Ağaoğlu, who launched the huge real estate project “Maslak 1453” in Dubai last year and opened, upon intense interest, his first office in Dubai, participates in the real estate fair MIPIM 2013 organized in Cannes and invites international investors in Istanbul.
The primary aim of Ağaoğlu, who will bring together many real estate projects, especially Istanbul International Finance Center, and international investors, will be the publicity of Turkey and Istanbul.
Ağaoğlu: “Invest in Istanbul”
Turkey is preparing to become the world’s 10th largest economy within the framework of 2023 vision relying on the great changes and developments that Turkey and Istanbul have experienced in the recent years.
Istanbul has taken on a very important role in the path toward this goal and Istanbul International Finance Center, whose contractor is Ağaoğlu, has its own very important role in the realization of this target. Istanbul is rapidly growing in parallel to the targeted goal, visibly on its way to becoming a regional finance center in the short term and an international financial center in the medium term. Ağaoğlu carries out many campaigns all around the world with the slogan “Invest in Istanbul” to introduce this property project in Istanbul.
If the World were a Single Country, its Capital would be Istanbul
Reminding the famous quote of Napoleon “If the world were a single country, its capital would be Istanbul”, Ağaoğlu expressed that “Istanbul is the third largest tourist destination of Europe after London and Paris, and is one of the rare countries that has direct flights to 93 countries in the world. It also features Grand Bazaar, world’s oldest bank. Today, Istanbul rises, with its International Finance Centre, as a world capital on such an important legacy.”
Saying that they would readily be the undersigned in any project that would serve Istanbul’s becoming a World Capital, Ali Ağaoğlu stated that “That is why we were willing to bid for Istanbul International Finance Center. We aim at becoming a well-known leading brand not only in Turkey but also in an international arena by means of such large-scaled projects that will contribute to country promotion.
Everything is Ready for International Finance Center
Asserting that according to the research reports of many reputed international organizations, Istanbul is recognized as a city that offers the most profitable opportunities in the world in the real estate sector, Ali Ağaoğlu added “There has especially been very major structural changes in Istanbul in recent years to make the city a finance center. In this context, laws of trade and obligations have been revised to integrate the country with the West. In addition, financial instruments have become more diversified. Tax advantages have been created and Islamic financial instruments such as sukuk have been readied for implementation. Thus, besides the physical infrastructure that we are building for the Istanbul Finance Center, new financial and legal regulations have also been made effective. To sum up, we are ready and we invite all investors to invest in Istanbul, the new world center.
Ağaoğlu will Export 250 million dollar Sukuk in the Medium Term
Ağaoğlu, who expressed that they made the planning of Islamic finance, stated that they would export 250-million-dollar sukuk in the medium term within the scope of Istanbul Finance Center. It is expected that this export will rise to 2 billion in the long term.
What is Sukuk?
Sukuk (Islamic Financial Instrument), being a common concept particularly in Gulf countries, is defined as an interest-free capital market product which is used in credit and finance markets in accordance with Islamic principles, issued through special purpose entities and provides fixed or variable yield in the medium-long term.
• The assesments and ratings by international rating agencies are used by investors as guides in the risk/profit analysis of Sukuk.
• It provides a regular flow of income through easy and effective payment.
• It is a liquid instrument and is dealt in secondary market.
The Law of Reciprocity Added a New Vision to the Sector
The Law of Reciprocity, which was put into force in the half of the last year, added a new vision to the sector. In this period, Ağaoğlu carried out the sales of 1.000 residences of 400 million dollar value to foreigners. He kept the bar of target high in also 2013 and aims at maintaining his leadership in the sector through 1 billion dollar sales.
Ali Ağaoğlu, who said that they are first to open an office in Dubai upon the intensive interest from Gulf countries, stated “Our purpose with this office is not to sell residences. We came here to offer opportunities to those groups willing to invest in Turkey. Here, we will serve voluntarily like an embassy.”
Ağaoğlu, who had meetings with many investors following the opening of the sales office, expressed that an investment fund of China-Dubai partnership spares 5 billion dollar for Turkey in the first place and this fund may rise to 15 billion dollar in the long term.
Ağaoğlu to Conclude the Sale of Project In Bakırköy In 3 Days
Mr. Ali Ağaoğlu, giving information about the progressing and planned projects asserted the following statements: “We are planning to start our Bakırköy property project including 1.250 dwelling houses in a short period of time. By relying upon the previous records broken in our former campaigns, we are aiming at selling 1.250 dwelling houses in maximum 3 days without any advertisement.
“Our greatest ongoing project is Maslak 1453. By the way, we have a commercial area of 4.800 residences and 210 thousand square meters. We signed the tender of the ongoing project of Istanbul International Finance Center in December. We aim at completing 8,5 million cubic meter workings in such a short period as 300 days despite the 500 days that the administration provided us with. Our Andromeda Plus project is proceeding and is about to be completed. We will put this project up for sale together with Istanbul International Finance Center when it gains value. Apart from these, we purchased the area in Kartal where the cement plant is located and signed the contract in the early February. The project is almost completed and we will have it prepared for sale in the last quarter of 2013.
For more information about Ağaoğlu real estate projects, visit www.agaoglu.com.tr
Istanbul International Finance Center and Maslak 1453 will Mark in MIPIM
Turkey participates in MIPIM, known as the most prestigious well-known real estate fair which is being held in Cannes, France in the period of 12-15 March this year, as Honored Country. There is a Turkish tent of 1.000 m2 in the fair.
Ağaoğlu, as the greatest participant in the fair with his booth that will occupy an area of 350 m2, keeps his leading role in introducing Turkey.
Source: Hurriyet Daily News
Edited by Real Estate News Turkey