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Foreign Investor Demand for Üsküdar to Increase

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The pace of foreign purchases will increase quickly with the new and qualitative residential property projects to be built in Üsküdar.

Almalar-İskurt-Nergo Business Partnership has set sail for new projects. While the sales and construction of their first project, Hill Kartal, continues at pace, the Partnership has also started to complete the feasibilities of its new projects, one by one. Hikmet Alma, the Chairman of the Board of Directors of the Company, said, “We have achieved sales of 30 percent in 3 months, at Hill Kartal. We will have 8 new projects on the Istanbul Anatolian side. 4 of these will be in Üsküdar, the oldest and most popular residential area of Istanbul. The speedy renovation of the infrastructure investments and the planned urban transformation of the region have been influential in us taking the decision to build projects in Kartal.”

Will have a view over the Maiden’s Tower

The projects to be built by the company within the scope of urban transformation, will be positioned opposite the Maiden’s Tower. All4 projects will be boutique projects. The number of residential properties in each of the 4 projects, which will be built with an investment of 60 million Liras, will be around 80.

Interest from foreigners has increased

Hikmet Alma, who pointed out that the interest of foreigners had increased in a visible manner in the recent period, said, “The figures confirm the interest of foreigners. When we look at the residential property sales data for March, we can see that sales throughout the whole of Turkey reached 303 thousand 464 in the first quarter of the year. The number of properties sold in the same period of last year had been 297 thousand 328. Foreigners purchased a total of 4 thousand 642 residential properties in Turkey during the same period, whereas this figure had been 4 thousand 268 in the same period of last year. The pace of foreign purchases will increase quickly with the new and qualitative residential property projects to be built in Üsküdar. It is possible to see this from the foreign demand for the projects we will be building in the region.”

Hill Kartal Project
Hill Kartal Project

New investments valued at 400 million are on the way for Kartal

The business partnership has achieved good sales at Hill Kartal, and will have new projects in Kartal as well as Üsküdar. Alma, who said that they believed in the development of the region, stated that they would be building 3-4 new projects, each of which would have an investment of 100 million Liras. Alma emphasized that there were no estates left in the region, and said that Kartal would become a precious region, which would be shown as an example of transformation, within 3-5 years.

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