9 Kasım 2010 Salı

Turkey Benefits From Third World Bank Loan under the Energy Community of South East Europe Program

The World Bank’s Board of Executive Directors today approved the third loan for Turkey under the Energy Community of South East Europe Program in the amount of EUR 169.2 million (US$ 220 million equivalent). The project financed by the loan will be implemented by the Turkish Electricity Transmission Corporation (TEIAS).

The countries of South East Europe (SEE) including Turkey and the European Union are cooperating to develop a regional energy market - the European Community of South East Europe (ESCEE), and integrate it into the internal energy market of the European Union1 through the implementation of priority investments supporting electricity market and power system operations in electricity generation, transmission and distribution and technical assistance for institutional/systems development and project preparation and implementation.

The project, financed by this third adaptable programmatic loan (APL) for Turkey in the sixth phase of the ECSEE program (ECSEE APL 6), aims to increase the reliability and capacity of the power transmission system in Turkey and improve its ability to integrate renewable energy into the system. The project will thus help TEIAS and Turkey’s electricity systems to supply low cost, clean and high quality electricity reliably to consumers across the country.

The project includes two sub-components:

  • Component 1: Transmission System Strengthening and Expansion: This component will help finance some investments by TEIAS in the transmission system. It comprises sub-project investments to help expand the capacity and increase the reliability of the power transmission system and enhance the ability of the transmission system to integrate renewable energy, including investments in substations, cables and related systems.
  • Component 2: Institutional Strengthening: This component encompasses technical assistance, training and goods to strengthen the institutional and operation capacity of TEIAS, including in the areas of financial and operation management, accounting, auditing, enterprise resource planning (ERP), wholesale markets (balancing and day-ahead markets).

“This third World Bank loan to Turkey under the Energy Community of South East Europe Program recognizes the major steps that Turkey has taken toward the liberalization of its electricity market and its integration with the regional market of South Eastern Europe,” said Ulrich Zachau, Country Director for Turkey. “As the largest player in the South Eastern European market, Turkey continues to be among the leaders in electricity market development in the region. The project will enable the population in Turkey to benefit from a more reliable electricity supply, and will thus help spur economic growth and employment opportunities. I also particularly welcome the growing focus of Turkey’s energy program on energy efficiency and clean energy, to which the project financed by this loan contributes.”

ECSEE is a regional program and the World Bank’s investment support is being provided on a regional basis, using the adaptable program lending (APL) instrument to support ECSEE’s Regional Members (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania, Serbia and Montenegro, Turkey and Kosovo).

Turkey’s Energy and Environment Policy Program

The World Bank’s Board of Executive Directors today approved a Second Environmental Sustainability and Energy Sector Development Policy Loan (ESES-DPL 2) for Turkey in the amount of Euro 519.6 million (US$ 700 million equivalent).

Turkey’s energy and environment program, supported by the ESES DPL 2, aims to enhance energy security by promoting private sector clean technology investments and operations; to integrate principles of environmental sustainability, including climate change considerations in key sectoral policies and programs; and to improve the effectiveness and efficiency of environmental management in the context of harmonization with the Environmental Acquis of the European Union.

The Program has three components: Pillar I supports the energy program, covering energy pricing, electricity markets, renewable energy, energy efficiency, electricity distribution and generation privatization, and gas supply security and wholesale gas market development. Pillar II supports Turkey's National Climate Change Strategy following the ratification of the Kyoto Protocol in February 2009. Pillar III supports sustainable environmental management and is focused on the transposition of the EU Environmental Acquis and sectors/sub-sectors where environmental degradation could hamper sustainable development.

“Turkey continues implementing an ambitious energy sector program with a view to meeting the country’s growing energy demand in an efficient and sustainable manner,” said Ulrich Zachau, World Bank Country Director for Turkey. “Turkey has also begun stepping up its international and domestic engagement on environmental management and climate change. These actions and programs will help sustain economic growth, create more jobs, raise incomes, and reduce poverty; and will contribute to containing emissions, protecting the environment in Turkey, and improving the quality of life and health of its citizens. We in the World Bank are proud to be Turkey’s partner as the country advances this agenda.”

