Dubai: 27th April 2015
Top Real Estate Group; the exclusive regional agent to the Turkish Inanlar Company, launched its advertising and marketing campaign in the UAE, through Buniah Real Estate Company – the local agent in Dubai, for its projects in several distinct sites in Istanbul, including apartments and residential villas – many are ready for immediate delivery and more are under construction.
Mr. Walid Al Qadoumi, the Managing Director of Top Real Estate Group, said that one of the most prominent current projects is the Terrace Tema Project, featuring two residential towers in Ataknt – in one of the key and vital areas in Istanbul- only 8 km from Ataturk Airport and 26 km from the Taksim and Istiklal Street. He pointed that the region currently sees the implementation of a greater number of projects in Istanbul and also under construction are several facilities, including the largest entertainment city (Tema Park), in addition to a number of universities and commercial complexes, adding that the region enjoys a large road and transport network linking it with the main areas and centers in the city both smoothly and efficiently.
Commenting on the two towers, Al Qadoumi said that the first consists of 40 stories and the second 30, with a total of 416 apartments featuring one to three bedrooms and overlooks the sea, lake and picturesque gardens. The project contains a distinctive range of public services, including car parks, security, maintenance and entertainment services including swimming pools, a health club and playgrounds, in addition to the terrace and gardens thus giving the residents an aura of comfort to enjoy the beautiful scenery.
He noted that the prices of residential units are appropriate and distinctive, compared to similar projects in terms of quality and location and that the project had been implemented during March 2014. The housing units have been delivered to their new owners, originating from Turkey and the GCC States and the company added that it would launch a limited set of apartments in the project with a down payment of 35% of the value of the apartment and the remainder in installments for a period of 36 months, indicating that the client can benefit from the rental of the apartment and achieve immediate returns up to 10% per annum.
Al Qadoumi added that the group also established one of the company's projects in the Istanbul "Terrace Mix" project, one of the leading projects implemented by Inanlar Company in a strategic and distinct location in Esnyurt Area in Istanbul. It is located in a lively area characterized by the presence of many commercial and residential complexes and universities, in addition to the headquarters of a large number of major companies, stressing that the Terrace Mix is a real opportunity for a successful investment.
Commenting on the development, he said that the project consists of five multiple-story buildings, each up to 15 stories, including three residential buildings and two residential business buildings. The apartments range from studio’s to one, two or three bedroom apartments with high quality finishes. He pointed out that the project comprises integrated services including gardens, playgrounds, spa, park, and maintenance and security around the clock. Commenting on the prices of the residential units, he said that the prices are suitable for the various market segments starting from $60.000 with payment facilities up to 36 months. He added that the group offers a lease return for a limited period of time up to 10% for two years on all studio apartments paid in cash. The development company will rent and furnish the apartments, stating that the project has been accomplished and is ready for immediate delivery.
He also pointed out that the project is about 18 kilometers from Ataturk Airport and about 31 kilometers from Taksim and Istiklal Street, furthermore it is adjacent to the main road network project in the city and easy to reach by Metro Bus, which is the easiest transport in the city and is unaffected by congestion.
Commenting on the latest statistics of real estate investment and ownership in Turkey by GCC citizens, Al Qadoumi said that by the end of 2014, the total new units that were sold to investors from all over the world amounted to 5.222 million square meters, compared to 2,928 million square meters in the year 2013, an increase of 78%. The Gulf investments share added up to 1,961 million square meters in 2014, compared to 735 million meters in the year 2013, an increase of 167%. These rates reflect the properties that have been recorded in the Land Office and investors got a certificate of ownership (Tabu) Title deed; they do not include non-recorded properties, which are still under construction.
According to the latest statistics, GCC citizens and specifically Saudis, Kuwaitis and Emiratis, had occupied the top 10 owners of property in Turkey by the end of 2014. The Saudis ranked first with total properties amounting to approximately 910. 625 square meters, compared to 402.860 square meters in 2013, while the Kuwaiti citizens ranked fourth with total properties of 522.942 square meters in 2014, compared to 94.638 square meters in 2013. The Emiratis came in sixth place with 219.086 square meters, compared to 73.164 square meters in the year 2013.
Given the strategic location and mild climate, Turkey has become a favorite destination for GCC citizens whose investments increased accordingly. The volume of the real estate sector investments increased from 153% in 2013 up to 186% in 2014. The Gulf investments increased from 26% in 2013 to 35% in 2014.
Compared to 2013 and 2014, the rate of the Bahraini citizens’ investments increased by 666%, Kuwaitis by 291%, Emiratis 181%, Saudis 135%, Qataris 105%, Omanis 58%, while the Iraqi investments increased by 177% , and the Iranian investment decreased by 10% in 2014.