Turkish construction firms in Dubai show high investment potential
by Seda Tabak
DUBAISep 07, 2016 - 12:00 am GMT+3
by Seda Tabak
Sep 07, 2016 12:00 am
The July 15 coup attempt did not push Gulf investors away from Turkey. Presenting a message of unity and solidarity, representatives from the Turkish construction sector said: "Turkey is the Middle East's haven. The investment appetite for Turkey still continues, the coup was left cold."
Located on an area of 41,000s square meters, Dubai Cityscape Global 2016, one of the world's most important real estate fairs, opened its gates yesterday with 272 firms in attendance. Twenty-six Turkish firms opened stands on an area of 2,700 square meters. The first international fair that Turkey has attended since the coup attempt organized by Gülenist Terror Group's (FETÖ) putschist soldiers on July 15, centered around foreign investors' trust in Turkey. The representatives from the giant firms of the Turkish real estate sector said they attended the event not to make hot sales like previous years, but to talk about the normalization process. Representatives presented a message that stressed that investments are continuing, and "we are showing Turkey's power to the whole world," sector representatives made an appearance displaying the Turkish flag on their stands.
Ağaoğlu Group Chairman Ali Ağaoğlu stressed that they did not come to Cityscape to make sales, but to talk about what happened in Turkey. Noting that he held talks with Emir of Dubai Sheikh Al Maktoum and the Al Nahyan Family of Abu Dhabi, Ali Ağaoğlu said: "We are operating like the Foreign Affairs Ministry. We are telling everyone about Turkey. The investors here are very eager to invest in Turkey."
Stating that foreign investors were very pleased that the coup attempt failed, Ağaoğlu said Gulf investors see Turkey as "the fortress of the Middle East," and "they were more pleased than we were to see the failure of the coup attempt." "They say if the coup had succeeded, it would have ended the Middle East in a domino effect," Ağaoğlu said.
Tahincioğlu Holding Chairman Özcan Tahincioğlu said they received more attention at the fair than they expected, and stressed that their aim was not to make hot sales, but to show everyone that Turkey is united after the coup attempt, and to tell foreign investors about the normalization process, the power of the Turkish economy and their belief in Turkey.
Erdem Ozan, Turkey's Consul General to Dubai, also joined Cityscape Global. Touching on the Gulf investors' perspective of Turkey after July 15, Ozan said, "As with all other friendly nations, the United Arab Emirates announced its support for Turkey. Certainly, Gulf investors had an uneasy perspective of Turkey after July 15. However, when they saw the measures and steps taken in the course of time, their uneasiness was replaced by confidence."
Soon after the July 15 coup attempt, The Abraaj Group announced that it will invest $500 million in Turkey - which shows Gulf investors' confidence in Turkey. Moreover, the opening of Istanbul's third Bosporus Bridge and a newly announced investment incentives program for foreigners consolidated their confidence in Turkey.
Turkish Exporters Assembly (TİM) President Mehmet Büyükekşi said they consider foreign investors to be partners, adding that they want them to trust Turkey. Suggesting that foreign investors should have a long-term perspective of Turkey, not a short-term one, in terms of investments, Büyükekşi said the TİM, as well as economy and development ministries, will visit 26 countries to promote Turkey. Regarding the fair, Artaş İnşaat Chairman Süleyman Çetinsaya said that despite the demoralizing effects of the failed coup attempt, as Turkish investors it is their responsibility to tell foreign investors about the real investment environment in Turkey, which actually welcomes investors. Çetinsaya thereby expressed that their primary concern at the fair is not selling houses but presenting the real face of Turkey.
In addition, Özak GYO Chairman Ahmey Akbalık said the Turkish construction and real estate sectors always stands strong against negative situations, backed by the strong fight launched against FETÖ by the government and the fairs organized to relay the real investment potential of the country.
This year, there is a considerable number of important construction/architecture firms attending Citycape Global 2016 such as Ağaoğlu Şirketler Grubu, Artaş İnşaat, Garanti Koza, Sinpaş GYO, Tahincioğlu Gayrimenkul, Kuzu Grup, Mar Yapı, İş GYO, Gap İnşaat, Fazlıoğlu Group, Tarakçıoğlu Grup, A And J Yatırım, Emay İnşaat, Öztekler İnşaat, Aremas Gayrimenkul, Metal Yapı, Tabanlıoğlu Mimarlık, Sabri Paşayiğit Mimarlık, Efekta Mimarlık and Emaar Türkiye.