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Category Archives: Economy

Turkey talks shop – demand for shopping space there now one of Europe’s highest

Highlighting Turkey’s growing middle class and its appetite for a consumer lifestyle, the country completed the second largest amount of new shopping space anywhere in Europe during the first half of 2013. The number one spot was taken by Russia. A report by international property consultancy Cushman Wakefield also showed that...

Posted on 19 November 2013

Economic growth in Turkey predicted to be double that of other OECD nations

Turkey will see average annual growth of 5.2 per cent between 2012 and 2017, while other OECD members are forecast to grow at 2.4 per cent for the same period, President of the Investment Support and Promotion Agency of Turkey (ISPAT), Ilker Ayci, stated recently. Ayci added that Turkey is the...

Posted on 04 November 2013

New railway tunnel promises to make Istanbul an East-West trading hub

A new railway tunnel linking the European and Asian sides of Istanbul opened on 29th October, with hopes it will make Istanbul a convenient trading route between Western Europe and South-east Asia, including China, in essence a modern-day Silk Road.The 1.4-kilometre tunnel, which runs under the Bosphorus Strait and is...

Posted on 29 October 2013

Istanbul gears up for arrival of first Rolls Royce dealership

A sign of the growing prosperity of Turkish people and their appetite for leading worldwide brands, Rolls-Royce has announced plans for an authorised dealer to be based in Istanbul. The new dealership is to be officially named Rolls-Royce Motor Cars Istanbul and the new showroom is officially due to open...

Posted on 24 October 2013

Turkish investment delegation targets the world’s largest economy – the US

  Turkey’s on-going efforts to attract foreign investors took the country’s Investment Support and Promotion Agency of Turkey (ISPAT) to US capital Washington this month, where ISPAT President, Ilker Ayci, confirmed strong interest from US investors in opportunities in Istanbul and broader Turkey. Said Ayci: “These meetings proved that US...

Posted on 18 October 2013

Spending power on the Turkish high street fuelling growth in shopping malls

A sign of Turkey’s burgeoning middle class and growing economy, recent statistics show that the retail sector in the country is continuing to flourish and there are now 327 shopping malls in 57 provinces there, employing more than 385,000 people. Turkey’s Shopping Mall Investors’ Association (AYD) also confirmed in October...

Posted on 01 October 2013

The £170K question: where would you invest in property, Turkey or the UK?

One is an exciting emerging economy that bridges the gap between East and West, and the other is an established Western market, ut one thing both Turkey and the UK share right now are bullish property markets. Turkey ranked sixth in the latest Knight Frank Global House Price Index, recording...

Posted on 27 September 2013

Big hitters from the Gulf eye up Istanbul’s property investment opportunities

Interest from Gulf investors in Istanbul’s property market is expected to soar in coming months, thanks to the city and its investment opportunities being in the spotlight at Dubai’s Cityscape Global property exhibition in October. Highlighting the growing appetite for Turkish property in the Middle East, Turkey’s pavilion at Cityscape,...

Posted on 20 September 2013

One of the world’s top 30 banks setting up shop in Turkey

Dutch giant of the banking world Rabobank, ranked the world’s 26th largest bank, has announced plans this month to open offices in Turkey, saying it sees the country as a growing opportunity. The first Rabobank office will be in Istanbul and focus on the commercial sector, initially planning to provide...

Posted on 19 September 2013

Turkey’s property market outperforming the rest of Europe!

Property investors have seen better returns in Turkey than anywhere else in Europe, in terms of capital appreciation, over the past year, after the latest Knight Frank Global House Price Index showed house prices there rose 12.2 per cent year-on-year to the end of Q2 2013. Turkey’s rate of house...

Posted on 13 September 2013