Real estate stock exchange sees foreign demand

DAILY SABAH WITH AA
ISTANBUL
Published 01.05.2019 00:10

The Real Estate Stock Exchange (GABORAS), which has recently appeared in the international arena, has started seeing demand from foreign investors.

According to information received from GABORAS authorities the stock exchange, which is set to establish a Turkey-based real estate market and bring capital in the real estate industry into the economy, has been working on making real estate transactions transparent and securitizing them and enabling domestic and foreign investors to make transactions in an environment of trust.

GABORAS authorities are conducting private meetings with foreign investors through the Independent Industrialists' and Businessmen's Association's (MÜSİAD) overseas network in 94 countries and are taking firm steps toward becoming a model for countries in the region.

Having started building demands from foreign investors, GABORAS received the first overseas offers from London and Baghdad during the Turkish-Arab Businessmen Summit hosted by MÜSİAD and during intensive meetings held at London-based U.K. 101 Club organizations.

The high-ranking officials from Iraq, who participated in the Turkish-Arab Businessmen Summit, invited the GABORAS delegation to Baghdad to conduct know-how transfer and physical infrastructure detection. In this way, GABORAS is expected to develop the Iraqi real estate market.

Meanwhile, British businesspeople stated that they want to use GABORAS in their plans to invest in Turkey. After the founding of the London office as the first move of GABORAS Global, it is expected that trade volume of billions of dollars will be created by bringing together Muslim businessmen who currently operate in a disorganized way in the U.K.

Underlining that GABORAS must be brought to the agenda at the World Economic Forum (WEF) on a global scale, British investors said that they want to host the GABORAS delegation in London and listen to Turkey's investment opportunities from them.

GABORAS General Manager Kurtuluş Altun told Anadolu Agency (AA) that they have been working in full swing on the stock exchange, adding that GABORAS is being discussed at the London Stock Exchange.

Noting that GABORAS Global has been seeking to build centers in London, Dubai, New York, Frankfurt and Singapore, Altun said that the fact that GABORAS is based in Turkey will enable the country to become one of the largest 10 economies in the world.

Altun emphasized that GABORAS has a key role in the achievement of Turkey's 2023 vision goals, saying that "The Meeting with British Business People" program held in Istanbul by MÜSİAD and British businesspeople community U.K. 101 Club highlighted talks with the London Municipality and London Stock Exchange. "So far, we have seen intense interest in the U.K. which is going through the Brexit process," he said.

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