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Denizbank cancels rental agreement with Torunlar.

ySTANBUL (CyHAN)- Turkish lender Denizbank has reportedly canceled its rental contract with the Torun Center in central ystanbul, where 10 workers died in an elevator crash earlier this month, in a move that is perceived to be a reaction to the project owner's negligence, which reports indicate was responsible for the accident.

The lender had been planning to move its operations from eight different locations to the Torun Center, where it would rent an office for 10 years at a cost of $65 million, which would be paid to Torunlar, the owner and manager of the Torun Center project, by 2017.

According to reports released in news outlets this week, Denizbank's move came in reaction to the owner's negligence.

Many reports speculate the lender's decision was based on fear of public backlash if it shifted operations to the planned location at the Torun Center.

However, the lender has not issued any statement confirming or refuting the claims. Sources from the sector say if this decision is true it may set an example for other companies that planned to rent office space in the high-rise but cannot pull out due to financial concerns.

Turkey was shaken by an elevator crash at the Torun Center construction site that claimed the lives of 10 workers in early September. Amid several unfolding reports over negligence on the part of Torunlar, the owner of the project was deemed responsible. People from various social segments have attended protests aiming to halt work at the site.

(Cihan/Today's Zaman) CyHAN

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Publication:Cihan News Agency (CNA)
Date:Sep 29, 2014
Words:268
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