A surge of Gulf interest in Turkish property has prompted developer Agaoglu to open offices in Dubai to exploit these flourishing commercial links, writes Simeon Kerr.
Ali Agaoglu, president of the developer, says his company has since May sold about 1,300 Istanbul units to investors from Saudi Arabia, the United Arab Emirates and other Gulf states. Continue reading »
It doesn’t take much familiarity with global property markets to work out that the concept of risk-free real estate development is, well, pure fantasy. Investment risk is like death and taxes: unavoidable, isn’t it?
Perhaps not if the interest in a planned secondary offering and capital expansion by Turkey’s Emlak Konut is anything to go by. The sale is worth noting given that Emalk’s's unusual business model has to a large extent done the seemingly impossible – eliminated most the risk associated with the development of the mega housing projects required to meet the needs of Turkey’s growing population and booming economy, but not at the expense of profitability. Continue reading »