Posted on 14 February 2011
Investors rush to emerging markets
Relying on Real Capital Analytics, or RCA, a research and consulting firm, the British newspaper said the volume of real estate deals in the industrialized world fell 54 percent in the first quarter of this year, compared to a year ago. But in the same period, the number of transactions in emerging markets rose 43 percent.
A Citigroup survey of 50 leading pension funds in the United States and Europe, on the other hand, shows “portfolio managers want to commit some $370 billion to real estate during the next three years.” And the bulk of this sum is expected to go to the developing world.
“Turkey has caught the eye of investors,” said the Financial Times. “Foreigners sank some $3.5 billion into Turkish property last year, up from $2.9 billion in 2006, Morgan Stanley reports.” As an example, the newspaper reminded that the Kuwait Investment Authority invested $750 million in the Cevahir shopping mall in Istanbul.
Turkish Daily News – 18 July 2008 (Abridged)