Öztürkler secures $1.183bn housing project in Cameroon

14 July 2014 (Last Updated July 14th, 2014 18:30)

Turkey-based Öztürkler Holding has signed an agreement with the Cameroon Government to build residential houses for public servants in Cameroon's capital city of Yaoundé.

Turkey-based Öztürkler Holding has signed an agreement with the Cameroon Government to build residential houses for public servants in Cameroon's capital city of Yaoundé.

The $1.183bn project will include the construction of 660 luxury homes for Cameroon Members of Parliament and 10,000 lodging houses for government employees.

The houses for parliament members will be built on a 550m² plot, whereas the houses for government workers will be built on 115m² plot.

"These projects we do with Africa keeps our flag flying at international markets, as well as contribute to our economy and construction sectors." 

Öztürkler Holding chairman Yusuk Öztürk was quoted by the Hurriyat Daily News as saying: "We have received all land and location deliveries for the housing project in Yaoundé, capital of the West-Central Africa's pearl Cameroon.

"These projects we do with Africa keeps our flag flying at international markets, as well as contribute to our economy and construction sectors."

As there are no production facilities in Africa, all materials and equipment required for the construction of houses will be brought in from Turkey.

"This means we will make the Turkish producers of these materials enter into African market," Öztürk added.

The project will also bring qualified employees from Turkey.

In addition to the housing project, the Cameroon Government has planned to build schools, hospitals, shopping areas, security buildings and sports complexes in eight different regions of the country.