Maxima Developing New Multi-Million Condotel in Izmir

Posted on 13 August 2009

Maxima hotel group is building a massive all-year round holiday resort in Özdere, a holiday resort in the Aegean port city of İzmir. The resort will target the Russian and Belgian arkets with the hope of achieving all year occupancy.

The resort will consist of private houses and a 5 star hotel as well as all the resort facilities including a golf course, multiple pools and fitness suites a spa and marine facilities.

The resort is packaged as a condominium product, which means the properties come under the management and maintenance of the Maxima hotel and resort, while the owners benefit from holiday usage and a share of the rental income from their unit.

After noting that the all-inclusive system is restrictive in terms of tourism reveues in Turkey, Murat Bilal, director of Maxima said:

“The condo system will provide constant foreign currency inflow into Turkey. Those who purchase the flats but have the comfort of another residence, and the tourists who hire the flats during their absence will go out to meet their various demands. They will go shopping at the shopping centers we have built. We would like to bind tourists both by selling houses and in terms of their demands.”

Another big benefit of the Condo product is that it enables house owners to earn money. Bilal said: “If you have a summer house, you have to deal with its cleaning, garden, paint and white wash, or electricity and water problems. However, with the condo system, hotel management undertakes all of these services.”

“Those who hire out their house between June 25-Sept. 25 will take 75 percent of the rent while the firm itself will take 25 percent. Under the proposed system, the contracts will span five to 10 years, he said, adding that the firm wpuld also guarantee the constant activity of the facility for all 12 months,” he added.

This development, for me really puts Turkey on the property investment map; Condotels have been like a stamp of potential in an emerging market, that shows developers believe in the potential profit to be made from property investments within the area.

People who want to book advance spots in the new resort, or simply to make sure they get maximum enjoyment and value for money from their Turkish holidays, should make use of Spot Blue’s new Turkish holidays service.

Why not call us and find out how to see the properties and locations for yourself?
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