Gulf and European investors head for larger investments

By İbrahim Acar

In line with Turkey's reciprocity law, Gulf businessmen who already own million dollar houses in Turkey have begun seeking factory lands. As of 2013, foreign investors bought more than 21,000 properties, with more than $3 billion generated from these purchases. Since issues with residence permits were fixed, Arab investors have begun looking to invest their cash in land parcels.

With a portfolio of clients ranging from the Netherlands to the Gulf, the head of Altın Emlak real estate company in Turkey said foreign investors are now leaning towards factory land parcels. General Manager of Altın Emlak, Hakan Erilkun, noted that both European and Arab investors are searching high and low for industrial land in every part of Turkey. These investors make up Altın Emlak's major clients.

"We sold some 70 apartments to our Arab clients a while ago. A majority of them are now seeking people to rent these apartments, as our clients see them as a lucrative instrument for investment," Erilkun noted. He added that the boom in Turkey's economy has attracted European investors too. With increasing interest from Dutch clients, Altın Emlak has opened a franchise in Holland. "We are glad to respond to the needs of both Turkish and native investors in the Netherlands," Erilkun said.