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Turkish Property Developers Expand Abroad

Turkish Property Developers
Nova Property

Mesa-Nurol in Poland

Erhan Bosanoğlu, the Chairman of the Board of Directors of Mesa, who pointed out that as the Mesa-Nurol partnership, they had been developing projects in Poland for 10 years, says that in addition to the 350 residential property project they are undertaking in Warsaw, they are continuing to work on developing five new real estate projects in the coming period. Boysanoğlu announced three of the projects will contain a total of 500 residential properties.

Turkish signature for the rebuilding of Georgia

Georgia, which needs to be rebuilt and where Turkish companies are working as contractors in important tourism and infrastructure projects, is another of the markets which stand out. Oğuz Kaan Karaer, the Deputy Managing Director in charge of Project Development, Marketing and Sales of Maqro Construction, says that Maqro Construction, a company established in Georgia with Turkish capital, is carrying out residential property projects in this country. Karaer points out that Maqro has been operating as a project developer and investor in Georgia, for three years, rather than as a contractor.

First overseas building contractor Cevahir

It is known that the first overseas building contractor of Turkey was Cevahir Holding, which had won tenders in Libya in 1972. Now the second generation in Cevahir has begun its own overseas move in branded property development this time. Eser Cevahir, member of the Board of Directors of Cevahir Holding, says that they are developing two projects – Cevahir Sky City and Cevahir Sun City – in Skopje, the capital of Macedonia.

Eser Cevahir, who stated that completions of the apartments in the first phase of the Cevahir Sky City project would begin in October, and that 70 percent of this phase had been completed, said, “The project has drawn intensive interest both from the people of Macedonia and those from neighboring countries. On the other hand, our Cevahir Sun City project is situated on Vodno Mountain, three kilometers from Skopje city center and has a concept combining villas and terraced houses. The digging works for the Sun City project are continuing.” Cevahir emphasized the ownership of both the estate and the building in both projects belongs to Cevahir Holding, and said that apart from the real estate investment group, Cevahir Holding had also carried the construction company of the group – Cevahir Group Construction– which is again among its urban holdings, to Macedonia.

NEF setting foot in the USA

Nef, which is preparing to put its name to important projects this year, is planning to launch its New York project in the coming months.

Erden Timur, the Chief Executive Officer of Nef, says, “Together with Nef New York, which will be the first project we bring to life abroad, we are also aiming to clarify the details of our other projects in America and Germany, the development processes of which are continuing.”

Kılıçoğlu Group is waiting

Kılıçoğlu Group, which has worked on 180 residential properties in six property projects, with an investment of a total of 25 million Euros in Bulgaria, in the last 10 years, also completed a project comprised of 60 residential properties – with an investment of 6,5 million Euros, in Belgrade in Serbia, last year. Talat Kılıç, the Deputy Chairman of the Board of Directors of the Kılıçoğlu Group, says that they have put the matter of developing projects in the region on hold, due to the negative impact of the Russian crisis on the regional economy.

Halit Demir, the Chairman of the Board of Directors of Demir İnşaat, who pointed out that they had purchased land in Ukraine, in order to develop projects in 2007-2008, says, “We began investing in 2015. A 25 million dollar investment is being planned for the hotel and residential property project in Vinnytsia, in the first phase. On the other hand, zoning work has begun in the Kiev project.”

Other developers looking for projects

Sinpaş took a step into Germany in 2013 by purchasing the commercial center OSVVE, in Frankfurt, through its subsidiary, Servet GYO, and in recent months the company has held discussions on the rising demand for residential properties in Saudi Arabia, with Majed bin Abdullah Al-Huqail, the Minister for Zoning of the country.

AŞÇIOĞLU: The company signed a partnership agreement with the Dubai based Deyaar, one of the leading real estate development companies in the United Arab Emirates, and is bringing to life its first project this year.

FUZUL: The company is to undertake a project comprised of apartments and villas with two of the big construction companies of Saudi Arabia, in Riyadh. Fuzul Group, which has established a tripartite consortium with the Alayuni Group and Alhabib Real Estate company, will undertake 400 million liras of investments. The company, which is to develop one more project in Saudi Arabia, also has Iran and Malaysia on its agenda.


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