Forum Istanbul, the largest shopping mall in Europe
Friday, November 27, 2009
Forum Istanbul, the largest shopping and lifestyle center in Europe was opened on November 17th in Bayrampaşa, near the center of Istanbuls European side. Generating employment for 5,000 persons, Forum Istanbul aims to draw 25 million visitors per year and a targeted annual turnover of €500 million.
Developed by Multi Turkmall, Forum Istanbul is the seventh project in Turkey and the first in Istanbul of Multi Turkmall. The construction of Forum Istanbul was completed by a total investment of €750 Million during the global economic crisis. Forum Istanbul consists of 495,000 m² total construction area, 175,000 m² rentable space, 265 national and international brands.
Speaking during the complex’s opening ceremony; Multi Turkmall CEO Levent Eyüboglu said that including the stores’ investments, the total figure for the complex adds up to 1 billion euros. The shopping center stands on an area of 495,000 square meters and will employ 6,000 people. “We had never made such an effort as we did to build this shopping complex,” he said. “I doubt we can ever do anything better and more beautiful than Forum Istanbul.”
In good news for rental property investors, Forum Istanbul intends to play an important role also in the cultural, artistic, entertainment and social life of Istanbul, and has already started to host national and international events. The “50 Years with Barbie and Lego Exhibition”, featuring hundreds of Barbie dolls and giant sized Lego installations which is exhibited in more than 40 cities has opened in Forum Istanbul. The exhibition, which will remain open until January 24th, 2010.Another is the Fish in Color Exhibition. This will remain open until December 17th, 2009, and showcases the work of Sculptor; Server Demirtas and his team.
Meanwhile, Culture and Tourism Minister Ertuğrul Günay said that Forum Istanbul is a very suitable investment for the city and he added that The ministry will continue to give full support to “forum” projects that are being constructed all over Turkey.
On his part, Bayrampaşa Mayor Hüseyin Bürge said he had always dreamed of his district being remembered for something other than the Bayrampaşa jail. “Finally, with this project, my dream has become real.”
Social BookmarkingDeveloped by Multi Turkmall, Forum Istanbul is the seventh project in Turkey and the first in Istanbul of Multi Turkmall. The construction of Forum Istanbul was completed by a total investment of €750 Million during the global economic crisis. Forum Istanbul consists of 495,000 m² total construction area, 175,000 m² rentable space, 265 national and international brands.
Speaking during the complex’s opening ceremony; Multi Turkmall CEO Levent Eyüboglu said that including the stores’ investments, the total figure for the complex adds up to 1 billion euros. The shopping center stands on an area of 495,000 square meters and will employ 6,000 people. “We had never made such an effort as we did to build this shopping complex,” he said. “I doubt we can ever do anything better and more beautiful than Forum Istanbul.”
In good news for rental property investors, Forum Istanbul intends to play an important role also in the cultural, artistic, entertainment and social life of Istanbul, and has already started to host national and international events. The “50 Years with Barbie and Lego Exhibition”, featuring hundreds of Barbie dolls and giant sized Lego installations which is exhibited in more than 40 cities has opened in Forum Istanbul. The exhibition, which will remain open until January 24th, 2010.Another is the Fish in Color Exhibition. This will remain open until December 17th, 2009, and showcases the work of Sculptor; Server Demirtas and his team.
Meanwhile, Culture and Tourism Minister Ertuğrul Günay said that Forum Istanbul is a very suitable investment for the city and he added that The ministry will continue to give full support to “forum” projects that are being constructed all over Turkey.
On his part, Bayrampaşa Mayor Hüseyin Bürge said he had always dreamed of his district being remembered for something other than the Bayrampaşa jail. “Finally, with this project, my dream has become real.”
Labels: Istanbul
EU economic report boost Turkish property
Thursday, November 26, 2009
Increasing numbers of visitors, a new list of reputable real estate agents and the news that Turkey set to become the fastest growing country in Europe in 2010 with a 2.8 percent growth rate are set to give Turkey's property market a boost.
European Commission's economic forecast report for fall has estimated that Turkey would shrink 5.8 percent this year and the growth rate would climb up to 3.6 percent in 2011. The commission report said unemployment would rise to 13.9 percent in 2010 and fall to 13.5 percent in 2011. Tourism officials expect the number of tourists to increase significantly in 2009 and again in 2010 when Istanbul becomes European Capital of Culture.
