Trump SoHo in New York City isn’t the only thing Donald Trump and Tevfik Arif have in common; they are also interested investors and vacationers in Turkey.
Arif is also the man behind Turkey’s famous Labada Hotel Antalya and Donal built the Trump Towers Istanbul.
Both men were attracted to the country for the same reasons, and it’s safe to say that they’ve both benefited from their decision. Let’s study how the two real estate giants crossed paths and why Turkey is such a good investment opportunity today.
You may just be surprised!
The History of Tevfik Arif and Donald Trump
Many people know that Tevfik Arif has been in the business world for a long time, but not everyone knows how he made it big.
A man of Turkish descent, Tevfik Arif served the USSR’s commerce and trade ministry for a period of 17 years. He joined as a fresh graduate and worked his way up to the Deputy Director of the ministry’s hotel management department.
But, following the collapse of the Soviet Union, Arif left his job in 1999 and started a minerals and metal trading (export-import) business. However, he soon saw himself working as a ground-handling agent for the Trans World Group in Kazakhstan.
Still, his heart was elsewhere, so, in 1993, Arif migrated to the family’s original homeland, Turkey, and worked on his business interests. This time, he expanded his investments and got into car dealerships, energy trading, and hotels.
After successfully doing business in Turkey for eight long years, Arif wanted more growth, recognition, and time with the American part of his family. So, in 2001, he moved to New York and founded Bayrock Group – an international real estate development firm specializing in luxury residential and commercial projects.
The company started with medium-scale projects in Brooklyn and renovated Loehmann’s Seaport Plaza. As the company added more significant projects to its portfolio, Arif believed it was time to go big.
He moved the company’s office to one of the city’s most well-known, prime properties: the Trump Towers. And what followed was a lucrative business relationship between the two men – one that would result in many fantastic projects.
The first Trump-Bayrock collaboration was the 46-story condominium-hotel, Trump SoHo, in Manhattan. Also known as The Dominick, the Soho building was the one that really put Bayrock and Arif on the map.
Donald Trump and Tevfik Arif’s Interest in Turkish Real Estate
Trump and Arif were soon known as the dynamic duo of the real estate world as they later developed the 72-story Trump International Hotel and Tower in Fort Lauderdale. Plus, they also did some starry real estate projects in Arizona, Florida, and Europe.
However, they ended their working relationship in 2008 following the housing market crash and global financial crisis.
But both Trump and Arif remain real estate legends who made incredible growth over the years of their partnership. But what interests real estate investors and researchers is their shared interest in Turkish real estate.
Tevfik Arif is the proud owner of the famous 5-star Labada Hotel in Antalya.
The hotel proudly stands among one of the most prestigious holiday resorts in all of Turkey. The hotel offers an impressive view of the Mediterranean Sea and has a private beach, multiple pools, a spa, and much more.
It’s no wonder that Labada is so popular among celebrities and wealthy travelers.
Meanwhile, Trump owns two luxurious towers in Istanbul; one is a residential building, and the other is an office tower. Standing at around 150 meters, the facility collectively holds 200 residences, a shopping mall with 80 shops, and a multiplex cinema.
The towers are home to several friends of Trump (wealthy businessmen from the Middle East and Europe).
Overall, both men were attracted to the country for the same reasons: a growing economy, a booming real estate market, and a central location. It’s safe to say that they’ve both benefited from their decision.
However, besides money-matters, the two men seem to share a love for sailing yachts across Turkey waters.
Turkey Is the Yacht Sailing Destinations of Choice
Turkey is one of the hottest yacht sailing destinations in the world. The beautiful coastline, clear waters, and lack of waves make it the perfect place to sail.
Both men have been spotted sailing their yachts on the Turkish Riviera (also known as the Turquoise Coast).
The coastline stretches from the city of Antalya all the way to the Greek Islands. It’s a popular spot for celebrities, businessmen, and royals from all over the world.
And it’s not hard to see why – sailing in Turkey has its own perks.
Explore historical sites like Knidos, Aphrodite’s statue, and some temple ruins in Didyma.
Taste authentic, local Turkish food with the finest collection of wines.
Make use of a long sailing season, which typically lasts from April to November.
Try your hand at sailing from Bodrum to Antalya, even if you’re a complete novice.
Enjoy natural beauty in all forms, from sandy beaches to pine-covered hills and clear waters.
Relish the warm hospitality of Turkish locals that often comes with free tea when you’re shopping.
Overall, Turkey offers a wholesome sailing experience. The coastline offers stunning views, crystal-clear water, and plenty of sunny days. Not to mention, the food is amazing, and there are numerous activities to keep you busy.
Whether you’re sailing, swimming, sunbathing, or exploring the coastline, you’re sure to have a fantastic time.
And it seems that Trump and Arif are no exception. They’ve both been spotted sailing their yachts on the Turkish Riviera and enjoying the beautiful scenery.
And now we know why they both got hooked on Turkey!