The ESES DPL2 is the continuation of the Programmatic Electricity Development Policy Loan (PEDPL1) dating back to 2009 in the amount of Euro 548.4 million (US$800 million equivalent) which supported the Government’s program for energy security, energy efficiency, and clean energy. The ESES DPL2 is an IBRD Flexible Loan in Euro with an interest rate equal to 6 months LIBOR term plus a variable spread, with a final maturity of 21.5 years, including a 14 year grace period.

Focusing on renewable energy for Turkey

The unique nature of this city where 37 percent of its residents commute on bicycles is a combination of many factors, which may not be easy to replicate in other capitals of the world. “We cycle because it is a mode of transportation for us, not a leisure activity or exercise,” stresses Inge Nilsson, who works for the city’s environmental department. She explained all about how the municipality plans to reach the ambitious goal of making the city carbon neutral by 2025.

In a city where buying, maintaining and parking a car is much too expensive, no wonder a sizable portion of its half a million residents opts to use bicycles to commute from home to work every day. I guess it is also part of the culture in which many Danes feel very conscientious when it comes to protecting the environment. The Copenhagen City Council has launched more than 50 initiatives to make the city greener, encourage more bicycle commuting and offer free advice on conserving energy.

With the exception of cycling, I think we can copy the Copenhagen experience in most parts of Turkey’s cities. It remains certain that pedaling in the streets of Ankara is a dream that may never come true. It is also true that Turkey’s stance that its special circumstances must be taken into consideration when it comes to climate change is not a sustainable approach in the long run.

Out of concern that its fast developing manufacturing base may lose its competitive edge, Turkey kept insisting on having a guarantee that its special circumstances would be included in the final agreement of the failed 15th Conference of the Parties (COP15) to the UN Framework Convention on Climate Change held in Copenhagen last year -- a provision appended to its portion of the Kyoto Protocol recalling “the special national circumstances of parties undergoing the process of transition to a market economy.”

Turkey’s exception was recognized in the 2001 COP 7 conference in Marrakech, where its name was deleted from Annex II of the convention. That meant that an unjust situation in which Turkey was included in the category as a developed country was corrected. But Turkey remained in Annex I of the convention because it is a member of the Organization for Economic Cooperation and Development (OECD).

Yet while this may have bought some time for Turkey by still using old coal-fired plants to fuel the engine of growth, I believe it is not a sustainable policy in the long run. Especially considering the fact that we have recently opened the environment chapter in negotiations with Brussels, the policy may need some revisions. The chapter will demand new environmental considerations affecting every business and municipality in Turkey, with a hefty price tag I might add.

For example, Turkey’s emission reduction target of 7 percent in the energy sector by 2020 is way below the 20 percent target set by the EU over the same time period. Therefore, Ankara may need to revise its national strategy document to reflect better alignment with EU standards and invest more in renewable energy technologies. Some environmental advocacy groups go further by saying that Turkey’s target should be to reduce emissions by at least 30 percent by 2020 in light of the fact that its emissions have risen quickly, from 170 million tons in 1990 to 372 million tons in 2007 as its annual per capita income rose from $3,000 in 1990 to $10,000 in 2007.

Though it may have warranted a place for Turkey in the category of “middle-income developing country” based on social and economic figures such as per capita income, per capita primary energy consumption and greenhouse gas emissions, the policy will take its toll on Turkey’s climate, which stands in one of the regions most vulnerable to the adverse effects of climate change.

While I was cycling on the streets of Copenhagen sightseeing last week, I wondered if it would be possible to ride on one of the steep streets in Ankara, for instance, to reach the top of the hill in Çankaya. I said, “No way.

I suggest that policymakers take another look at the policy developed by the state agencies and come up with a more realistic and human approach to national interests. Then maybe we will see a more sensible policy aired by Turkey’s representatives at the UN ministerial talks in Mexico at the end of this year. We should invest more in renewable energy options and pass the draft law that has been waiting in Parliament for more than two years. An abundance of domestic and international investors have lined up already to take advantage of the booming renewables market in Turkey.

The meeting in Mexico will build on the Copenhagen Accord, which seeks to limit the increase in temperature to no more than 2 degrees Celsius above levels recorded in pre-industrial times. But the compromise face-saving agreement does not spell out how to achieve that goal and is not legally binding on parties. We do hope the international community will fare much better in Mexico.

