A Retirement Dream Turns Into a Nightmare
Many of the buyers were middle-class families — teachers, doctors, and small business owners — who put their life savings into homes in Istanbul.
They were promised stable income and a secure retirement, but ended up in years of disputes and disappointment.
Rent Guarantees That Vanished Overnight
Buyers were assured they would receive annual rent guarantees of up to $20,000 per apartment. Payments came at first, convincing owners that the promise was real. But later they discovered the money wasn’t from hotel operations at all — it was their own funds, recycled through new sales.
Secret Clauses Hidden in Property Deeds
When disputes began, owners were shocked to find 13-year restrictions secretly placed on their property deeds. These clauses prevented them from selling, leasing, or freely using their homes, effectively stripping them of their rights as owners.
Locked Doors, Digital Keys
Even those who obtained deeds faced locked doors. Entrances, elevators, and apartments were controlled by a digital key system run by the developer. Owners say they could not enter their own homes without permission, and potential buyers were turned away.
