Mudurnu, Turkey (EVN / NRK/ CBS Newspath) -- In Turkey, one contractor that is developing a Disney-inspired town made out of 732 castles is running out of money.
In Turkey, one contractor that is developing a Disney-inspired town made out of 732 castles is running out of money. Courtesy: EVN / NRK/ CBS Newspath
The project was initially designed to target wealthy Arabs investing in real estate.
Mehzher Yerdelen, deputy chairman of Sarot Group's 'Burj Al Babas' project, said that market research in the Middle East showed people living there are interested in an in English and American style architecture.
On paper the plans are grand: the village will have a shopping mall, a ha mam and a mosque.
The project began in 2014, but Sarot Group applied for bankruptcy protection after buyers could not pay for the villas they had bought as part of the project.
Now, political unrest and economic crisis in Turkey has caused many buyers to pull out altogether, and the project has stalled.
The villas are located near the small town of Mudurnu in Turkey's northwestern region.