value and employment capacity is ongoing. Ali Kibar, the chairman and chief executive of the holding, said efforts to make Istanbul a regional finance center had influenced the decision to enter the hospitality industry.
Küçükbakkalköy, a district on the Asian side of Istanbul, is close to Ataşehir, where major financial institutions are planned to be based.
The holding’s main activities will remain in fields such as the automotive and metals industries.