Emaar Group (Emaar Grubu), which has already invested more than $2.5 billion in Turkey to date, has started looking for land for the next ideas. In particular, the company wants to buy plots in Antalya, Bodrum, as well as in Istanbul for housing projects.
Foreign companies from the real estate segment continue to invest in Turkey. Emaar Group invested in such gigantic projects as Toskana Vadisi, as well as The Land of Legends theme park near Belek, which is probably well-known to everyone (together with Rixos).
The head of Emaar Properties, Jamal Bin Teniya, said: «We are implementing our projects in the form of complexes, including shopping malls, hotels and residential buildings. This requires very large areas. Istanbul is our «favorite» in Turkey; however, due to the rise in housing prices, we began to price Antalya and Bodrum, where we are currently looking for land. As soon as we find suitable sites, we will launch new projects. Yes, the sale of housing has stalled for some time in general, our company has also recorded a decline. However, Emaar investments are not short-term, and periodic recessions have little effect on long-term investments. So, we believe that we will achieve great success in Turkey».
Recall that «branded» housing from large developers has risen in price in the country by more than 3% in just a month.