Market news

Istanbul - the most attractive city in Europe in real estate sphere

21.02.2012

Istanbul has become the most attractive European city in real estate sphere. According to research conducted by 600 specialists of ULI and PwC organizations, Istanbul will soon become even more successful city in real estate sphere, going ahead such cities as Rome, London and Paris. Athens is settled at the bottom of the list.

Istanbul, called in ancient times "the golden land, the golden stones", in nearest future will attract the attention of investors from around the world. In 2012 Istanbul will become the most attractive European city of the real estate market. According to Emerging Trends Real Estate-2012 (ETRE) report, made by Urban Land Institute (ULI), together with the international consulting company PricewaterhouseCooper (PwS), in 2012 Istanbul will head the list of the the most attractive European cities for international investments. According to research conducted by 600 of leading specialists in the international real estate sector in many European states, Istanbul has already secured the championship in the field of investment and development. Strong and quick economical growth makes Istanbul very much popular city. In addition, a large percentage of young people allowed Istanbul to be at the Top of the list.

Leadership in three other fields

Istanbul received the highest scores in such categories as “existing investments”, “new investments” and “development”. In “existing investments” category Istanbul scored 3.83 from 5, in "new investments" - 3.82, in "development" - 4.03. The next following cities after Istanbul are: Munich, Warsaw, Berlin and Stockholm. In the present list Paris took in sixth place, London - tenth, Madrid - twenty-first. Among 27 cities with an average level of 1.6 points, the "capital" of European crisis Athens holds the last position in the list.

«Reciprocity» will become more successful

The report showed Istanbul to be at the leading positions due to higher customers’ payment level and large amounts of incoming investment from international companies. 69% from 600 executives have made very optimistic projections about Istanbul and reported about the increase in profits. Opening the way for foreign citizens to Turkish real estate market, the success of Reciprocity Principle Abolition Law will go high up after it improves the positions of Istanbul in Europe.

More developed, more attractive

World "giants" came to the Turkish market after finding about its rapid economic growth. Italian company Amplifon – the international leader in hearing aids production – has bought famous Maxtone Company, the head office of which is situated in Istanbul. The Amplifon Company includes 3,000 stores in 19 countries with over 10,000 of employee. The Company General Director Franco Mosketti told that they came into the Turkish market after purchasing the mentioned above Maxtone Company due to the rapid growth of Turkish economy and its powerful structure which attracts the attention of the world society to this country. Mosketti has also noted that, since 2002 to 2010 the Turkish hearing aid market grew up in 4 times - from 25,000 units up to 100,000 units. That’s why the purchase of 51% of Maxtone Company shares means getting a great partnership.

Over 100 of new shops and supermarkets will be opened soon

The founder and General Director of Maxtone Company, which was founded in 2007 and the first shop of which was opened in 2009, Mr. Ersin Ori said that within two years 8 new shops will be opened in Ankara and Izmir, plus to this in the nearest future same types of shops are planned to be opened in Bursa and Adana. Noting that the cooperation of Maxton and Amplifon Companies is very important moment for the Italian business firm, Mr. Ersin Ori added: “The number of branches will grow up in the future. At the end of our meeting with the leaders of the Italian company, we are planning to conduct a joint acquisition”.

BNY Mellon – another great partner

Among the partners of Amplifon Company main attention should be paid to organization which concluded the past year with sales on a sum of 1 billion EURO and which together with the Tamburi Investment Trade Bank (famous for its cooperation with different Italian investment companies), is well-known in financial market. Newton Investment Co – a branch investment enterprise of American bank with a capital of one trillion dollars and 48,000 of employee working there. This is the third largest partner of Amplifon Company. Thus, BNY Mellon Bank, which had no investments in Turkey ever before, become an active participant of the Turkish hearing aids market.

2012: Capital Partners Fund starts to work actively

212 Capital Partners Investment Fund started to work actively in 2012 conducting the second investment program in this area since the beginning of the year. 212 Capital Partners Investment Fund became a partner of Balerin.com Company, which works in Turkish market in a field of cosmetics retail sale over the Internet. 212 Capital Partners Fund, which conducted the first investment into Butigo.com Co, founded in December 2011, has drawn the attention due to fact of being the largest investment fund. In the present time currently 212 Capital Partners Fund is providing the start-up capital for different firms and companies that are working in Internet and High technology sphere of rapidly growing up Turkish market.



E-mail:
Password:
Forget password?
Registration