According to the World Tourism Organization (WTO), Tourism grew 1.47 percent in Turkey as shrinking 7 percent in the world in the January-July period of 2009. Overall figures from the Turkish tourism department indicate that visitor numbers are predicted to rise by 10% this year bringing in billions of dollars worth of revenue.
Tourism minister Ertugrul Gunay said that Tourism grew 1.47 percent in Turkey in the same period with number of tourists rising up to 21.8 million. Number of tourists increased only in Turkey among the ten most popular tourism destinations in the world.
Further good news for Turkish property investors is the property prices have been falling like many other parts of Europe and are set to become even more attractive to foreign real estate investors especially those from the UK as the pounds continues to be weak against the euro and the dollar.
Social BookmarkingEuropean Commission's economic forecast report for fall has estimated that Turkey would shrink 5.8 percent this year and the growth rate would climb up to 3.6 percent in 2011. The commission report said unemployment would rise to 13.9 percent in 2010 and fall to 13.5 percent in 2011. Tourism officials expect the number of tourists to increase significantly in 2009 and again in 2010 when Istanbul becomes European Capital of Culture.
According to the World Tourism Organization (WTO), Tourism grew 1.47 percent in Turkey as shrinking 7 percent in the world in the January-July period of 2009. Overall figures from the Turkish tourism department indicate that visitor numbers are predicted to rise by 10% this year bringing in billions of dollars worth of revenue.
Tourism minister Ertugrul Gunay said that Tourism grew 1.47 percent in Turkey in the same period with number of tourists rising up to 21.8 million. Number of tourists increased only in Turkey among the ten most popular tourism destinations in the world.
Further good news for Turkish property investors is the property prices have been falling like many other parts of Europe and are set to become even more attractive to foreign real estate investors especially those from the UK as the pounds continues to be weak against the euro and the dollar.
Labels: Latest-news, Market-Trends
Turkey will continue to attract more foreign direct investments
Tuesday, November 17, 2009
The present time offers a good opportunity for overseas investors to invest in Turkish properties, it has been stated.
Recep Tayyip Erdogan, Turkey’s Prime Minister announced that Turkey attracted investments of around USD 6 billion in the first eight months of 2009. Mr. Erdogan said during a meeting at the Investment Support and Promotion Agency of Turkey (ISPAT) that Turkey will continue to attract more direct investments as the global crisis has been overcome.
Erdogan also added that Turkey has become a center of attraction for investments, thanks to its radical reforms, stability and strong economy. There are 22,821 international companies in Turkey, including 12,463 from European countries and 3,888 from the near and Middle Eastern countries, which is good news for those looking properties in Turkey.
Meanwhile, M Bahadir Teker, Founder of broker Istanbul Mortgage said that the country is currently enjoying a favorable combination of affordability, lower interest rates and a plentiful supply of mortgages, according to Financial times reports.
He commented: "We're going to see growth next year and new development opportunities arising mid-year, so I think now is a good time to buy."
In related news, Didim today suggested that Altinkum is a good place to invest in during 2010. The resort is good for tourist rental because it appeals not just to the overseas sector made up mainly of Britons and Germans, but also Turks looking for domestic breaks.
Social BookmarkingRecep Tayyip Erdogan, Turkey’s Prime Minister announced that Turkey attracted investments of around USD 6 billion in the first eight months of 2009. Mr. Erdogan said during a meeting at the Investment Support and Promotion Agency of Turkey (ISPAT) that Turkey will continue to attract more direct investments as the global crisis has been overcome.
Erdogan also added that Turkey has become a center of attraction for investments, thanks to its radical reforms, stability and strong economy. There are 22,821 international companies in Turkey, including 12,463 from European countries and 3,888 from the near and Middle Eastern countries, which is good news for those looking properties in Turkey.
Meanwhile, M Bahadir Teker, Founder of broker Istanbul Mortgage said that the country is currently enjoying a favorable combination of affordability, lower interest rates and a plentiful supply of mortgages, according to Financial times reports.
He commented: "We're going to see growth next year and new development opportunities arising mid-year, so I think now is a good time to buy."
In related news, Didim today suggested that Altinkum is a good place to invest in during 2010. The resort is good for tourist rental because it appeals not just to the overseas sector made up mainly of Britons and Germans, but also Turks looking for domestic breaks.
Labels: Investment-property
New terminal in Istanbul airport set to boost tourism
Tuesday, November 10, 2009
Istanbul property market should receive a much needed boost from greater tourism levels, which are expected to increase, when the new Terminal Istanbul is opened in Sabiha Gokcen International Airport.
