Turkish developer sees sales of $400m from Middle East investors

Highlighting the significant real estate investment opportunities that Turkey now offers due to the Reciprocity Law, Ali Agaoglu, the Agaoglu Group Chairman of Board, says the developer has seen a large amount of interest for Turkish real estate projects from various regions in the world, especially significantly from the Middle East countries. He said, "The Gulf and Middle Eastern countries currently seem to prefer Turkey over Europe for real estate investments.
"The Turkish and Arabic cultures are similar in many ways, and the fact that we share common values enables us to understand each other better. This recent increase in investments has ensured Turkey has now become a major competitor within the European real estate market. We will be attending Cityscape Global in Dubai to promote our latest project, the Agaoglu Maslak 1453, the largest real estate project in Turkey."

An annual sales volume of $5bn is expected following the introduction of the Law and Agaoglu targets a market share of 20 per cent over this volume, corresponding to a sales figure of $1bn.

Agaoglu Maslak 1453 is located in Maslak, one of the most developed central locations in Istanbul. The project comprises of 4,700 residences, with a number of key features, including a large public squares, theatres, international fashion centre, a 1,453-meter-long shopping avenue and neighboring forest.