Pratt & Whitney and Turkish Technic Strengthen Partnership with an Advanced CFM56 and V2500 Center of Excellence

Pratt & Whitney, a United Technologies Corp. (NYSE: UTX | PowerRating) company, and its joint venture partner, Turkish Technic, a subsidiary of Turkish Airlines (ISE: THYAO), celebrated with an official grand opening ceremony this weekend for its advanced CFM56(R) engine and V2500(R) engine overhaul facility in Istanbul, Turkey.
Positioning itself as the Center of Excellence for CFM56 and V2500 maintenance, repair and overhauls within the region, the 25,000-square-meter (269,000-square-foot) Turkish Engine Center is located adjacent to the Sabiha Gokcen International Airport in the Anatolian peninsula. The facility has the capacity to service more than 250 engines annually.
"Turkey and its surrounding region are very strategic markets for Pratt & Whitney," said Pratt & Whitney President David Hess. "The opening of the Turkish Engine Center and our expanding partnership with Turkish Technic, which has 76 years of experience in the MRO market, is a testament to our commitment to forging a stronger presence in Turkey."
"This is an exciting phase for both Turkish Technic and Pratt & Whitney," said Dr. Ismail Demir, Turkish Technic general manager and Turkish Engine Center chairman of the board. "We are extremely pleased to be embarking on this journey with Pratt & Whitney."
Designed to meet the Gold standards of the United States Green Building Council's Leadership in Energy and Environmental Design (LEED(R)) Rating System, the Turkish Engine Center is built with recycled material and uses renewable energy sources for a portion of its energy load. In addition the site is anticipated to reduce its overall water usage by 40 percent compared with conventional facility designs.
"Pratt & Whitney and Turkish Technic have strong commitments to environmental policies," said Todd Kallman, Pratt & Whitney Commercial Engines & Global Services president. "Therefore, we continuously focus on integrating operational and sustainable practices that help conserve energy while minimizing waste."
"The combined expertise and shared learning of Pratt & Whitney and Turkish Technic will ensure the success of the Turkish Engine Center," said Daniel Tennant, Turkish Engine Center general manager. "Our experienced and competent team is dedicated to deliver only first-class quality products and services to our customers in the region."
Turkish Technic is the leading maintenance service organization in its region, providing MRO services for Boeing and Airbus airframes, engines, auxiliary power units, landing gear and components. Turkish Technic serves airlines in Europe, the Middle East, Northern Africa, Turkey and the Commonwealth of Independent States, with its maintenance base in Istanbul and highly qualified workforce of more than 3,000 personnel.
In recent years, Pratt & Whitney has significantly increased business activities in Turkey: in 2005, both Alp Aviation and Kalekalip (now part of Kale Aero) were awarded manufacturing contracts for critical components of the Joint Strike Fighter's (JSF) F135. In June 2009, Pratt & Whitney and Kale Havacilik San, A.S. (Kale Aero), signed a memorandum of understanding with the intent to develop a joint venture located in Istanbul to produce aircraft engine components.
Pratt & Whitney Global Service Partners (GSP) is a total service provider for engines made by Pratt & Whitney, International Aero Engines, General Electric, Rolls-Royce and CFMI. In addition to engine overhaul and repair services, GSP provides customers with improved engine performance and increased asset value through a portfolio of services including line maintenance, engine monitoring and diagnostics, environmentally friendly on-wing water washes, leased engines, custom engine service programs, and new and repaired parts.
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and commercial building industries.
This release includes "forward looking statements" concerning anticipated business opportunities that are subject to risks and uncertainties, including pre-conditions to a fully functioning shop that have not yet been met. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include changes in the health of the global economy and the aerospace industry. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's 10-K, 10-Q and other reports filed with the SEC.

ISTANBUL: The city too big to fail










Istanbul is a city as beautiful as Venice or San Francisco, and, once you are away from the water, as brutal and ugly as any metropolis undergoing the trauma of warp speed urbanisation. It is a place in which to sit under the shade of ancient pines and palm trees for a leisurely afternoon watching sun on water, looking out over the Bosporus. But also, in some parts, to tread very carefully. Istanbul has as many layers of history beneath the foundations of its buildings as any city in Europe. In 2010, it will become the European Cultural Capital. Depending on how you count, Istanbul has been the capital city of three, or perhaps four, empires. It is still shaped by the surviving fragments of Greek, Roman, Byzantine, Venetian and Ottoman civilisations. It has Orthodox Christian churches, Sunni mosques, and Sephardic synagogues. It has vast classical cisterns, ring upon ring of ancient fortifications, souks and palaces. It also has desolate concrete suburbs of extraordinary bleakness, urban terrorism, and a rootless, dispossessed underclass struggling to come to terms with city life.