The city has two airports; one on the European and Sabiha Gokcen International Airport on the Asian side. The Turkish government is also working on the undersea link via metro to enhance connectivity with the Asian side. The terminal, built in a record time of 18 months, was inaugurated by Turkey's Prime Minister Recep Tayyip Erdogan. "With the opening of this airport terminal building, a new era for economic partnerships has begun. This has opened many more avenues for the Indian and Turkish companies to join hands", said India’s Minister of Civil Aviation, Praful Patel, during the inauguration ceremony.
The new terminal will become fully operational on November 9 and it currently handles five million passengers annually. Turkish Airlines will begin its flights to seven new European destinations including London, Moscow, Amsterdam and Berlin. ris bin Othman, Chairman of Malaysian Airports said that Malaysian Airlines also plans to start operating three times a week to the new airport.
Turkey's Prime Minister Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. He added that the government has plans to construct several new airports in Istanbul which is good news for rental property investors. Despite being the economic and cultural hub of Turkey - the city is also expected to be named the European Capital of Culture in 2010.
Social BookmarkingThe city has two airports; one on the European and Sabiha Gokcen International Airport on the Asian side. The Turkish government is also working on the undersea link via metro to enhance connectivity with the Asian side. The terminal, built in a record time of 18 months, was inaugurated by Turkey's Prime Minister Recep Tayyip Erdogan. "With the opening of this airport terminal building, a new era for economic partnerships has begun. This has opened many more avenues for the Indian and Turkish companies to join hands", said India’s Minister of Civil Aviation, Praful Patel, during the inauguration ceremony.
The new terminal will become fully operational on November 9 and it currently handles five million passengers annually. Turkish Airlines will begin its flights to seven new European destinations including London, Moscow, Amsterdam and Berlin. ris bin Othman, Chairman of Malaysian Airports said that Malaysian Airlines also plans to start operating three times a week to the new airport.
Turkey's Prime Minister Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. He added that the government has plans to construct several new airports in Istanbul which is good news for rental property investors. Despite being the economic and cultural hub of Turkey - the city is also expected to be named the European Capital of Culture in 2010.
Labels: Infrastructure, Istanbul
Turkish Investment Summit in London
Sunday, November 1, 2009
The Turkish Investment Summit was organized at the Renaissance Chancery Court Hotel in London which provided plenty of time for social networking, acquiring new contacts and discussing business with potential partners in Turkey.
The Turkish Embassy in London and the European Bank for Reconstruction and Development (EBRD) are jointly organized the "Investment Summit" . In good news for overseas property investors in Turkey, The Turkish Investment Summit will provide an in-depth look into the global and domestic outlook for Turkey, including a spotlight on European Union accession.
The summit was attended by Turkish Finance Minister Mehmet Şimşek, Varel Freeman, EBRD first vice president; Alpaslan Korkman, chairman of the Investment Support and Promotion Agency of Turkey; and Tevfik Aksoy, an economist at Morgan Stanley in London are also among the key speakers of the summitother topics included in the summit are maximizing Turkey's energy potential with a special focus on renewable energy sources, a review of Turkey's best investment opportunities, an in-depth look at real estate; infrastructure; and banking, finance and private equity.
Speaking at the event, Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), said that Turkey is attracting foreign investments. He pointed out that many investors in Europe will be feeling uneasy about investing for the coming decade and it will take at least 4-5 years for the US economy to rebound. He commented "Turkey is emerging as a new destination for investments and we will see investor interest surge by the next year".
Social BookmarkingThe Turkish Embassy in London and the European Bank for Reconstruction and Development (EBRD) are jointly organized the "Investment Summit" . In good news for overseas property investors in Turkey, The Turkish Investment Summit will provide an in-depth look into the global and domestic outlook for Turkey, including a spotlight on European Union accession.
The summit was attended by Turkish Finance Minister Mehmet Şimşek, Varel Freeman, EBRD first vice president; Alpaslan Korkman, chairman of the Investment Support and Promotion Agency of Turkey; and Tevfik Aksoy, an economist at Morgan Stanley in London are also among the key speakers of the summitother topics included in the summit are maximizing Turkey's energy potential with a special focus on renewable energy sources, a review of Turkey's best investment opportunities, an in-depth look at real estate; infrastructure; and banking, finance and private equity.
Speaking at the event, Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), said that Turkey is attracting foreign investments. He pointed out that many investors in Europe will be feeling uneasy about investing for the coming decade and it will take at least 4-5 years for the US economy to rebound. He commented "Turkey is emerging as a new destination for investments and we will see investor interest surge by the next year".
Labels: British
