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Turkish Real Estate Market Waits for Gulf Investors

ISTANBUL, March 30, 2014 /PRNewswire/ --


Projebeyaz International highlighted that new opportunities have arisen to attract real estate investors in Gulf States to Turkey and warned investors about the importance of right partnerships.  

     (Photo: http://photos.prnewswire.com/prnh/20140330/677614 )

Promising new opportunities, the Turkish real estate industry has recently become an attraction center for investors from the Gulf States. The legal changes made during the previous year and the rise in the US Dollar represent new and attractive opportunities for Gulf investors. Projebeyaz International, a leading player in the sector which is expected to reach 5 billions dollars over the future period, invites Gulf investors to Turkey. Projebeyaz International Vice President, Tolga Han, stated that a meeting will take place with Gulf investors during the International Kuwait Real Estate Fair to be held for the 14th time in Kuwait between April 7-12. "Turkish real estate industry attracts great attention of investors from all around the world. There is great opportunity for foreign investors at this point as the rise in the USD has not been reflected on construction costs. Potential investors from Gulf States will play a key role in this significant development. Our advice to Gulf investors is to act early to position themselves as profitable sellers instead of making purchases from other investors."

"Gulf investors must be careful"  

Tolga Han noted that their market share in the Middle East markets is 15% with a target to increase this share to 50% during the following year. Han underlined that investors from Gulf States who entered into Turkish market before had bad experiences. "Some Gulf investors entered into the market without a thorough research, deceived by the high profits offered by the Turkish real estate sector. However, they had negative experiences. As one of the most prominent real estate consulting companies in the sector, we are ready to provide the best service to Gulf investors in sales and partnerships. We are willing to partner with these investors on a wide array of fields to prepare an appraisal report for the real estate before purchasing, facilitate return on investments through after-sales property management, deliver projects design and land development, engage relevant partners during the construction phase and provide local and international organization services, and execute the sale."

3 billion dollar sales to foreign investors  

Tolga Han indicated that Turkish economy will deliver a 4.6 percent growth over the next five years and that Turkey's population will exceed 84 million during this five-year period, resulting in an increasing housing need. Han commented on the foreign investments in the sector. "Over the recent years, foreign investors have started to come to Turkey after the implementation of the law allowing them to own real estate in the country. Factors including the financial stability, higher growth rates compared to many other countries in the world, and global companies operating in Turkey also play an important role in this development. We have already started to see in the playground both small-scale and giant global companies desiring to involve in this significant market. Initially, 12,000 houses with a total value of 3 billion dollars are expected to be sold to foreign investors."


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