{"id":24887,"date":"2016-09-04T22:29:49","date_gmt":"2016-09-04T15:29:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=24887"},"modified":"2016-09-04T20:53:31","modified_gmt":"2016-09-04T13:53:31","slug":"developer-agaoglu-hopes-for-turkish-property-market-recovery","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-agaoglu-hopes-for-turkish-property-market-recovery\/","title":{"rendered":"Developer Agaoglu hopes for Turkish property market recovery"},"content":{"rendered":"


\n The developer behind the Istanbul International Financial Center hopes the battered Turkish property market will rebound next year despite a series of terror attacks and a recent coup attempt.During the first seven months of the year, the number of home sales to foreigners dropped to 10,535 from 12,475 during the same period last year, according to Turkish Statistical Institute.”We had four elections in the last two years, we in the domestic real estate market were concerned, but as the picture is clear now, we are expecting a recovery,” said Ali Agaoglu, the chairman and founder of Agaoglu Group of Companies. “The investors are more eager to invest now, and we are here to explain the situation of stability in Turkey.”In August, the company sold US$170 million worth of residential and office units, with about 20 per cent coming from foreign investors. Last August, it made a quarter of the amount in sales, according to Mr Agaoglu.He was in town to showcase the project at the three-day Cityscape Global Dubai, which starts on Tuesday.The Istanbul International Financial Center, which includes six commercial towers, one residential tower, a cinema, a conference centre and retail space, is under construction with about half of the work complete.To boost investor sentiment, Turkey introduced a real estate investment fund last year as an instrument to invest in ready assets. These are free from corporate tax, are audited and controlled by the state and independently managed by an asset manager.Agaoglu expects to invite minority investors to buy shares in a similar fund once the centre is complete. Asset management firm Ak Portf\u00f6y established Turkey’s first real estate fund earlier this year.Of the 3 million square metres of IIFC, Agaoglu owns the private development part of 1 million square metres. The rest is owned by the state-owned banks and government entities such as the Central Bank of the Republic of Turkey, Halk Bank, Vak\u0131flar Bank, Ziraat Bank, Capital Markets Board of Turkey, and Banking Regulation and Supervision Agency.Agaoglu is also showcasing its Central Park residential project in Istanbul at Cityscape Global with 1,150 units. These are expected to come to the market in November with a total value of between US$1.2 billion and $1.5bn. In Turkey there were at least six terror attacks between January and August, including a gun attack in June at Ataturk International Airport in Istanbul where 40 people were killed. Tourist arrivals have slowed. During the first half Turkey received 3.8 million tourists, down from 4.3 million tourists a year earlier.ssahoo@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Developer Agaoglu hopes for Turkish property market recovery<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The developer behind the Istanbul International Financial Center hopes the battered Turkish property market will...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24887","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6tp","jetpack-related-posts":[{"id":96265,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/market-report-fresh-sanctions-threat-from-us-knocks-recovery-of-turkish-lira\/","url_meta":{"origin":24887,"position":0},"title":"Market report:\u00a0Fresh sanctions threat from US knocks recovery of Turkish lira","date":"August 18, 2018","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Market report:\u00a0Fresh sanctions threat from US knocks recovery of Turkish lira","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23045,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-denies-reports-over-1bn-megaproject-in-turkish-city\/","url_meta":{"origin":24887,"position":1},"title":"Emaar denies reports over $1bn megaproject in Turkish city","date":"August 16, 2016","format":false,"excerpt":"\r Dubai developer says \u201ccurrently not building\u201d projects in Black Sea resort of Trabzon\r \r Source : arabianbusiness.com\r Read more...Emaar denies reports over bn megaproject in Turkish city","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10408,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-and-rixos-reported-to-be-involved-in-turkish-theme-park-talks\/","url_meta":{"origin":24887,"position":2},"title":"Emaar and Rixos reported to be involved in Turkish theme park talks","date":"April 11, 2016","format":false,"excerpt":"\r \r The Dubai developer Emaar Properties is said to be in talks with the Turkish hotel group Rixos to partner in a theme park project in Turkey, according to Turkish media reports. Emaar did not confirm the talks or disclose details. \"Appropriate disclosures are made only subsequent to finalisation\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22143,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-ori-response-fuels-hong-kong-home-recovery-hopes\/","url_meta":{"origin":24887,"position":3},"title":"Strong Ori response fuels Hong Kong home recovery hopes","date":"August 6, 2016","format":false,"excerpt":"\r Developer Nan Fung\u2019s Ori in Tuen Mun drew a strong response from homebuyers on the first day of sales yesterday, a sign of recovering sentiment in the local \u00adproperty market.\r \r Source : South China Morning Post\r Read more...Strong Ori response fuels Hong Kong home recovery hopes","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25365,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kuzu-optimistic-about-investors-for-istanbul-project\/","url_meta":{"origin":24887,"position":4},"title":"Kuzu optimistic about investors for Istanbul project","date":"September 7, 2016","format":false,"excerpt":"\r The Turkish developer behind a US$2.7 billion project in Istanbul that will feature a Jumeirah hotel expects to attract strong investors interest despite a recent wave of terror attacks in the country. Kuzu Group is building the mixed-use SeaPearl project, with the first phase scheduled for completion next year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8746,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-mulls-ipos-for-international-hotel-divisions-report\/","url_meta":{"origin":24887,"position":5},"title":"Emaar mulls IPOs for international, hotel divisions – report","date":"March 21, 2016","format":false,"excerpt":"\r Dubai developer considers listing Turkish, Indian units, as well as setting up real estate investment trusts\r \r Source : arabianbusiness.com\r Read more...Emaar mulls IPOs for international, hotel divisions - report","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24887"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24887"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24887\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}