Çalık: Turkey will grow by at least five percent

Published 25.02.2012 03:06
Updated 25.02.2012 16:55

Explaining that Turkey had one of the fastest growing economies in 2011, Çalık Holding Chairman of the Executive Board Ahmet Çalık, states, “Despite the uncertainties in Europe, this year the economy will still show at least five percent growth.”

Çalık Holding Chairman of the Executive Board Ahmet Çalık expressed that Turkey has now become a regional player due to its political stability, correct management and economic reforms. "Even in 2011, which was a difficult year for the world, Turkey is way above expectations and has become one of the limited numbers of fast growing economies. Despite the uncertainties of the global economy and especially in Europe, I think that Turkey will see at least four to five percent growth for 2012." Çalık goes on to state that Turkey has decreased the single market risk and has opened into new markets. "The slow-down in Europe has been balanced by the strengthening of other markets. Meanwhile, the strong growth in our country and the increasing welfare has produced new opportunities, in addition to establishing a tolerance to the changes in the international market. Over the past ten years, Turkey continues to do the right things by continuously developing, and recognizing the risks and taking action."

A 700 MILLION $ INVESTMENT

Ahmet Çalık also offered an assessment of Çalık Group's objectives and stated, "We operate in 15 nations with over 20,000 employees. We have become exhausted by adapting to the special standards of each nation. We are used to crises and have developed resistance. If you are prepared then you will be able to handle the sunny days and the harsh winter conditions and you will know it is all temporary and will take precautions accordingly."

Çalık also shared that in 2011; the holding saw a 20 percent increase in active growth and revenue increased by 50 percent and the company made 700 million dollars worth of investments. Ahmet Çalık went on to state, "With the exception of the big projects we currently have for this year, we also foresee making a 250 million dollar investment."

WE WILL BE RETIRING OUR FIVE-YEAR BONDS AND WILL EMBARK ON NEW PROJECTS

Çalık goes on to state that the group has realized a total bond issue of 200 million dollars as well as fulfilled all commitments embarked on in their entirety. "In March, we will be retiring our five-year bond after which we will continue to look out for more projects." This positive retirement and interest shows that if our group were to take out another bond, we would be able to obtain funds under much more suitable conditions. Even though there aren't any plans as such at the moment, depending on the suitability to the conditions in the upcoming period, we could end up issuing a bond."

Our projects contribute to urban renewal

Ahmet Çalık explained that they have begun working on the initial sales of Gap İnşaat's Tarlabaşı Urban Renewal Project, while efforts to develop the Fener-Balat project continues, and states, "The first phase of the Metropol Istanbul project in Ataşehir has gone on sale. They have acquired significant interest and a nice sales graphics. Our Şehrizar Residents project in Üsküdar Burhaniye is an absolute gem with both its location and modern neighborhood concept. They will begin hosting their first residents at the end of the year. We are expecting to make over 500 million dollars in revenue from our projects which have already begun to sell."

Proposals received by Turkuvaz contribute to our brand
Çalık explained that Turkuvaz Medya's capital is growing and that both print and publishing quality has increased and stated that they have established a number of new brands. Çalık also revealed a series of sales details, explaining that according to the initial requests coming in for the brand they are seeing intense interest, Çalık states, "This represents our significant contribution to the brand. Of course the perception of Turkey that is developing abroad is also significant." Ahmet Çalık also reminded that work on the Samsun-Ceyhan Petroleum Pipeline, the East Mediterranean Refinery and Petrochemical continue, while in addition to these projects, we also have electric and gas distribution companies as well as wind and HES projects available in our portfolio.

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