Tuesday, April 17, 2012

Buy-to-let investors are tempted to try and cater to the vibrant Turkish holiday market


Buy-to-let investors with  properties in Turkey could be tempted to try and cater to the luxury holiday market following recent comments from the Turkish Culture and Tourism Office.   Recent reports suggest that the country offers a diverse environment for adventure travellers is only likely to serve to enhance its reputation.

According to Comments from the Turkish Culture and Tourism Office, holidaymakers take the time to explore Turkey. Tourists are able to take advantage of some 8,000km of coastline offering some of the best water sport opportunities in Europe. The country also has snow-covered mountains, which are easily reached from the coast and visitors can spend an afternoon of skiing on Tahtali - the venue having been reached by cable car - after a morning spend in the beaches nearby.

Joanna Marsh, PR co-ordinator for the Turkish Culture and Tourism Office commented:  “The combination of long, sandy beaches, world-class golf courses - and the fabulous Mediterranean climate makes this one of the fastest growing tourism destinations. Alacati, on the Cesme Peninsula, is a world-class windsurfing destination; Kas down on the Mediterranean coast boasts excellent visibility and is a must-visit for scuba diving enthusiasts; whilst the Turquoise Coast, comprising Fethiye, Bodrum and Marmaris is the ideal spot for sailing and gulet cruising."

The news could prompt a number of potential rental investors to look at acquiring buy-to-let property in Turkey in order to take advantage of the growing tourism market. "There are also good flight connections from most major European cities. There are frequent direct flights From the UK, with Turkish Airlines and British Airways as well as low-cost carrier’s easy Jet and Pegasus," Ms Marsh added. The General Directorate of State Airports Authority of Turkey (DHMI) has stated that in Air travel in Turkey reached new heights in 2011, as Turkey’s 45 airports handled over 118 million passengers in 2011, recording a 14.4 percent increase when compared with 2010. Moreover, the data from Turkey’s Ministry of Tourism and Culture revealed that Turkey attracted 31.4 million foreign visitors in 2011, posting an increase of 9.8 percent as compared to 2010.

 According to the latest REIDIN.com Turkey Residential Property Price Index, Rental income has climbed across the country, which may be good news for investors hoping to let their real estate assets. The value of existing homes has increased by a 7.33 per cent.  Izmir, Adana and Istanbul are the top performing destinations based on the monthly data, while Adana, Ankara and Istanbul saw the greatest price growth. The top-performing destinations for rent rises in 2011 were Antalya, with an 8.64 per cent increase, followed by Izmir and Istanbul, with increase of 7.25 per cent and 6.83 per cent respectively. Rental growth was also posted in almost every location surveyed, with Adana the only place where rents were constant.  With the Holiday Lettings' Insights Report recently highlighting the country's popularity as a holiday destination, it appears that Turkey may continue to be a good place for rental investors.

Tuesday, April 10, 2012

Istanbul is in a position to "compete in every sense" with the likes of London and Paris


Istanbul has emerged as one of the most attractive markets for real estate investment in Europe and the city is likely to experience stronger capital and rental growth in 2012 than London.

Colordarcy, a property investment firm, has highlighted the advantages of buying  property in Turkey rather than opting for assets in London. Citing figures from the Financial Times, the firm stated that the rental growth in London appears to be slowing, indicating net yields on properties in desired locations stand at approximately 5.5 per cent while yields of 8.5 per cent are possible on Istanbul's prime real estate.  Also, the cost of buying a home in Istanbul is less than half of what it is in the UK’s largest city.  The firm asserted that Property price growth of 15 per cent or more is anticipated in Istanbul this year, meaning it will match or beat the figure recorded in 2011.

In an interview with Sunday's Zaman, Arman Ozver, Turkey Sotheby's International Realty general manager stated that the property market in Istanbul is in a position to "compete in every sense" with the likes of London and Paris.  There are certain areas in the Istanbul city, such as Nisantasi, which are considered to be safe haven areas for investment. He is also confident that  Property sector in the city will remain robust, even if the economic problems in Europe worsen.

Real estate prices in the most sought-after districts of the metropolis will fall by "a maximum of ten to 12 per cent” and Mr. Ozver reiterated that “There is still a lot of value and returns to be made on Istanbul's best property."

