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Turkey Real Estate Presented to Luxembourg Funds

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Turkey Real Estate Presented to Luxembourg Funds
Nova Property

GYODER and the DEIK Turkey-Luxembourg Business Council held a meeting entitled “Real Estate Funds and Investment Opportunities in the Real Estate Sector of Turkey”, in Luxembourg, which has been the second largest center of investment funds in the world and the largest of the Euro region, since 2005, on 3 March 2016.

gyoder logoGYODER, the “Real Estate Platform of Turkey”, continues its overseas activities designed to make the sector more effective and successful. A bridge is being built between the business worlds of the two countries, with the aim of increasing the commercial and investment volumes, with the cooperation of the DEIK Turkey Luxembourg Business Council and the Luxembourg Chamber of Commerce, and the contributions of the Turkish Embassy in Luxembourg.

The aim of the meeting was to introduce the real estate sector in Turkey to the investment funds in Luxembourg – comprised of a total of 3.900 funds – which surpassed 3 trillion Euros with a record 18,41% increase in September 2014, as well as giving them details concerning the general economic and investment atmosphere and drawing the funds of Luxembourg for the real estate projects in Turkey.

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Luxembourg, ‘The small country of big opportunities’

Carlo Thelen, the Director General of the Luxembourg Chamber of Commerce, who made the opening speech, said, “As well as being an important market with its population of 79 million, Turkey is a center which opens to Central Asia and the Middle East. In the last 10 years, Luxembourg has been the third largest foreign investor in shares in Borsa Istanbul. As of 2015, the trade between the two countries is 139 Million Euros, but we call Luxembourg, ‘The small country of big opportunities’. The total of the managed Real Estate Funds of Luxembourg as of September 2015 reached 39 Billion Euros. The main idea behind today’s seminar is this: the companies of Luxembourg will profit if they establish commercial and economic relationships with Turkey at higher levels.”

In her opening speech, Özlem Gökçe, the vice-Chairman of GYODER and a Member of the Executive Committee of the DEIK Turkey-Luxembourg Business Council, said, “The real estate sector in Turkey has become more and more institutionalized in the last ten years, entered the radars of foreign investors and achieved a significant momentum of growth. Our aim is to ensure that the real estate sector of Turkey is integrated in the developed markets in the world and make Turkey a good destination for real estate investments. Numerous items of legal infrastructure and regulations have been put in place in the last 3-4 years in particular, designed to speed up and complete this integration. As well as the numerous new regulations directed at development and individual investments within the sector, there have also been new regulations put in place in respect of investments in the Real Estate Sector through the capital markets, and new instruments have been developed and offered for use. The principal reason for us being in Luxembourg today is to convey the dynamics and the opportunities of the sector and develop the opportunities for cooperation by establishing a bridge between Luxembourg and the Real Estate Sector of Turkey. We believe that we will have the opportunity for an in-depth assessment of these opportunities for cooperation, by introducing the capital markets instruments which have recently come into operation and hope that this bridge we have established between the two countries is reflected on investments by being developed even further.”

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Haluk Sur, the Vice-Chairman of GYODER, Neşecan Çekici and Dr. M. Emre Çamlıbel, Members of the Board of Directors of GYODER, and the senior managers of Borsa Istanbul (BIST) and the Capital Markets Board (CMB) also provided information concerning the ‘Opportunities of Investment in the Real Estate Sector in Turkey with Capital Markets vehicles, Real Estate Investment Funds and the Dynamics of the Sector’, during the meeting.

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