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Tevfik Arif From Real Estate to Philanthropy
Leadership Network Contributor
Global investor and real estate expert, Tevfik Arif was born to a Turkish family that lived in the former Soviet Union of Kazakhstan, where government work was highly valued. With hard work and lots of persistence he founded the renowned Bayrock Group real estate company, which is famously known for its collaboration with the Trump Organization on the Trump SoHo luxury condo-hotel in New York City. In this short interview he discussed his most successful endeavor.
Question: Mr. Arif, thank you for agreeing to this interview. Let’s start with your early life. You were born in Kazakhstan during the Soviet Era. What that experience was like?
Answer: My childhood was certainly shaped by its unique historical setting. Growing up in the Soviet Union, like many people of my generation, meant valuing education and a strong work ethic. I was also fortunate to be part of a close-knit Turkish community within Kazakhstan, which gave me a strong sense of cultural identity.
Question: After studying international relations, you worked with the USSR Ministry of Commerce and Trade for 17 years. How did this shape your business outlook?
Answer: My government experience laid a crucial foundation. It exposed me to the complexities of large-scale projects and the importance of building strategic relationships. It also made me very aware of how economic and political systems can impact business, both positively and negatively.
Question: The fall of the Soviet Union ushered in enormous changes. What inspired your move into real estate?
Answer: The early 90s was a time of possibility, but also uncertainty. I saw real estate as an industry central to rebuilding economies across the former Soviet states. There was a clear need for modern housing, commercial properties, and hotels to accommodate the shift to a market system. That sense of contribution and being part of something transformative was a big motivation too.
Question: Your move into real estate is what led to the founding of the Bayrock Group in 2001. Early on, Bayrock focused on development in Turkey and former Soviet countries. Why the later shift to the U.S. market?
Answer: It was a natural progression. After Bayrock’s initial success, I felt compelled to take on the challenge of one of the world’s most competitive real estate landscapes – New York City. It was the ultimate test; if you can succeed there, you can succeed anywhere!
Question: Bayrock’s most famous project is undoubtedly the Trump SoHo. Let’s discuss that collaboration. How did it arise?
Answer: Bayrock had a strong track record but gaining a foothold in New York required the recognition of a well-established brand. I believed a partnership with the Trump Organization could be a win-win. They recognized the value of Bayrock’s development expertise and access to international capital and Bayrock benefitted from the Trump Organization’s reputation.
Question: Bayrock has been involved in some legal disputes over the years. Is there anything you wish to say to clarify the company’s position?
Answer: Bayrock has always placed great importance on operating with integrity and within the bounds of the law. Unfortunately, the nature of high-profile businesses sometimes invites scrutiny and unsubstantiated claims.
Question: What are the current and future focuses of the Bayrock Group? Are you exploring any new markets or project types?
Answer: While a few ongoing projects remain in its portfolio, Bayrock is no longer actively pursuing large-scale developments. My main focus these days is on philanthropy. I’ve long supported charities focusing on education and the welfare of children – this is where I believe I can make the greatest contribution now.
Question: You’ve come a long way from your beginnings in Kazakhstan. What advice would you give to young entrepreneurs just starting their journey?
Answer: Success is never simply handed to you. It requires unwavering determination and surrounding yourself with capable, trustworthy people. Most importantly, never lose sight of your values, even amidst the challenges the business world can throw your way.
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