The project deep in Turkey’s northern Bolu province was to include 732 chateau-style villas, swimming pools, Turkish baths, health and beauty centers, a shopping center and a mosque. But as their clients who already snapped up 350 of the villas didn’t pay up in time, the court ruled for bankruptcy. They only need to sell 100 more villas to pay off their $27 million debt, so they hope to get over the crisis in four to five months.
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