Turkey's housing development administration opened on Saturday a tender to sell the plot of Galatasaray soccer team's stadium in Istanbul.
The Housing Development Administration of Turkey (TOKI) said the tender for sale of Ali Sami Yen Stadium's 34,640 square-meter-plot would be open to Turkish and foreign construction companies and consortia.
The tender will take place at the TOKI headquarters in Ankara on May 24. The administration will invite the companies and consortia that it finds appropriate to the second round to take place on May 28.
On May 7, TOKI cancelled the previous tender as it found the winning bidder's offer of 416.5 million TL (271 million USD) too low.
The Nurol-Ascioglu consortium made the highest offer of 416.5 million TL for the plot of Galatasaray's home arena in an auction on April 16. The other bidder was Ozyazici construction.