Turkey aims to focus on high-speed train service in 2010
Monday, December 28, 2009
Turkish State Railways (TCDD) head Süleyman Karaman has announced that the directorate will work to improve the country's high-speed train services in 2010 with plans to invest around USD 3.5 billion next year.
"Turkey ranks eighth in railway technology worldwide and sixth in Europe. The TCDD will focus on high-speed trains in the new year," Karaman noted. Turkey launched the country's first high-speed train service between the Turkish capital province of Ankara and the Central Anatolian province of Eskisehir on March, 2009. TCDD is working to extend this line from Ankara to Konya in the south and from Eskisehir to Istanbul in the west. The high-speed trains features many luxuries, including entertainment screens for every seat that play movies and display the current position and speed of the train. Spacious seats offer plenty of room during the smooth ride. The train can reach speeds of 260 kilometers per hour and will considerably reduce hours-long trips.
He further said that work on the high-speed train line between Ankara and İstanbul is ongoing, as is work on the line between İstanbul and Eskişehir and this line will be operational in 2012 or 2013. He added that they will finish the line between Ankara and Konya in 2010 and Sivas project is continuing at the maximum pace. He also stated that they will renovate the country's railway lines in 2010. These rail developments will transform thousands of journeys, pushing up prices in existing commuter locations and creating new property hotspots along the way.
It is generally believed that improved rail services are unlikely to have as great and impact as new low-cost flights to previously little-known regions of the country, he nevertheless expressed his confidence that prices will rise, particularly in popular holiday destinations.The local market is picking up, being occupied now with the long summer holidays and new measures are now taking effect which leaves the market is wide open for overseas buyers to march in and grab something special in 2010.
Social Bookmarking"Turkey ranks eighth in railway technology worldwide and sixth in Europe. The TCDD will focus on high-speed trains in the new year," Karaman noted. Turkey launched the country's first high-speed train service between the Turkish capital province of Ankara and the Central Anatolian province of Eskisehir on March, 2009. TCDD is working to extend this line from Ankara to Konya in the south and from Eskisehir to Istanbul in the west. The high-speed trains features many luxuries, including entertainment screens for every seat that play movies and display the current position and speed of the train. Spacious seats offer plenty of room during the smooth ride. The train can reach speeds of 260 kilometers per hour and will considerably reduce hours-long trips.
He further said that work on the high-speed train line between Ankara and İstanbul is ongoing, as is work on the line between İstanbul and Eskişehir and this line will be operational in 2012 or 2013. He added that they will finish the line between Ankara and Konya in 2010 and Sivas project is continuing at the maximum pace. He also stated that they will renovate the country's railway lines in 2010. These rail developments will transform thousands of journeys, pushing up prices in existing commuter locations and creating new property hotspots along the way.
It is generally believed that improved rail services are unlikely to have as great and impact as new low-cost flights to previously little-known regions of the country, he nevertheless expressed his confidence that prices will rise, particularly in popular holiday destinations.The local market is picking up, being occupied now with the long summer holidays and new measures are now taking effect which leaves the market is wide open for overseas buyers to march in and grab something special in 2010.
Labels: Infrastructure
Turkey emerges as investment favorite
Friday, December 18, 2009
Turkey is a country that is rapidly emerging as a hotspot for overseas property investors, it has been stated.
In Dubai to open Akbank's office in the Dubai International Finance Center (DIFC), Suzan Sabanci Dincer, Akbank Chairman, has said Turkish companies can attract capital through professionalism.
"The Gulf countries have set their sights on Turkey", said Sabanci. "Fewer countries in the world are attracting investments. Turkey's young population and favorable average age are attracting interest. Foreign investors see Turkey as a bridge in this sense. I can see the possibility of Saudi Arabia investing in Turkey. " He added.
According to Mortgage Solutions-online, Mortgage expert with Conti Finance Michael Axelrod said that the country is "rising fast, becoming one of the top investment destinations in 2009". He also remarked that the country is tipped to see tourist numbers reach 30 million this year, stating that this is good news for holiday rentals investors as demand for these "will continue to outstrip supply".
Mr. Axelrod said his firm has seen a 65 per cent rise in applications for homeowner loans in the country, with Turkey benefiting from not being in the Euro zone and therefore being cheaper for UK buyers.
