Terrifying photo & # 39; s semi-finished villas in gothic style such as storybook castles behind to rot in Turkey
Stark fairy tale: Terrifying photo's show semi-finished Gothic villa's that resemble storybook castles that have been left to rot in the recession of Turkey
- Deep in the Turkish countryside are 700 miniature black and white castles that look like a Disney film set
- But they have been left behind to rot after the Turkish economy faltered this year and looked forward to a recession.
- They were flogged to buyers in the Gulf, but the developers went bankrupt after they had payment problems
- Each of the small castles costs around £ 400,000 and the project has a large shopping center
Ross Ibbetson for Mailonline
In the Turkish countryside, hundreds of identical neo-Gothic villas are stark in the hills, a project like something from a Disney film set that has rotted away in the recession of Turkey.
The beautiful white houses with black roof open into a valley below hills covered with pine trees, such as miniature castles Neuschwanstein that have been reconstructed in the east.
The 700 villas in the Bolu region each cost around £ 400,000, but they are empty after the Turkish economy plunged last year.
The ambitious Burj Al Babas project had to seduce Arab buyers; instead of traveling to Europe, they could have a medieval castle in Turkey.
A fence with barbed wire is on the edge of the strange citadel that looks awfully quiet, with windows and doorways unfinished in the deserted countryside
The towers on the villas rise up out of the sand at the bottom of the valley, and stand like a grotesque, deconstructed Neuschwanstein castle in the east
Hundreds of houses in the Burj Al Babas project close to the town of Mudurnu in the Bolu region in the north of Turkey
The stunning range of white and black-capped houses looks like Hollywood from the forests of rural Turkey
But the vast unfinished dwellings constitute the totality of President Recep Tayyip Erdogan's failure to overcome the economic situation of his country.
After years of growth, the economy experienced an unexpected downturn, AFP reported, with many economists predicting a recession for the country in 2019.
The Sarot Group that took on the project to build the houses, as well as a modern shopping center, filed for bankruptcy.
The identical castles were designed with buyers from the Gulf in mind, but after a drop in oil prices many of them were in default
Hundreds of small castles are stacked side by side and come out of the valley, where they have been left to rot in the Bolu region.
As part of the Burj Al Babas project of the Sarot group, a modern shopping center had to be set up to meet the needs of thousands of residents
The neo-Gothic style imitates the medieval architectural style of Western Europe, a strange and ambitious project that has collapsed
Investors in the Gulf were not eligible for payments as a result of dropping oil prices, causing the developers to lose £ 78 million after they succeeded in flogging around half of the small castles.
The astonishing development is characteristic of much less spectacular buildings in Turkey that have continued to rot while the economy is faltering.
Turkey suffered a currency crisis in August during a diplomatic shout with the United States about the detention of an American pastor, who was later released, as well as worries about domestic monetary policy.
The project to build 732 villas and a shopping center – which began in 2014 – experienced difficulties when Sarot Group filed for bankruptcy protection.
Sarot Group's deputy chairman, Mezher Yerdelen, said that the villas are each worth around £ 400,000 and that his company's £ 78 million deficit is left
Erdogan has pushed off against high interest rates and described them as the "mother and father of all evil."
At one point during the row in the US and Turkey, the lira traded to lows of about seven against the dollar.
But after the dramatic fall of the lira in the summer, the bank made an aggressive hike in September from 625 basis points (6.25 percentage points) to 24 percent.
Despite legal battles about whether the Sarot Group can still sell the villas, their deputy chairman Mezher Yerdelen told AFP that it expects completion in October this year.