The Turkish city climbed from 25th place last year to stand in fifth position in 2011, According to the study by LaSalle Investment Management. The government's pronouncement to establish a financial centre in Istanbul has helped prop up its property market, while the nation's strong GDP growth has also boosted its appeal, the firm noted.

Earlier this year, Gem Invest highlighted Istanbul as a property investment hotspot in the nation, revealing rental yields of more than eight per cent are achievable on smaller apartments in the city. Property investors may want to turn their attention to Turkey this year after the real estate firm claimed its real estate market will continue to exhibit strong growth in 2012. Istanbul was highlighted as a particularly good choice due to "rental yields in excess of eight per cent for smaller apartments", the firm noted. Istanbul performed above this national average, with house prices rising by 1.08 per cent in the same period, while Antalya was the best-performing location with values increasing by 1.27 per cent.

Friday, November 11, 2011

Investment in Turkish real estate sector doubled in the Q2 of 2011


Turkey is the rising star of the real estate sector for investors as they promise higher profits than more expensive European centers and has exceeded growth expectations on a surge in foreign purchases.

According to a recent report by the Association of Real Estate Investment Companies (GYODER), overseas investors with large liquidity have headed towards Turkey, a country with high potential. The data provided by the “Real Estate Sector in Turkey and the World Second Quarter 2011” report issued  GYODER revealed that  foreign direct investment into the Turkish real estate sector more than doubled in the second quarter of 2011 compared to the first quarter of the year. The inflow of FDI into the real estate sector totaled USD 200 million in the second quarter of the year which was registered at USD 92 million in the first quarter of 2011, thus resulting in the highest amount of capital inflow in the past eight quarters. Meanwhile, the property sales to foreigners in the second quarter of 2011 was registered at USD 781 million, which translated as the highest amount of sales in eight quarters.

Isik Gokkaya, Chairman of GYODER said that between 2006 and 2008, property sales to foreign nationals stood at USD 3 billion. In 2010, real estate sales to foreign nationals rose by 40 percent, reaching USD 2.5 billion. He said the construction sector expanded 18 percent in 2010, also noting the rise in property loans. The chairman also recalled that Istanbul ranked at the top in “Developing Trends in European Real Estate Markets” report by PricewaterhouseCoopers and the Urban Land Institute.

He commented: “In 2009, the figures declined to USD 1.8 billion. However in 2010, such sales rose to USD 2.5 billion.” Gokkaya said the construction sector expanded 18 percent in 2010, also noting the rise in property loans.

Thursday, November 10, 2011

Istanbul is the best city in Europe for investment opportunities


Istanbul is fast emerging as one of the most attractive markets for real estate investment in Europe, new research has found.

According to the study by LaSalle Investment Management, Istanbul is one of the best locations for new property acquisitions and developments as the Turkish city climbed from 25th place last year to stand in fifth position in 2011. The firm noted that the government's decision to establish a financial centre in the city, a booming tourism industry and an influx of blue chip companies has made Istanbul, the first choice for many investors.

In addition, a joint study by PricewaterHouseCoopers and the Urban Land Institute (ULI) has found Turkey's largest city to lead the way in terms of development expectations for the second year in a row. Moreover, the city ranked in the top five for real estate purchase expectations. An increase in the level of visitors heading to Istanbul has also put the city to the forefront of investors' minds once again.

Firuz Soyuer, board member at ULI Turkey said that Investors might also look toward different areas to spread risk. Maybe shopping streets will come to the fore again
He commented: "International investors are still wary toward investing in logistics. Meanwhile, hotels in Istanbul still do not number many. Thus, we will see an increase in the supply of four-star hotels on the Anatolian side especially."

Indeed, the news surrounding an increase in property investment comes after Figures from the State Airport Authority have revealed the increase in passenger numbers at Istanbul's Sabiha Gokcen Airport and Ataturk Airport. The news may encourage a number of individuals to consider property purchase in Istanbul in an attempt to take advantage of the growing buy-to-let market.

Meanwhile, Alexander Tomlinson, Istanbul property investment expert and director of agency Gem Invest, said: "Istanbul remains one of the few locations in Europe, if not the world, with  real estate investment potential. With a population of nearly 18 million people and a burgeoning middle class, demand for new build highly quality housing continues to grow”.  He said that despite increased levels of construction there still remains a serious shortage of quality accommodation, some 250,000 units per annum.

