Mubasher: Kuwait's Gulf North Africa Holding Company (GNAHC) on Wednesday said that it has taken the legal procedures to sue the real estate developer of Emporia project in Turkey as it has not committed to the contract signed between them.

The financial impact of this step on the company’s results has not been defined yet since legal procedures are still in their preliminary stage, according to a filing to Boursa Kuwait.

AKS Yapi Company, which has a longstanding experience in the Turkish real estate market, is the Emporia project developer, GNAHC previously stated.

GNAHC has continued to invest in Turkey's real estate market through the Emporia project, which is located in Atasehir, Istanbul’s financial centre on the Asian side.