Tuesday, 17 December 2013

Turkey-UK trade to reach highest level in 2013 with15 bln USD

Chairman of Turkish-British Chamber of Commerce and Industry (TBCCI) Emma Edhem stated the trade between United Kingdom (UK) and Turkey will reach 15 billion USD in 2013, which would be the highest level yet.

Saying the UK investment in Turkey has reached 6 billion USD, whereas Turkish investment in UK is approaching 1.6 billion USD in the last decade, Edhem told AA in an exclusive interview that the trade volume between the countries had sustained a growth rate of about 9 percent each year between 2003-2007.

"The highest trade volume was obtained in 2008 with 14 billion USD from 2008. We have seen a slight drop due to the financial crisis. In 2013, the trade between UK and Turkey is expected to reach 15 billion USD, which is the highest level yet," Edhem said. "I think that these are remarkable figures, it's very significant and this is built of a period of the years of these economic boom. It’s been a good progress but it has been over the last ten years that we have seen Turkey has taken the platform that it has on a worldwide basis."

Source: http://www.portturkey.com

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Friday, 13 December 2013

Brand projects are attracting Gulf investors

Dünya – Turkey’s easing of the property ownership restrictions applied to foreign nationals initiated an upward curve in immovable sales to international investors, according to the head of the leading sector body, the Association of Real Estate and Real Estate Investment Companies (GYODER).

Brand projects are attracting Gulf investors’ interest on an increasing scale. Istanbul with its completed and ongoing residence/office projects has become an investment center in this regard”, Aziz Torun, GYODER President said about Turkey’s rising attractiveness for foreign property buyers.

“The share of property sales to foreigners has risen from 2 percent to 6.5 percent with the eased property ownership law. Half of the property buyers are from Gulf countries and Turkic republics...” Torun said, adding that transactions with Arab buyers are either in blocks or on an individual basis in ongoing projects. “These transactions are not yet regarded as sales because of the projects’ “ongoing” status. The actual share of Gulf-based investors will rise as completed properties are handed over”, Torun said.
The investor-friendly property law enacted last year allows foreign nationals to own property in Turkey regardless of the buyer’s country of origin giving the same right to Turkish citizens, effectively abolishing the ‘reciprocity principle’.

15,086 foreign nationals from 98 countries acquired 21,691 immovables -11,803 residential units and 9,888 land plots- in Turkey in the first 10 months of the year, according to data from Turkey’s Ministry of Environment and Urban Planning. Russians, Germans and Britons ranked as the top buyers of Turkish properties, preferring Turkey’s Mediterranean coast for their investments. Property acquisitions by Gulf investors stood at 2,697 in the same period, with a focus on brand projects in Istanbul.

Real estate purchases by foreigners reached a total of USD 2.6 billion in 2012, up 31 percent from the preceding year. The figure is expected to reach USD 3 billion by the end of this year.

Source: http://www.invest.gov.tr

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Thursday, 5 December 2013

Gulf countries to invest real estate sector in Turkey

As Istanbul Turkish real estate companies have visited by 30 companies at Dubai in October. Then 550 people groups of investors from the Gulf countries are coming to Turkey to discuss about the projects.

550 people groups of investors from the Gulf countries will come Turkey in 2013 December 5-8. Funds and capital owners and senior executives of the Saudi Arabia, Kuwait, Qatar, Bahrain, the United Arab Emirates and Oman companies which has 200 billion dollars funds and capital, will come to Turkey in order to see real estate investment opportunities.

Turkish-Gulf Real Estate Investment and Cooperation Fair and Congress will be held. The organization will be held under the name of the "Real Estate in 2013" by Saudi Arabia Daleel Group and in cooperation with CNR Holding.

Saudi Arabian Daleel Turkiya Group Chairman Muhammed Mufarreh said that, 200 billion dollars from Gulf real estate capital ready to invest in Turkey. 3rd airport, 3rd bridge, Canal İstanbul such giant Project increased value of the real estate sector.

Source: http://www.portturkey.com/real-estate/5753-gulf-countries-to-invest-real-estate-sector-in-turkey

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