A Relic From An Ancient Past

As long as I can recall, the partially-constructed apartment complex pictured above has remained idle. According to its sign, "Pozcu Plaza" was going to be the 'residence of the year 2000'.

"Pozcu Plaza" was highly likely one of the countless victims of Turkey's dual economic collapses in 1999 and 2001. In these years many construction projects came to a standstill or stopped completely as their owners became bankrupt, ran out of money or both. Not visible in the photo above is a crane stuck on the roof, evidence that the development came to a halt suddenly.

Located on prime real estate overlooking the Mersin coastline, the development is crying out to be completed or demolished. However, both of these options are very expensive and only government intervention or a huge rise in land prices will lead to "Pozcu Plaza" regaining face.

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Labels: turkey - economy, turkey - mersin - general