Wednesday, September 21, 2011

Investors confident in the raw investment potential of Istanbul


Istanbul is currently the best city in Europe for investment opportunities in the fields of new developments and acquisitions, according to PricewaterhouseCoopers in its Emerging Trends in European Real Estate report.

The report also stated that the city is also second best for opportunities to increase returns on existing investments behind Munich. However, Istanbul also had the same score as first placed Munich at 6.08, so should really have been tied for first place. For the second year running, Turkey's largest city has topped the charts.

Developers have stated that Istanbul is currently experiencing a construction boom, however construction is not fast enough to bite into the increasing housing shortage. Commercial spaces are also in short supply in many areas and this is surely a double whammy of investment potential as there is room for growth in the construction industry, which will result in increased revenues in the economy, and this in turn will generate more demand for housing.

Report further revelaed that Istanbul was the only city that investors actually felt confident in the raw investment potential. The city’s office and retail segments represent the best opportunities for acquisitions with a tied percentage-based score of 24.5% and the hotel segment wasn't far behind with 18.95%.

Alexander Tomlinson, Istanbul property investment expert and director of agency Gem Invest, said: "Istanbul remains one of the few locations in Europe, if not the world, with best proeprty investment potential. The population of the city continues to grow year on year yet despite increased levels of construction there still remains a serious shortage of quality accommodation, some 250,000 units per annum."

In more good news for overseas Property buyers, the cost of living in Istanbul has fallen sharply over the last year, taking the city from 44th to 70th place in a list of the most expensive cities in the world, according to Mercer, a global human resources consulting company.

Changing face of Larnaca attract buy-to-let investors


The Larnaca town tourism board has announced plans to attract more visitors through Multi-million projects involving 15 ambitious development plans, which promise to transform the face of Larnaca.

Larnaca Tourism Board chief Dinos Lefkaritis, who is also leader of the Larnaca Chamber of Commerce, said that over the next five years Larnaca will receive new trendy image, making it as a very noteworthy travel destination with excellent infrastructure, superstructure and quality services with facilities for locals and visitors. However, he stressed out the need for project deadlines to be kept for the huge five-year enterprise to be achieved.

Larnaca has for years been in many respects ‘tourism‘s underdog’ but Thanks to these changes, Larnaca’s future has never looked brighter. The board said in its announcement that Larnaca has always offered plenty to both its residents and visitors, this is being further enhanced with a host of changes the town has recently undergone and big investments such as the new international airport, the creation of three town squares, the new marina as well as with some lesser known projects such as the revamp of Piale Pashia, a walkway between Pyla and Voroklini and an environmental centre at the Salt Lake. Such factors will undoubtedly help to improve the overall appeal of Larnaca, which could make it even more tempting to overseas investors.

Rental investors could find  Cyprus, a lucrative market this year, as it is attracting a growing number of visitors. Rental investors are optimistic about the country's performance during the rest of the peak tourism season, especially if the good weather holds. Since Larnaca is set to benefit from extra tourism, the city could be an ideal location for buy-to-let investors to consider, as rising demand could create higher rental yields.

Friday, September 16, 2011

Turkey aims to become one of top five countries in tourism revenue


Turkey is expected to increase its tourism revenues to USD 25 billion, climbing to eighth spot with the first half of 2011 proved a success for Turkey’s tourism industry as the number of foreign visitors to the Mediterranean’s tourist hotspot reached over 13 million.

According to Turkey’s Ministry of Culture and Tourism, foreign visitors to Turkey have increased nearly 12 percent when compared to same period of the previous year. During the first half of the year, Antalya remained the most popular port of entry to Turkey with 32.3 percent of arrivals. Nearly 27 percent of tourists used Istanbul as a gateway to Turkey, while the border city of Edirne processed 8.8 percent of foreign visitor entries. Turkey is expected to host some 31 million foreign tourists in 2011.

Ahmet Barut, chairman of the Turkish Hoteliers Federation (TÜROFED), has said that they expect the increase in the number of tourists coming to Turkey this year to be around 10 percent, compared to 2010 with expected arrivals to reach 31 million. In good news of rental property investors,  Turkey will see a 15 percent increase in its tourism revenues this year, equal to USD 25 billion, compared to the USD 22 billion generated in 2010.

