The 15th Real Estate Summit, which has been organized by GYODER (the Association of Real Estate and Real Estate Investment Partnerships), the Real Estate Platform of Turkey, since the year 2000, characterized as the most important organization of Turkey, has brought together the leaders of the sector and opinion leaders. Current and important subjects related to the sector were discussed at the Summit, which was organized with the theme, ‘Our Job is Square Meters’.
Aziz Torun, the Chairman of GYODER, who made the opening speech of the Summit, emphasized that the real estate sector is a locomotive sector, and said that it possessed strategic importance. Aziz Torun also referred to the problems of the sector and pointed out the importance of the need to plan the urban transformation strategy together with an extensive zoning reform.
The Summit played host to foreign speakers, who are experts in their subjects.
Important subject headings were discussed at the Summit, which played host to foreign speakers, who are experts in their subjects. In the session entitled, “The Real Estate Sector in Turkey through the Eyes of Foreign Investors”, the view of foreign investors on the real estate sector in Turkey was debated in the panel moderated by Zafer Baysal, the Senior Vice-President of AMSTAR Turkey.
On the other hand, real estate investment funds were discussed in the panel entitled, “Real Estate Funds – A New Instrument for Real Estate”, during the session participated in by Ersun Bayraktaroğlu, a partner in the company PriceWaterhouseCoopers, and Dr. Emre Çamlıbel, the CEO of Soyak Holding. The expectations of the new generation and the world trends were discussed in the session entitled, “The Relationship Between Square Meters and the New Generation”, moderated by Anthony Phillipson, the founder of FYP Project Development. The sector was discussed through figures in the presentation entitled, “What Are The Figures Telling Us”, which was prepared with the contributions of Eva and Epos, while the project planning stage and the period until the handing over of the real estate to the consumer was examined in the session entitled, “The Evolution and Management of Real Estate”, moderated by Avi Alkaş, the President of JLL Turkey.
Prof. Dr. Kerem Alkin, a Lecturer at Medipol University, who spoke at the session entitled, “The World and the Turkish Economy”, stated that a property bubble could not be said to be present in Turkey. Alkin, who said that Turkey was one of the few countries in the G-20, which was bringing to life big projects, stated that the increase in Turkish Lira deposits in the banks would increase and diversify the financing possibilities in many areas, including residential properties. On the other hand, international real estate investors and funds, which already have billions of dollars of investments in Turkey and are planning new investments, the state asset fund of Singapore and international institutional investors, which manage real estate assets exceeding a total of one trillion dollars in hundreds of countries across the world, such as the European Planning and Development Bank, came together in the panel entitled, “The Real Estate Sector in Turkey Through the Eyes of Foreign Investors”. The satisfaction and the difficulties experienced by the investors from their existing investments in Turkey, their expectations from Turkey in order to continue investing, the areas which need to be developed when comparing Turkey with the other countries where they invest, recommendations for changes in the legislation and suggestions and recommendations for revision, in order for the investment climate in Turkey to be improved, were discussed during the session.
In the panel entitled, “Real Estate Funds – A New Instrument for Real Estate”, it was emphasized that 20% tax exemptions were present in REIFs, in the same way as in Real Estate Investment Partnerships. While it was stated that it was essential for real estate investment funds to be set up in order to achieve the generation of capital needed by the sector, it was stated that the Treasury and the Capital Markets Board needed to structure the regulations in this area, in a wider framework.
“We are bringing all stakeholders together”
Füsun Yılmaz Phillipson, the Deputy Chairman of GYODER and the Chairman of the Organization and Communication Committee, stated that they had planned the concept of this year’s Summit by setting off from the important matters which will shape the future of the real estate sector, and said, “As GYODER, we are bringing together all of the stakeholders of the sector at the 15th Real Estate Summit, and creating a wide network. We have discussed the future of the sector, foreign investors, the new finance instruments which will ensure we reach foreign investors, our new consumers – the ‘Millenials’, the implementations of the new trends in Turkey, the process of bringing real estate to life and the issues faced by the consumer, at the Summit.”