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Monday, 12 September 2016

Coup and wars no deterrent for Turkey realty | GulfNews.com

Coup and wars no deterrent for Turkey realty | GulfNews.com:

"For one of Turkey’s real estate giants, a coup attempt and a war on its borders are details of history — it is rather more focused on another number and which would have far more relevance to the country’s real estate sector going forward.
“Last year, about 60 per cent of foreign investors who acquired property in Turkey came from the Middle East or Islamic countries,” said Burak Kutlug, Chief Business Development Officer at Agaoglu, the developer of the Istanbul International Financial Centre featuring six office towers and one residential on an area of 303,000 square metres. “I believe that come next year we can reasonably expect a major upturn in investor interest in the country — the coup and the conflicts are concerns, yes … but strictly short-term.
“We keep committing major investments — $3 billion (Dh11 billion) on property development — knowing that Middle East investors will keep finding Turkey the ideal place to be in Europe given the Islamic phobia that is there in so many countries.”"



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