Currently Turkey ranks seventh in the world in terms of the highest number of tourists. He added that they are aiming to become one of the five countries with the highest revenue from tourism in the next 10 years. This means the current tourist figures will get doubled in 10 years.

Meanwhile, the Turkish Statistical Institute’s (TurkStat) recently released data revealed that the tourism sector is gaining in size as an important source of foreign exchange for the country as Turkey tourism revenue hit a new record level in the second quarter of the year. The income from the tourism sector has shown a17.8 percent increase which is almost USD 5.5 billion when compared over a year ago. Approximately 83 percent of Turkey’s tourism revenue is left over by foreign nationals, while the rest consists of expenditures made by Turkish citizens living abroad, TurkStat data show.

Thursday, September 15, 2011

Property prices in Turkey increasing strongly in 2011


Demand for Turkish properties remain strong as prices are being pushed up by interest from overseas buyers, it has been suggested.


According to Overseas Property Professional (OPP) reports, prices have increased by at least nine per cent so far this year while last year it was six percent. Suleyman Albay, Oceanwide Properties managing director said that the volume of inspection trips from buyers has more than doubled.  Turkey is benefiting from a vibrant economy, and domestic confidence is also increasing, not least because of the 2.9% reduction in unemployment over the past year., as Turkey continues to be one of the fastest-growing economies in the world, There is also an expectation that the number of people with a total wealth of more than $1 million will nearly double during the next three years.

He commented: "It is important to note is that there is very little overbuild here which helps buyers maintain value in their property, unlike other countries which went for massive urbanization”.
 
The comments follow the reports from ReidIn Turkey Residential Property Price Index which revealed Sales prices increased 0.83% in Turkey overall, They were up 0.32% in Adana, 1.02% in Ankara, 1.05% in Istanbul, 1.02% in Kocaeli , 0.64% in Antalya, 0.66% in Bursa and 0.84% in Izmir  during July 2011. Rental prices are also on the up, increasing 0.36% in Turkey overall. Rents climbed 0.76% in Antalya, 0.44% in Bursa, 0.31% in Adana, 0.47% in Ankara, 0.28% in Istanbul, 0.81% in Izmir and 0.46% in Kocaeli during July 2011.


 Meanwhile, the data from the Association of Real Estate Investment Companies (GYODER) show that house prices in 2011 are rising at a rate of around 6% per year. Property prices rose 0.56% month on month in April, and were up 6.45% year on year. This follows similar growth in the previous 3 months, with prices in January up 0.95% on the month and 6.30% on the year respectively, February up 0.19% and 6.18% respectively and prices in March up 0.19% and 6.17% respectively.

In related news, Association of Real Estate Investment Companies stated that overseas buyers accounted for £1.5 billion worth of home purchases in Turkey last year.

Saturday, September 10, 2011

Foreign investor fervor for Antalya increases


Antalya is fast emerging as one of the best destinations in Europe for real estate investment, according to new research.


Turkey’s Foreigner Affairs Unit at the Land Registry Directorate showed that approximately 111,200 properties have been bought by overseas buyers, with more than 31,000 properties now under foreign ownership in Antalya. The Hurriyet Daily News reported that Buyers from the UK, Germany and Greece are the most prolific in the market, while there are also many Dutch investors with homes in Antalya.

The REIDIN.com Turkey residential property price index revealed that house values in
Antalya has increased by 0.64 per cent in July. Also the first half of 2011 proved a success for Turkey’s tourism industry as the number of foreign visitors reached over 13 million with Antalya remained the most popular port of entry to Turkey, as 32.3 percent of arrivals were handled by the coastal city’s air or maritime ports. In more good news for investors, Antalya airport has been officially crowned the ‘Best in Europe’ in the 10-25 million passenger category by the Airports Council International’s (ACI) European division. Operated by ICF Airports, Antalya Airport handled some 23 million passengers in 2010, a majority being international fliers. The news may encourage a number of individuals to consider  buying property in Antalya in an attempt to take advantage of the growing buy-to-let market.



Moreover, Antalya is also raising its profile in another income-generating industry: luxury yacht building.  The Antalya Free Zone Director General Zeki Gurses said that Antalya’s shipyards have commissioned 187 superyachts in 11 years and are scheduled to build 20 more by the end of 2011.

Friday, September 9, 2011

Turkey’s 2011 growth will reach 8.7 percent


An expanding economy and growing tourism sector is helping the Turkish property market from strength-to-strength.