It is the largest city in a state that emerged in 1923 from the chaos of World War I and the Versailles treaty, and the vision of modern Turkey’s founder, Kemal Ataturk, who, though he was born in what is now Salonika, and so unmistakably a European, moved his capital to Ankara, a city created almost from nothing. For the first few decades of modern Turkey’s existence, the state devoted most of its resources to the new capital and its infrastructure. For a while it looked as if Ankara and Istanbul might become twin poles: one a European gate, the other a counterbalance in the heartland of Anatolia. As Turkey’s urbanisation started to accelerate in the 1950s, the balance shifted overwhelmingly towards Istanbul. The rural poor poured into the big city and what used to be considered a cosmopolitan enclave, a demonstration of Turkey’s tolerance of other ethnic groups and faiths, has also become the heartland of its most conservative constituency. It is a city in which 3,500 dispossessed gypsies, descendants of a community that has lived in the Sulukule district in the shadow of the Byzantine city walls for centuries, are being systematically being moved out of sight and out of mind in an operation that recalls Robert Moses’ determination to drive federally funded highways through the black and Puerto Rican neighbourhoods of New York City.

Istanbul is the largest and most febrile urban centre in a country with an army committed to secularism, which, in some extreme cases, shades away from Ataturk’s ideals towards authoritarianism. If the generals miscalculate, it has the potential for an insurgency that could make Turkey a kind of Algeria and Istanbul its Algiers. But Istanbul is also what is driving Turkey, toward Brazil, Russia, India and China, the new economic powerhouses. The collapse of the Soviet Union made Turkey in general, and Istanbul in particular, a vital new centre for services and expertise profiting from a rapid growth in the energy-rich former Soviet republics. It is a phenomenon which is reflected in the array of carriers at Istanbul’s greatly enlarged airport, from Uzbekistan Airways, and Dniproavia, Tajikistan Airlines, Air Astana, Donbassaero and Tatarstan Airlines, their hulls painted in gaudy colours, more like busses than Boeings.

It is also visible in the stream of ships that clogs the Bosporus day and night, a continuous double file of tankers and freighters flows past the minarets and the suspension bridges that define the city. Istanbul is the base for the architects, the construction companies, the advertising agencies, and the banks that are reshaping Kazakhstan and Azerbaijan, and the Ukraine and even Russia. It has banks and television stations; it has manufacturers that are shooting rapidly up the value chain from generic products to designer label kitchen sinks.

Istanbul is Turkey’s passport into the European Union. It sees itself as part of a group of cities on an axis running from Dubai to St. Petersburg. If London is Europe’s first global city, Istanbul sees itself as its second. It’s a city whose influence is shaped by both culture and commerce. Istanbul has a thriving approach to contemporary art, although surprisingly perhaps, given the close personal interest that Ataturk himself took in architectural issues, importing Austrians to plan Ankara, it has not as yet developed a distinctive architectural culture of its own in the way that Mexico or Australia have. Its geographic size and population mean that Istanbul has a strong claim to being regarded as the largest city in Europe, even if it partly lies in Asia, where a third of its citizens now live. In the European suburb of Levent, one of Istanbul’s main business districts where banks cluster, you can find facsimiles of smart London Chinese restaurants and mega shopping centres. But Istanbul is also a place with settlements within its limits, in which Kurdish migrants from rural Anatolia tend flocks of sheep under the gaze of prefabricated concrete apartment blocks.

It is a city like no other and yet it is a city that has things in common with many other cities, even if it does not always recognise it. While Cairo’s population has doubled, Istanbul’s population, like Lagos, has quadrupled since 1980. It straddles two continents, in a way that is very different from, but inevitably also reminiscent of, the twin cities of El Paso and Ciudad Juarez straddling the Rio Grande, blurring Mexico with the United States.

