Turkish real estate developers are doubly optimistic that investments from the GCC, in particular Qatar, would continue to be attracted to the properties under different stages of development across their country in coming years.
At the ongoing “Expo Turkey by Qatar 2017” at the Qatar National Convention Centre (QNCC), a number of high-end properties, spread across Turkey, especially those along the Black Sea coast, are being showcased.
Real estate is the one sector that has probably seen most number of exhibitors at the three-day event concluding tonight.
At least two of the developers who spoke to Gulf Times yesterday exuded confidence that the enormous economic growth recorded in Turkey in recent years would help the country attract international investors into the real estate properties.
Yavuz Can Onarli, the domestic and international marketing manager of SeaPearl Atakoy, which has an array of premium properties, has no doubt that the kind of appreciation experienced by the real estate market in the last few years would continue in the coming years.
He said that the value of high-end properties in Istanbul and surrounding areas had appreciated between 20% and 25% every year.
Promoted by Kuzu Group, SeaPearl Atakoy has many freehold seafront apartments for foreigners in their upcoming projects, one of which would be launched in a couple of months.
Onarli said that the properties in Atakoy and those being built along the marinas in the vicinity of Istanbul’s Kemal Ataturk Airport offer a range of investment opportunities.
The whole development is being executed in partnership with the Qatari Diar Real Estate Investment Company.
“Turkey is on the radar of many investors as it has become an attractive destination, thanks to its strategic location and the enormous opportunities on offer to investors,” said Kuzu Group chief executive Ozen Kuzu.
Ahmet Selcuker of Selcuker Center, which is opening a major shopping mall in Konya city, also has great expectations about the potential for investors from the Gulf region.
He said Konya, located somewhat in the centre of Turkey, offers greater scope for doing businesses as there are only a handful of premium shopping malls there at present.
“The city’s population is more than 1mn and we have reason to believe that investments in the malls under construction in Konya would be remarkably attractive for businessmen,” Selcuker said.
He said a number of Qataris have invested in properties across Turkey in recent years and similar investments are also coming from people of other Gulf States.
The developer also disclosed the names of some of the global brands which have already hired space in the Selcuker Center.
“Along with developing properties on our own, we are also extending an invitation to foreign companies for joint ventures in real estate development,” he said.
Konya, the seventh largest city in Turkey, has recorded continuous growth owing to the country’s strong economic growth.
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