In related news, Atlas International recently cited Turkey as a popular location for investors looking to make purchases outside of the eurozone, as prices in the country are low compared to elsewhere in Europe.
Social BookmarkingIn Dubai to open Akbank's office in the Dubai International Finance Center (DIFC), Suzan Sabanci Dincer, Akbank Chairman, has said Turkish companies can attract capital through professionalism.
"The Gulf countries have set their sights on Turkey", said Sabanci. "Fewer countries in the world are attracting investments. Turkey's young population and favorable average age are attracting interest. Foreign investors see Turkey as a bridge in this sense. I can see the possibility of Saudi Arabia investing in Turkey. " He added.
According to Mortgage Solutions-online, Mortgage expert with Conti Finance Michael Axelrod said that the country is "rising fast, becoming one of the top investment destinations in 2009". He also remarked that the country is tipped to see tourist numbers reach 30 million this year, stating that this is good news for holiday rentals investors as demand for these "will continue to outstrip supply".
Mr. Axelrod said his firm has seen a 65 per cent rise in applications for homeowner loans in the country, with Turkey benefiting from not being in the Euro zone and therefore being cheaper for UK buyers.
In related news, Atlas International recently cited Turkey as a popular location for investors looking to make purchases outside of the eurozone, as prices in the country are low compared to elsewhere in Europe.
Labels: Latest-news
Turkey lures Hungarian businessmen
Friday, December 4, 2009
Turkish minister called on Hungarian businessmen and investors to establish partnerships with their Turkish counterparts in order to reach out to the world markets.
Nihat Ergun, Turkey's Industry and Trade Minister invited Hungarian businessmen and entrepreneurs to invest in Turkey. Speaking at the opening of the Turkey-Hungarian Business Council, he said Turkey is a country of opportunities with a competitive market and a liberal business and investment environment.
He also said that Turkey offers alluring opportunities for the businessmen in the region to access markets over a wide area, including Europe, the Middle East, Black Sea, Central Asia and the Gulf region. In reassuring news for overseas investors, he said that Turkey has strengthened its economy thanks to its solid monetary policies and the recent structural reforms. The country has removed all obstacles to investment, improved the business environment and made legal improvements to attract direct foreign investments.
The trade volume between the two countries in 2008 stood at EUR 1.334 billion. "Despite the recession caused by the global economic crisis, it is pleasing that the trade volume between Turkey and Hungary reached EUR 951 million in the first three quarters of 2009", he noted.
Meanwhile, Julian Walker, a spokesman for Spot Blue, a specialist in Turkish property, said: "Turkey is currently one of the best destinations for those looking to invest in overseas property. The country is also one of the few logical choices for those seeking to balance lifestyle and financial advantage in their retirement."
According to recent figures, more than 20,000 homes in the country are currently owned by investors from the UK. It has been reported that the weakening pound could lead to a slew of Britons looking to buy property outside of the eurozone, with Turkey being one of the obvious choices.
Social BookmarkingNihat Ergun, Turkey's Industry and Trade Minister invited Hungarian businessmen and entrepreneurs to invest in Turkey. Speaking at the opening of the Turkey-Hungarian Business Council, he said Turkey is a country of opportunities with a competitive market and a liberal business and investment environment.
He also said that Turkey offers alluring opportunities for the businessmen in the region to access markets over a wide area, including Europe, the Middle East, Black Sea, Central Asia and the Gulf region. In reassuring news for overseas investors, he said that Turkey has strengthened its economy thanks to its solid monetary policies and the recent structural reforms. The country has removed all obstacles to investment, improved the business environment and made legal improvements to attract direct foreign investments.
The trade volume between the two countries in 2008 stood at EUR 1.334 billion. "Despite the recession caused by the global economic crisis, it is pleasing that the trade volume between Turkey and Hungary reached EUR 951 million in the first three quarters of 2009", he noted.
Meanwhile, Julian Walker, a spokesman for Spot Blue, a specialist in Turkish property, said: "Turkey is currently one of the best destinations for those looking to invest in overseas property. The country is also one of the few logical choices for those seeking to balance lifestyle and financial advantage in their retirement."
According to recent figures, more than 20,000 homes in the country are currently owned by investors from the UK. It has been reported that the weakening pound could lead to a slew of Britons looking to buy property outside of the eurozone, with Turkey being one of the obvious choices.
Labels: Overseas-property
