Ağaoğlu Group, one of the leading brands in the national real estate sector, is preparing to invest abroad. The company sells a significant number of residential properties to foreigners - especially those from the Middle East - and now has its eye on the Iranian market after the recent lifting of sanctions on the country related to its nuclear program. Ağaoğlu Group CEO Ali Ağaoğlu said, "It has never been as difficult to do business in Turkey as it is today," adding that the company decided to stop investing in Turkey and instead expand its market base to foreign countries for this reason.
Stressing that investors from around the world have recently become keen on Iranian investments, Ağaoğlu highlighted that Iranian hotels and flights to the country are at full capacity in terms of occupancy rates, and that the group has been eyeing investment opportunities in housing, development and energy in the country for a long time - in addition to Saudi Arabia and Germany.
Last week, Ağaoğlu Group publically listed the first part of office blocs in the Maslak 1453 Project and 90 percent of residential properties in the project have been sold so far. "When we initiate projects and campaigns, we revive markets. We have a constructive impact on markets," Ağaoğlu said, referring to the Istanbul International Finance Center (IFC) project and emphasizing that infrastructural projects have begun while companies that have already obtained the required licensing have started construction. He said there are saleable areas in a 300,000-square-meter area of the project, but that the group opts to lease out a large part of that area. According to Ağaoğlu, the group has obtained more licenses than any other Turkish company with regards to renewable energy. He denied allegations that his group left the renewable energy sector even though it did sell two energy companies beforehand, saying that the group's works in renewable energy sector are continuing in full force.
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