Turkish property has once again been a highlight at the world’s largest trade property exhibition, namely MIPIM and taking place in France 11th-14th March, after Turkey was chosen as one of three Countries of Honour for the second year running.
Testament to the global interest in property in Turkey, more than 250 companies have been showcasing the country’s real estate market. The other two Countries of Honour for 2014 are Brazil and Russia.
The event has included a keynote speech about investing in Turkey given by Mehmet Ilker Ayci, President of the Investment Support and Promotion Agency of Turkey (ISPAT), as well as a seminar session focusing on Istanbul’s future as an international financial hub. MIPIM describes Turkey as “boasting one of the largest and most dynamic construction industries and an expanding international coverage”.
A further boost comes from the Zorlu shopping centre in Istanbul, which was designed by the Tabanlioglu Architectural firm, being a finalist in the Shopping Centre category of the prestigious MIPIM Awards 2014.
ISPAT President Ayci recently stated that Turkey’s efforts to encourage foreign investment will gather pace following the country’s local elections on the 30th March. He said: “The ongoing efforts to improve Turkey’s investment environment will be at the top of the government’s agenda following the elections. Foreign investors will greatly benefit from these reforms”. ISPAT is running a promotional campaign in 15 countries designated as key sources of foreign investment.
Turkey attracted $12.9 billion of foreign direct investments (FDI) in 2013, and more than $1.2 billion of FDI in January 2014 alone, a rise of 51 per cent compared to January last year.