According to a survey by the Turkish Industry and Business Association (TUSIAD), Turkey’s economy is expected to continue its strong growth in 2011. Turkey’s leading business organizations has revealed high expectations of GDP growth with  growth rate will be 6 percent at the end of the year and 5.2 percent in 2012, while the inflation rate is expected to remain at 7.4 percent for 2011 and reduce to 6.8 percent at the of 2012.

The World Bank’s President Robert Zoellick has said that Turkey’s success as one of the world’s fastest growing economies is admirable and the growth model is an example to be followed by other markets, The WB President said in a press conference in Ankara that Turkey has set a unique example of growth during times of difficulty for the world’s major economies. In the first quarter, Turkey’s GDP grew 11 percent making the country the world’s fastest growing economy for the period. While many developed economies had experienced downturns in 2010, the country experienced an 8.9 percent growth in 2010. Turkey’s 2011 growth will reach 8.7 percent according to IMF forecasts.

Noting that the country's economic program is “very strong,” Zoellick said that Turkey is focused on restructuring its economy with a strategic approach.   Meanwhile, Turkey’s rapidly growing economy also lifted the per capita income to levels observed in developed countries like the USA, Germany, Brazil and Russia, according to the Economist Intelligence Unit (EIU). Turkey has become the 6th country in the world to have a per capita income of over USD 10,000, with a population that exceeds 70 million.

In related news, Giles Beswick writing on his Select Property blog, has claimed that strong economic fundamentals and a growing tourism sector are helping to ensure that the property market in Turkey remains buoyant.

Friday, October 29, 2010

Turkey's growth in the coming decades will exceed the global average

The Turkish economy will grow at the highest rate among European countries by the end of this year and the next.

Speaking during a live interview at a TV channel, Ali Babacan, Turkey's Minister of Economy and Deputy Prime Minister said that the resilience of the Turkish banking sector against the shocks of the global economic crisis and praised this solid stance as one of the major factors helping Turkey to weather the crisis easily.

The minister said the contribution of the private sector to the country’s high growth performance is unquestionable, and also underlined that private consumption and investments are the major drivers of growth in Turkey.

Backed by record economic growth, the country’s Finance Minister Mehmet Simsek said that the Turkish government may have room to accelerate spending without breaching the target for the budget deficit. Turkey’s economic rebound has outpaced government projections. That may allow Turkey to invest more in developing its infrastructure, he said. “The targets are within reach, so we’ll deliver on that”, said Simsek which is good news for property investors.

Meanwhile, Sabancı Holding’s Chairwoman Guler Sabanci, The head of one of Turkey’s largest conglomerates has given an interview to Austrian Airlines’ Succeed magazinehas said that foreign investors late in investing in Turkey may miss great opportunities that the country has to offer. Sabanci indicated Turkey’s continuing efforts to draw foreign investments to the country, and replied that foreign companies not investing in Turkey are missing the chance to take part in one of the world’s fastest growing economies. She also said that Turkey’s growth in the coming decades will exceed the global average, and that the country will surpass today’s developed economies in Europe.

Friday, October 1, 2010

OECD 2010 report lauds Turkey's strong growth performance

Turkey's strong growth performance and economic stability is robust when most other members of the organization are facing financial difficulties.

The OECD's 2010 Turkey report praised turkey’s economic growth in recent times. The Secretary General of the Organization for Economic Co-operation and Development (OECD) Angel Gurria announced the findings of the OECD’s Turkey 2010 report that the cross-analysis of countries and regions predicts Turkey’s economy will remain strong, along with Germany, while the economies of the USA, Canada and Japan are expected to shrink.

He also said that Turkey's rating will soon be upgraded to investment grade and Turkey’s successful fiscal reforms implemented after 2002 made a great contribution to Turkey's success in dealing with the crisis which in turn made the country the strongest member of the OECD in 2010.

In good news for property investors in Turkey, The performance of the Turkish economy is once again drawing the attention of credit rating agencies with growth in double figures in the second quarter. Turkey, the only country whose credit ratings have been upgraded twice during the global economic crisis, may soon have another rating upgrade by Standard & Poor’s (S&P as they announced a possible rating upgrade for Turkey in the next 12-24 months and a growth expectation of 8 percent in 2010.

