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GCC investors must consider tie ups with Turkish firms
Gulf investors who have their sights set on the booming Turkish real estate sector must consider partnering with those that know the market well rather than go it alone, said a top property consultant from the country.

“Investors in the Gulf countries are profoundly interested in Turkish real estate, however when they cannot make true contacts and communicate with professionals, serious problems occur. As a result, the reputation of the whole sector is besmirched,” stated Tolga Han, the international VP of Projebeyaz International.

Han was speaking on the sidelines of Cityscape Global expo being held at the Dubai World Trade Centre.

He pointed out that while Turkey presented unlimited potential for high capital gain, but risks remained if GCC investors did not make the right initial connections.

One of 30 Turkish exhibitors at Cityscape Global, Projebeyaz International is showcasing some of the most high profile real estate developments currently on the market in the Southeast European nation, as they look to establish partnerships with locally based real estate agents.

These include the $450 million Trump Tower; the $250 million Çengelköy Villas; the $1.5 billion Maçka Residence; the $90 million Güneşli Residence; the $20 million Marmaroom residences, and the $180 million Kempinski Residences Astoria, all located in Istanbul.

“Most of the properties we manage are located in Istanbul, but we have properties all over Turkey, and we also offer prime office and commercial space in some of the most sought after areas of the country, such as Helis Metro Ofis in Kartal; Esas Aeropark in Kurtköy, and Istinye Park Mall in Istanbul.” he added.

Han also expressed interest in opening a new office at Dubai in partnership with other Turkish real estate companies. “We can also open offices here later, however we think that there will be no need for this if we can make true connections. We hope to create an option beneficial for everyone," he stated.

Currently 15 per cent of total sales at Projebeyaz International come from the Middle East and the company plans to increase this figure to 50 per cent over the next three years, he added.
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