The ambitious and driven personality of Tevfik Arif Doyen has enabled him to travel from Soviet Kazakhstan to the most prominent parts of New York City. His enterprising spirit has been instrumental in his remarkable journey.
He is an entrepreneur and property developer from Turkish and Kazakh heritage and the founder of the renowned Bayrock Group real estate company. The company attained fame for its collaboration with the Trump Organization on the Trump SoHo luxury condo-hotel in New York City, which is also the headquarters of Bayrock Group.
Tevfik Arif’s Modest Beginning
Tevfik Arif is an inspiring example of what is possible when ambition and opportunity are aligned. A Turkish-Kazakh entrepreneur, property developer, and the founder of renowned real estate investment firm Bayrock Group, Mr. Arif has experienced success in both his homeland of Soviet Kazakhstan and the United States.
Tevfik Arif showed an early interest in business and economics. And so, upon graduating college in the Soviet Union, he began working at the Ministry of Commerce and Trade as a chief economist and deputy head of the Hotel Management Department.
It was during this time that he formed the partnership with Trump Organization which birthed Trump SoHo – a luxurious condominium-hotel complex located on 246 Spring Street in New York City. The venture was met with great success, demonstrating Mr. Arif’s acumen for making profitable investments that would optimize for long-term growth.
Putting a Mark in the Business World
After 17 years of dedicated public service, Tevfik Arif decided to enter the private sector in the early 1990s when the Soviet Union was privatizing its economy. Having earned a degree in International Relations from Moscow Trade and Economic Institute, Arif was well-poised to make his entrance into the world of business with a great foundation of knowledge upon which he could build.
As time passed, Tevfik Arif accumulated an incredible understanding of real estate markets and property development, leading to his businesses based primarily on luxury property development, natural resources, and import/export trade. His success enabled him to extend into other areas, such as the automobile and food sectors – all driven by his relationships engaged through a vast international network.
Through these well-rounded projects, Tevfik Arif paved a successful path as an entrepreneur while drawing upon an extensive web of partnerships across different geographies. These experiences allowed him to better understand shifting markets which provided Mr. Arif with more opportunities for growth towards his eventual successes with Bayrock Group in partnership with Trump Organization on the Trump SoHo complex in New York City.
By 1993, Tevfik Arif had already established himself as an astute entrepreneur. Having worked in the Soviet Union’s Ministry of Commerce and Trade, he had gained a deep understanding of the tourism industry – building upon which he moved to Turkey with plans to invest in real estate.
With his accumulated knowledge from the Hotel Management Department, Arif paved a revolutionary path for all-inclusive resorts, which was highlighted by his first project: The Labada luxury hotel in Antalya. Through this undertaking, Arif showed that he was both a clever investor and visionary when it came to visions for maximizing customer satisfaction. His success at Labada set the stage for further innovative projects – such as the Trump SoHo complex constructed on 246 Spring Street, New York City, in 2008 – that greatly benefitted from his expertise in property development and market trends surrounding global tourism.
Tevfik Arif’s Role in the Trump SoHo project
Tevfik Arif ‘s business enterprise slowly expanded to Europe and Central Asia before eventually making its presence known in the United States in 2001. His ambitious move brought about the foundation of his real estate investment and development company Bayrock Group located in New York City.
To kick off their inaugural projects and express the new structure of their firm, they began by renovating Loehmann’s Seaport Plaza – a shopping center situated in Sheepshead Bay, Brooklyn. Seeing that the first venture was successful, Tevfik Arif decided to relocate his offices to Trump Tower – a building located on the 24th floor of Midtown Manhattan.
As luck would have it, this was also where The Trump Organization was based, providing an ideal opportunity for both companies to collaborate on the highly anticipated developing project – consisting of what would eventually become Trump SoHo – one of NYC’s most prominent condo hotels. Needless to say, Mr. Arif’s business acumen and understanding of the power of the Trump brand led him to devise a strategy that would capitalize on this influential name.
This vision, presented by Bayrock Group and accepted by the Sapir Organization, ultimately earned the Trump Organization an 18% stake in the construction. Acknowledging that this was an invaluable opportunity, all three parties signed off on the deal – setting in motion what would become one of Manhattan’s most sought-after projects.
The 46-story architecture is graced with hotel suites, apartments, elegant eateries, bars, and a spa – plus a stunning outdoor pool for residents to enjoy, along with access to banquet and event halls. The prestigious Trump SoHo opened its doors in 2008 and has since become a world-renowned destination for high-profile individuals seeking luxury and leisure experiences.
Back to Europe and Central Asia
Following the resounding success of their first joint venture, the Trump SoHo condo-hotel, both Bayrock Group and the Trump Organization were eager to expand their partnership with further real estate developments across Florida and Arizona. Unfortunately, much like other businesses within the same industry, their plans were put on hold as a result of the economic crisis that occurred in 2008.
In light of these changes, Tevfik Arif decided to refocus his attention outside of the US back towards Europe and Central Asia. Thus far, they have yet to attempt any future investments Stateside; however, while they made their presence known in the US market, they took part in a remarkable $2.5 billion worth of real estate projects. Despite now taking a step back from his role in Bayrock Group and devoting more time to his retirement plan Tevfik Arif continues to serve as an inspirational mentor who provides valuable insight through his lasting experience and knowledge within this field.
