Ali Ibrahim Agaoglu
REAL TIME NET WORTH — as of 5/13/17
$1.07 B
As one of Turkey’s largest real estate developers, Ali Ibrahim Agaoglu rode a boom in the Turkish construction sector from 2009 to 2014. Now that the market has cooled and new projects are facing economic headwinds, he has been restructuring with an eye on increasing investments in tourism, energy, cement and real estate management. Agaoglu Construction has been active in renewable energy, building wind power plants with turbines sourced from Germany’s Nordex. Meanwhile, unfavorable economic conditions for tourism have delayed a $2-billion project targeting customers from Northern Europe. Planned for a 9.5-million-square-meter parcel of land that Agaoglu owns in Turkey’s most important tourism region, Milas (at the crossroads of the Mediterranean and Aegean Sea), the project comprises 5,000 housing units, four five-star hotels and a golf course.
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