Turkey's Agaoglu sees strong demand from Gulf investors

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Turkeys Agaoglu sees strong demand from Gulf investors
The Istanbul pavilion provided a lot of choices to visitors at Cityscape.

Published: Thu 8 Sep 2016, 11:48 AM

Last updated: Thu 8 Sep 2016, 11:58 PM

Turkish developer Agaoglu has said its foreign sales volume has reached $2 billion following the inauguration of its first international office in Dubai 2013.
Ali Agaoglu, chairman and founder of Agaoglu Group of Companies, said his company, which is developing four new projects worth of $3 billion in Istanbul and Bodrum, including an international financial centre, has been witnessing immense interest from the Gulf countries, particularly in the residential sector in Turkey.
"With its developing economy and strong political stance in recent years, Turkey has become a rising star in the world. With this steady foundation, real estate projects in the country have become appealing investment instruments," said Agaoglu.
Speaking to Khaleej Times at Cityscape Global, Agaoglu said Turkey would continue to be a stable and safe country for investors due to its robust foundation, well-balanced economy, and strong financial and regulatory environment.
"Turkey's economic and political ties with neighboring countries have further enhanced recently and potential investors are confident that Turkey represents tremendous possibilities and numerous opportunities for the local and foreign markets due to its young and dynamic population," he said.
The presence of 104 nationalities who have invested in Agaoglu's projects in Turkey is a testament to the growing acceptance of Turkey as a sought after global investment destination for property buyers, said Agaoglu.
He said confidence in the Turkish economy has once again been proven as the credit rating agencies retained their former investment grade rating status."
Agaoglu said as the biggest representatives of the Turkish real estate industry in the Middle East, his company is ready to cater to all the enquiries of property owners about the future of their existing investments, as well as potential buyers that are planning to expand their business and lives to Turkey in the upcoming years.'
As Turkey's leading real estate developer, Agaoglu will continue to serve the economy by introducing monumental projects. In line with its growth plan, the group is currently developing four new projects worth of $3 billion in Istanbul and Bodrum, Turkey.
Current major projects of the group are Istanbul International Financial Centre (IIFC), Maslak 1453 and My Newwork. IIFC is designed to be the newest financial centre in the world, consisting of six commercial and one residential towers featuring optimum security and technology encompassing 303,000 square metres. The total construction area of the project is 3,000,000 square metres. The project includes a cinema, conference centre with a 2500 seating capacity, as well as new business and shopping hubs attracting both Turkish and international investors.
He said the development is expected to increase Turkey's share in the international capital movement by enhancing Istanbul's power of attractions which are the local and foreign international financial institutions such as Central Bank, Halk Bank, Vak?flar Bank, Ziraat Bank, Capital Markets Board of Turkey and Banking Regulation and Supervision Agency head quarter offices to be relocated to the business hub of the project.
Maslak 1453, Europe's largest mixed used project comprises 4,203 residential, 507 office and 238 retail units. The construction is planned to be completed in the first quarter of 2017 on the total land area of 320.000 square metres.
- issacjohn@khaleejtimes.com
with the inclusion of residential units, offices, stores of various sizes, special boutiques, food and beverage facilities, amphitheater, art galleries, concert hall with a special stage and shopping malls together with a 1453 metre-long street that has the capacity to host the world of international brands, all making it an extraordinary project on a world scale with a total of 100.000 square metres shopping area. The project includes 24 towers, the tallest of which is 55 floors high and the lowest with 21 floors.
- issacjohn@khaleejtimes.com

by

Issac John

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The Istanbul pavilion provided a lot of choices to visitors at Cityscape.
The Istanbul pavilion provided a lot of choices to visitors at Cityscape.

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