Istanbul is home to nearly 13 million people, governed in a recently created unitary jurisdiction, which saw the city’s land area nearly tripled from approximately 1,800 km2 to 5,300 km2. Even now, it still pulls in another 1.5 million workers every day, swelling its peak time population to 15 million. The city administration is attempting to limit its population to 16 million, fearing that if it is allowed to spread unchecked it will reach an impossible 25 million, in a country that has currently 71 million people. But this is really in the hands of the national government, rather than the city, given that the GDP of the poorest regions in Turkey is just 20 per cent of that of the richest areas of the country. With such an imbalance, it is no wonder that Istanbul has become a magnet for the rural poor. Turkey’s internal migration has had the effect of making the inequalities of Istanbul grow more acute, rather than less, even as it has prospered over the last decades. And it is not the master of its own fate. There is the TOKI state housing programme, run by the Prime Minister.

Very few cities have such a compartmentalised geography. The vast majority of Istanbul’s citizens never make the crossing from one continent to the other. But the 10 per cent who do cross from one half of the city to the other every day amount to a still huge total of 1.2 million. And to accommodate them, there is a plan to build a third bridge across the straits. However, it is feared by some that this will destroy the reservoirs that feed the city. Ask civic leaders if there is an environmental problem for Istanbul. The first thing that they talk about is August 17, 1999, when a serious earthquake hit the city, causing 20,000 deaths. Natural resources, population growth, and civil equity barely figure.

But there are ambitious plans to create linear sub centres, both on the east and the west sides of the city, allowing the two sections to function better. The one on the Asian side of the city, at Kartal, is being shaped in its early stages by a dynamic masterplan prepared by Zaha Hadid. Among such privately financed developments, Istanbul has been investing heavily in its infrastructure. A metro system is gradually taking shape, the trams are being revitalised. There is a new rail tunnel under the Bosporus which will allow the realisation of the ancient goal of one of Europe’s empires, to create a direct rail link from Berlin to Baghdad.

In a world in which an accommodation between competing power blocks is essential for both cultural and political reasons, Istanbul is a key bridge between them. It is a city with more than enough of the usual urban problems, but that also the energy and the resources to stand a chance of addressing them. It’s in nobody’s interest that they should fail.

8 Kasım 2010 Pazartesi

Green Building Turkey



















Rising of sustainable architecture in Turkey is on everyone’s lips now. The world turned towards the country of two continents, already planning the greatest green building future there. But more and more voices in Turkey say – to build this future, they should watch at the past.
Sustainable architecture is not new fashion trend. Several hundred years ago in Emperor’s capital Istanbul, and till now on – in small South villages living without time – architecture was green. Turkish architects were living in peace with land and water much more than they do now. To find the most beautiful examples you don’t have to leave former hub of the world – Golden Horn in Bosporus. The most historical part of Istanbul, former home of Sultans, this place is offers you excursion to wise past.
Beginning with Topkapi Palace, huge territory with palaces, harem, libraries, courtyards, the main tourist attraction today and the site of UNESCO World Heritage. Covered with trees giving everlasting shadow, beautiful palaces of Topkapi gives you cool and serene feeling. Big windows orientated to get more sunshine but not heat. They also create flow of fresh air. Water system takes care of water used in the kitchen and in fountains. Spacious yards and court-yards teach how to manage the space.
Sultan Mehmed II chose old Byzantine acropolis for a New Palace. His biographies say that: “he took care to summon the very best workmen from everywhere - masons and stonecutters and carpenters. For he was constructing great edifices which were to be worth seeing and should in every respect vie with the greatest and best of the past. For this reason he needed to give them the most careful oversight as to workmen and materials of many kinds and the best quality”.

That was the reason why, coming to Istanbul for the first time, developers of Atasehir Project, the biggest and the greenest construction in Istanbul now, they first were led to Topkapi palace. To see Future in the most beautiful example of the past.

Hagia Sofia and the Blue Mosque stay right in front of each other and seem competing in grace and mastery. They are like two oases in summer heat. When you come inside you meet never-changing temperature in 20 degree. Natural ventilation system and wide walls of stone gives cool fresh atmosphere so needed is these holy places.

Right under mosques there is Basilica Cisterns – roman genius invention for keeping water. Between columns in the high ceiling from the very beginning you can find holes, providing a natural conditioner. Going through soil these pipes deliver cooled air. Forgotten and lost for centuries, rediscovered Basilica Cisterns now give her lessons.

Leaving Istanbul and moving more and more to the South and South East. In old villages of the Aegean Sea – from Izmir to Antalya – you find low stone houses. Huge stones from near sites under roof have small round halls going over perimeter of the building. “Here comes the air, - explains owner of the house in the village Altinoluk, - it’s kind of this modern conditioner. Air comes, moving here, going out. Air inside is very important. Why are the holes under the roof? It’s healthier”.

