Foreign investors are awaiting Turkish public offerings
Friday, October 23, 2009
Foreign and domestic investors are awaiting initial public offerings of large Turkish companies, according to Huseyin Erkan, President of the Istanbul Stock Exchange (IMKB).
Mr. Erkan said that it is the perfect time for initial public offerings. The Privatization Administration should definitely consider making an initial public offering. He noted that it is appealing for foreign investors that Turkey has managed the crisis well and performed admirably.
In a landmark development, the Athens Stock Exchange and the Istanbul Stock Exchange have announced the creation of an index with the 30 largest companies, 15 of the largest and most heavily traded companies from each market. The number of stocks from the banking sector will be limited to four from each market to boost trading in the region’s largest stock markets.
"The GT-30 will certainly add further visibility to both markets, which is a significant contribution at a time when the world markets are gradually recovering from the financial turmoil”, said Mr. Erkan.
He commented: “If large companies are offered to the public now, I expect the demand to be high. An initial public offering for one or two medium-size or large-scale companies may take place through the end of the year. The significant initial public offerings are likely to take place in 2010.”
In good news for Istanbul property investors, Ali Babacan, Turkey's State Minister and Deputy Prime Minister, said the vision of the government is to make Istanbul initially a regional and eventually a “global finance center”. He enumerated those factors as low business running costs, qualified labor force, domestic and regional economic growth potential, and attractive style of living.
Due to the huge FDI inflows, Construction activity is booming in and around Istanbul and along Turkey’s enormous coastline. Buoyed by a supply of quality residential property, a growing retail sector and increases in disposable income and employment opportunities, the demand for property seems set to continue. Istanbul has great investment potential as growing population and economic growth has lead to high price rises in recent years. Also locals are involved in the property market which means there is excellent resell market and exit strategy. So now would be an ideal time to purchase off-plan property in the city.
Social BookmarkingMr. Erkan said that it is the perfect time for initial public offerings. The Privatization Administration should definitely consider making an initial public offering. He noted that it is appealing for foreign investors that Turkey has managed the crisis well and performed admirably.
In a landmark development, the Athens Stock Exchange and the Istanbul Stock Exchange have announced the creation of an index with the 30 largest companies, 15 of the largest and most heavily traded companies from each market. The number of stocks from the banking sector will be limited to four from each market to boost trading in the region’s largest stock markets.
"The GT-30 will certainly add further visibility to both markets, which is a significant contribution at a time when the world markets are gradually recovering from the financial turmoil”, said Mr. Erkan.
He commented: “If large companies are offered to the public now, I expect the demand to be high. An initial public offering for one or two medium-size or large-scale companies may take place through the end of the year. The significant initial public offerings are likely to take place in 2010.”
In good news for Istanbul property investors, Ali Babacan, Turkey's State Minister and Deputy Prime Minister, said the vision of the government is to make Istanbul initially a regional and eventually a “global finance center”. He enumerated those factors as low business running costs, qualified labor force, domestic and regional economic growth potential, and attractive style of living.
Due to the huge FDI inflows, Construction activity is booming in and around Istanbul and along Turkey’s enormous coastline. Buoyed by a supply of quality residential property, a growing retail sector and increases in disposable income and employment opportunities, the demand for property seems set to continue. Istanbul has great investment potential as growing population and economic growth has lead to high price rises in recent years. Also locals are involved in the property market which means there is excellent resell market and exit strategy. So now would be an ideal time to purchase off-plan property in the city.
Labels: Investment-property, Latest-news
Government plans to make Istanbul an international finance hub
Thursday, October 22, 2009
The international community has full confidence in Turkey's economic policies and investors interest in Turkey is rising, said the country’s Deputy Prime Minister and Economy Minister Ali Babacan.
According to Hurriyet Daily News reports, the Deputy Prime Minister said that Istanbul hosted all the prominent actors of the global economy, these meetings can also be considered as the world's largest fair of finance and economy." He also noted that Turkish economic officials had the chance to meet executives of international rating agencies and informed them about Turkey's strong economic structure and its good macroeconomic performance in recent years. Turkish real estate owners have been boosted by the news that government to announce an action plan to make Istanbul an international finance hub.
Robert Hormats, Undersecretary for Economic, Energy and Agricultural Affairs at the US Department of State, said that his country is impressed with Turkey's economic achievements. Mr. Hormats said Turkey is an important economic partner of the United States in addition to the long-standing strategic alliance and he added that one of the reasons for their visit to Turkey is to increase trade and investments between the two countries, and that the United States sees Turkey as a strong economic partner, rather than just a security or strategic partner.
