Dubai, UAE, 15 March 2016:[dropcap]M[/dropcap]ore than 200 UAE investors are preparing to capitalise on the growing real estate opportunities in Turkey when they descend upon Istanbul for the first Cityscape exhibition in the country later this month.
The Hosted Buyer Programme launched by Informa Exhibitions, the organisers of Cityscape Turkey, will connect investors with at least 50 high profile exhibitors taking part in the inaugural exhibition running from 24-26 March at the Istanbul Congress Center.
Current investment hotspots for UAE residents are Turkey’s capital, Istanbul, as well as Trabzon on the Black Sea coastline, and Yalova and Bursa in the northwest of the country.
Wouter Molman, Director of Cityscape Group at Informa Exhibitions, the organisers of Cityscape Turkey, said: “Turkey is becoming an increasingly more attractive place for foreign investors and the turning point was the amendment in reciprocity law in 2012. More than 54,000 properties have been sold to foreigners in the past three years; with two out of every 100 properties have been purchased by foreigners. The interest of foreign investors will increase with the launch of Cityscape Turkey.”
The 2012 amendment to Turkey’s reciprocity law, which made it easier for foreigners to invest in the market, and purchase a maximum of 60 hectares – increased from the original 2.5 hectares – has boosted demand from UAE investors.
In 2015, more than 500,000 GCC residents visited Turkey with investments from the Gulf accounting for almost 30% of total transactions. According to the Turkish Land Registry, 332 UAE citizens purchased property in 2015 and the country ranked among the top nations in terms of square meterage, at more than 433 square metres per person.
Molman added: “The response from investors in the UAE to our hosted buyer programme has been reassuring and we expect that the series of pre-qualified one-on-one meetings to fast track the experience and showcase a tailored collection of quality projects and existing developments twill help meet clients’ exacting requirements.
“The country offers a variety of upscale resort communities on the coasts, an abundance of quality retail locations and has a growing presence from renowned international hotel chains. Couple this with steady high returns and a wealth of prime developments that meet stringent international construction standards, and you have a formula for investment success.”
Cityscape Turkey will bring together over 50 high profile exhibitors across 7000 square metres of exhibition floor space, with more than 5,000 regional and international visitors expected to attend.
Ali Agaoglu, Chairman of Agaoglu said: “The Cityscape brand is a very efficient platform for the promotion of Istanbul and Turkey, and operates as a bridge between us and the GCC. Five years ago, as we first attended the Cityscape Global exhibition in Dubai as the only Turkish company. In 2015, the number increased to 61 companies, which shows that the regional real estate sector is becoming more flexible and opening up to opportunities abroad. I am pleased to say that we have pioneered this trend.”
Key exhibitors at the inaugural showcase include supporting associations Gyoder and Konutder with participation from developers such as DAMAC Properties, Agaoglu, DKY Insaat, EGE Yapi, Evrenol Architects, Green Valley Real Estate, Kuzu Group, Metropol Istanbul, Ofton, Piyalepasa, PNR, Sinpas GYO, and Suryapi.
For more information on how to participate in the Cityscape Turkey Investor Programme go to www.cityscapeturkey.com or call +971 4 407 2764.