Houses in old villages closer to Diyarbakir on South-West can proudly claim to be built completely of renewable resources of near sites. Main materials are wood, sand, cow manure and mud. Manure is mixed with certain mud and doesn’t afraid of rain (at least for one year). These low one-floor houses are called “breathing houses”. Walls are breathing. They let the air inside and let it out and keep the air inside their porous structure. The walls are warm if you touch it and keep this warmth for the nights.










An Urban Oasis, Certifiably Green, Grows in Istanbul














In Istanbul, the only city in the world to offer addresses on two continents, most overseas interest in real estate has focused on the historic, European side, rather than on the newer, Asian one.

That preference may change, though, thanks to a combination of government policy, population growth, demand for new earthquake-proof housing and the increasing difficulty of commuting from one side of this rapidly expanding city to the other.

Taking advantage of these needs is a major new residential and commercial development at Atasehir, on the Asian side of the city.

Five towers of the Varyap Meridian, which will echo Istanbul’s historic skyline of domes and minarets, will house 1,500 apartments and a luxury hotel; there also will be three office centers. The entire project is expected to be complete in 2012.

The development boasts the latest in green construction — covering just 10 percent of its 37-hectare, or 92-acre, site.

And strong early sales of its apartments illustrate how the city’s residential housing market is bouncing back from a decline that followed the global financial crisis.

With a booming population — there is no official count, but estimates are 13 million to 15 million — demand for housing continues to be strong because around 60 percent of all residents are younger than 30.

As the economy recovers — the government expects 3.5 percent to 5.5 percent G.D.P. growth this year. “Lower prices from the downturn are again attracting investment in the residential segment,” said Andrew Rohr, a real estate specialist with Colliers International’s Istanbul office.

And now the Turkish government is backing plans to move all the major financial institutions still in the capital city of Ankara to Istanbul’s Asian side.

“Three state banks, the central bank, the capital markets board and the banking supervisory and regulation agency have all bought their land here,” said Erdinc Varlibas, chief executive of the Turkish developer Varyap, nodding toward a muddy building site in Atasehir, a self-governing region off the main highway to Istanbul’s newest airport, Sabiha Gokcen.

With a new financial center at its core — the move still requires an act of Parliament, which the government promises this year — Atasehir looks set for takeoff.

“Around five million people live on Istanbul’s Asian side, with several million of these traveling to work on the European side every day,” said Mr. Varlibas.

“On a bad day, it can take four hours to get home in rush hour. These people don’t have to be tortured by traffic if they live and work in Atasehir,” he said.

Also, many residents of this earthquake-prone city have been looking for apartments that meet building codes introduced after the 1999 earthquake in Marmara, Turkey, that killed more than 17,000 people.

Yet, even with the advantages, Varyap decided it would take a special effort at Atasehir to attract buyers.

Its solution was to commission RMJM, an international architectural firm originally from Edinburgh, to come up with a design for the Varyap Meridian that would rewrite the rules for Istanbul’s tower blocks.

“We started out by taking the silhouette of the city,” said Chris Jones of RMJM’s Istanbul office. “You get a carpet of low rise across the seven hills, punctuated by minarets. Topkapi Palace, the seat of the Ottoman sultans, is also a very green building, naturally ventilated with shade built in and wonderful views.”

Taking all this into account, the Varyap Meridian’s curving towers use solar and wind power, and the developers have applied independent Leadership in Energy and Environmental Design certification to verify the project’s green building credentials.

For example, the glass, steel and concrete all come from within the surrounding 800 kilometers, or 500 miles, a LEED requirement.

The project’s apartments range from 54-square-meter, or 580-square-foot, studios, selling for 289,000 Turkish lira, or $195,000, to a 232-square-meter four-bedroom apartment, selling for 1.2 million lira.

The apartments are being sold in three phases: the first, being built now, is all but sold out, while 60 percent of the second phase is sold. The third phase, a 200-meter, or 655-foot, tower — expected to be the highest structure on the city’s Asian side — is not yet on the market.

“We knew we needed to do something truly iconic,” Mr. Varlibas said. Born in 1978, he represents a new generation of Turkish developers who are internationally aware and looking to meet — if not surpass — the best global design standards in residential buildings.