Buying property in Turkey could be a lucrative move as Turkey's Privatization Administration signals that the country will see a rapid privatization process in the upcoming period. As the Turkish economy bounces back, Financial analysts said that the growth next year have altered their figures to reflect a more positive outcome than originally thought. As the country continues to pull through the recession, analysts have expanded their projections for the gross domestic product of the country and Turkey could pass through real estate boom next year that haven't seen in generations."
In related news, Rudi Thomaes, President of the Federation of Belgian Enterprises, said, "We should talk about Turkey instead of China because Turkey is among 11 countries that have a bright future." He added that, as Belgian businessmen, they have also witnessed positive improvements in Turkey.
Social BookmarkingAccording to Hurriyet Daily News reports, the Deputy Prime Minister said that Istanbul hosted all the prominent actors of the global economy, these meetings can also be considered as the world's largest fair of finance and economy." He also noted that Turkish economic officials had the chance to meet executives of international rating agencies and informed them about Turkey's strong economic structure and its good macroeconomic performance in recent years. Turkish real estate owners have been boosted by the news that government to announce an action plan to make Istanbul an international finance hub.
Robert Hormats, Undersecretary for Economic, Energy and Agricultural Affairs at the US Department of State, said that his country is impressed with Turkey's economic achievements. Mr. Hormats said Turkey is an important economic partner of the United States in addition to the long-standing strategic alliance and he added that one of the reasons for their visit to Turkey is to increase trade and investments between the two countries, and that the United States sees Turkey as a strong economic partner, rather than just a security or strategic partner.
Buying property in Turkey could be a lucrative move as Turkey's Privatization Administration signals that the country will see a rapid privatization process in the upcoming period. As the Turkish economy bounces back, Financial analysts said that the growth next year have altered their figures to reflect a more positive outcome than originally thought. As the country continues to pull through the recession, analysts have expanded their projections for the gross domestic product of the country and Turkey could pass through real estate boom next year that haven't seen in generations."
In related news, Rudi Thomaes, President of the Federation of Belgian Enterprises, said, "We should talk about Turkey instead of China because Turkey is among 11 countries that have a bright future." He added that, as Belgian businessmen, they have also witnessed positive improvements in Turkey.
Labels: Istanbul, Turkish-property
Government is planning to construct new airports in Istanbul
Thursday, October 8, 2009
Addressing the opening session of the 10th Transportation Council in Istanbul, Turkish Prime Minister Recep Tayyip Erdogan said that his government is planning to construct several new airports in Istanbul.
Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. There are currently two airports in the city, Atatürk Airport is on the European side and Sabiha Gokcen is on the Asian side. Erdogan said, "The existing airports cannot meet the growing demand for air travel. A new terminal building will be inaugurated on Oct. 31.
However, this is not sufficient either. We have to construct several new airports in Istanbul."
Despite being the economic and cultural hub of Turkey - the city is expected to be named the European Capital of Culture in 2010. Istanbul's population is currently growing by 1.5 per cent a year, and with all this in mind, it is no real surprise that property investors looking to take advantage of the city's potentially rewarding rental yields.
According to the International Investor's Association, foreign investment in Istanbul property is estimated to reach an all-time high this year, with more than $15 billion set to be spent. Justin Walker from Spot Blue says, "There are a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".
In related news, a recent PriceWaterhouseCoopers and Urban Land Institute survey officially named Istanbul as the second-best place in the world to invest in property, with affordable property prices, cheap living costs and decent rental yields.
Social BookmarkingErdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. There are currently two airports in the city, Atatürk Airport is on the European side and Sabiha Gokcen is on the Asian side. Erdogan said, "The existing airports cannot meet the growing demand for air travel. A new terminal building will be inaugurated on Oct. 31.
However, this is not sufficient either. We have to construct several new airports in Istanbul."
Despite being the economic and cultural hub of Turkey - the city is expected to be named the European Capital of Culture in 2010. Istanbul's population is currently growing by 1.5 per cent a year, and with all this in mind, it is no real surprise that property investors looking to take advantage of the city's potentially rewarding rental yields.
According to the International Investor's Association, foreign investment in Istanbul property is estimated to reach an all-time high this year, with more than $15 billion set to be spent. Justin Walker from Spot Blue says, "There are a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".
In related news, a recent PriceWaterhouseCoopers and Urban Land Institute survey officially named Istanbul as the second-best place in the world to invest in property, with affordable property prices, cheap living costs and decent rental yields.
Labels: Infrastructure, Istanbul
