This town in Turkey might look like a Middle Eastern Disneyland, but it is actually an entirely empty ghost town with absolutely no residents.
The world is not in great shape right now. It's a controversial point to make, and one that not everybody agrees with. One of the ways in which many of us are feeling the pinch is financially. Banks are struggling, interest rates are soaring, and currencies are weakening. The only solace we can take is that we are all in this together. Well, not all of us, but let's not go down that road.
The nation of Turkey has been hit particularly hard over the past couple of years. The Middle Eastern country's currency, the lira has plummeted and in turn, its inflation rate has hit a 15 year high. Oil prices have declined, one of Turkey's biggest exports, and the banks have upped interest rates to try and remedy everything. It is all one giant mess and one that other countries can sympathize with.
Turkish company the Sarot Group has been hit particularly hard. The company has built an entire town of villas that look like the kind of castles Disney princesses would live in, reports Business Insider. The town is called Burj Al Babas and is made up of 732 individual mini-castles. You can check out a photo of some of them below. The castles were priced at around half a million dollars each and obviously aimed at some of the Middle East's more affluent residents.
However, the financial climate in Turkey right now has led to the group having to file for bankruptcy. Not only that, but its 732 beautiful castles remain empty. Even though 350 of them had previously been sold, potential owners being hit right in the bank account have led to the majority of those sales falling through. That means what was supposed to be a bustling new town filled with wealthy men and women is now a ghost town filled with nothing but empty castles.
Despite bankruptcy and nothing but 732 castles to its name, the Sarot Group has not yet admitted defeat. Not all of the 350 sales made so far have been backed out of. The town's architect still believes that Burj Al Babas will be open with residents living in its castles by October 2019. That's going to require a lot of hard work, but we certainly hope everything works out. We would definitely like to live in a mini-castle if we had the money.