Turkish builder launches major Macedonia project

Associated Press
Ibrahim Cevahir, Turkish investor and owner of 'Cevahir Holding', speaks during a cornerstone ceremony for construction of four skyscrapers and shopping mall, in Skopje, Macedonia, Monday, July 16, 2012. The construction site that measures about 280.000 square meters (3.000.000 square feet) will consist of four towers with 42 floors each 130 meters (427 feet) tall with business space, shopping mall, and providing residence to 5,000 people. This is the largest construction of residential buildings ever launched in Macedonia worth euro 300 million (367 million US Dollar) and will be completed in three years by Turkish company 'Cevahir Holding'. (AP Photo/Boris Grdanoski)
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SKOPJE, Macedonia (AP) — Macedonian leaders officially launched on Monday the country's largest-ever residential construction project — a €300 million ($365 million), four-tower complex in the capital Skopje.

President Gjorge Ivanov and Prime Minister Nikola Gruevski attended the event — which involved pushing a large "start" button — at the site of the project in the Aerodrom area, 2 kilometers (1.2 miles) east of the city center.

The facilities will be built by Turkish construction and investment group Cevahir Holding. The Turkish developers said the 130-meter (425-foot) towers will house a total of some 5,000 people and the project will also include a shopping mall when finished in three years.

Landlocked Macedonia has struggled to attract foreign investment since gaining independence from Yugoslavia in 1991, and it remains saddled by high unemployment, at around 30 percent.

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