Monday, September 27, 2010

European Union foreign ministers hailed Turkey's growth prospects

Stating that Turkey will be the star of the emerging markets, Finnish Foreign Minister Alexander Stubb, hailed the EU candidate country as "one of the top five countries in the world today" with respect to foreign policy.

An informal meeting of the European Union foreign ministers held in Brussels recognized Turkey's strategic importance for the 27-nation bloc, including comments by those who have thus far had reservations about such recognition. Sweden's Carl Bildt said that there are certain countries which have fairly deep reservations, but even those countries recognize the strategic importance of Turkey to the EU. Estonian Foreign Minister Urmas Paet agreed, saying that EU states now realize that “there are two most important strategic partners: the US and Turkey.

According to the Emerging Trends in Real Estate, Europe 2010 report stated that Istanbul is at the top of the list of ‘City Development Prospects’ in Europe. The biggest city in Turkey is favored by real estate investors for its development potential and positive long term prospects. The report noted that with the leveling of the real estate prices and real estate investors head towards less risky markets, Turkey, especially Istanbul, which remains attractive due to its long term potential.

In related news, The report by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI) stated that out of a total of 27 cities in Europe, Istanbul has been ranked 5th in the ‘New Property Acquisitions list’ and 7th in 'City Investment Prospects: Existing Property Performance', on the back of investors preferring cities in Western Europe due their low-risk assessments.

Thursday, September 9, 2010

Ongoing privatizations are arousing considerable investor interest

Turkey's ongoing privatizations are arousing considerable investor interest while some of the Western economies such as the US, Greece, Spain, Portugal and Ireland still face a challenging future.

The Privatization Administration's announcement of privatization targets for 2010 have already been exceeded in the first eight months of the year. Ahmet Aksu, The Privatization Administration's Deputy President said the expected 2010 income privatizations for the year 2010 is around TRY 10.4 billion (approx. USD 6.8 billion) and that the first eight months’ tenders already accumulated USD 10 billion. “

Turkey's privatization offerings are attracting an increasing number of foreign investors. Mr. Ahmet Aksu said that Turkey is on track with the scheduled privatization projects, adding that foreign interest in privatization tenders was as high as ever despite the effects of the global financial crisis. He explained that Turkey's key geographical location and strong economy also appeals to foreign investors, particularly in real estate sector.

Meanwhile, Turkey's Industry and Trade Minister Nihat Ergun stated that Turkey’s potential is recognized by foreign investors and the country is slated to become an investment hotspot in the near future. The Turkish government intends to privatize highways and bridges in 2010. This long planned privatization scheme is expected to create an income of around USD 10 billion. Highways that are part of the privatization plans include the Edirne-Istanbul-Ankara highway, the Pozanti-Tarsus-Mersin highway, the Tarsus-Adana-Gaziantep highway, the Toprakkale-Iskenderun Highway, the Izmir-Ceşme highway, the Izmir-Aydin highway etc.

Friday, August 27, 2010

Antalya in high demand with tourists

Property investors with an interest in Turkish property market may be alerted by news that Antalya could become the epicentre for tourism in the country.

Irfan Onal, director of the Turkish Culture and Tourism Office UK, said that people are traveling to less well known areas to sample the natural delights and water sports on offer. He said that this popularity has led to several airlines increasing the number of flights to Turkey they offer, which could also benefit people with Antalya real estate Listings. Antalya is located on the south-western Mediterranean coast of Turkey and hosts numerous music and film festivals throughout the year.

According to Turkish news provider today’s Zaman, Huseyin Baraner, president of the Turkish Tourism Business Council said the popularity of Turkey to tourists is fuelling the European market, with Antalya at the centre. Antalya will become one of the most important tourism centers in the world. As Antalya's touristic sales increase impressively, competitors to the city are seeing slowdowns at the same rate.

Moreover, the Mediterranean's most popular holiday destination will soon have the largest botanic garden of Europe, adding another sightseeing spot to the tour maps of millions of tourists visiting the Turkish Riviera. The garden will span over 263 hectares of land and cost USD 15 million. The garden will be named Zeytin Park (Olive Garden), after the olive groves situated on the site.

The Botanic garden project will exhibit Antalya’s agricultural and botanical diversity, as well as its historical, cultural and ecological heritage to its visitors with various recreational activities.