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Largest Property Purchase Deals in Turkey (recently, like who bought what when for how much)
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Posted On :
Dec-27-2009
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Article Word Count :
503
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In your quest to find out if property investment in Turkey is feasible, you certainly want to know more facts about how the trade is going in the country. You will never know that unless you get an idea on some of the largest purchase deals in the area.
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In your quest to find out if property investment in Turkey is feasible, you certainly want to know more facts about how the trade is going in the country. You will never know that unless you get an idea on some of the largest purchase deals in the area. This in turn will invite more investors to put up some cash and buy property in Turkey.
Aside from regular real estate property deals, there are other large investments open to foreign investors. Each property sale is characterized by huge amount of funds allocated by a foreign company or multinational in order to obtain an investment in Turkey. This is the reason why it is categorized under largest property purchases in the country.
Recent largest property investment deals made in Turkey
In the past years, a lot of foreign companies seemed to be interested in property investment in Turkey. As proof to that, the following transactions took place.
March 2007. Zorlu Holding bought the land of the General Directorate of Highways in Zincirlikuyu, Istanbul. The property investment deal amounted to as much as $800 million. Apart from this investment though, Zorlu Holding’s subsidiary, the Zorlu Real Estate group sought to develop the 96,505-square meter land by putting up another $400 million.
July 2007. Dubai Holdings committed to invest on properties located on the Levent business district in Istanbul. The investment was said to cost $5 billion including the $5-million worth Dubai Towers.
October 2007. It was during this time when St. Martins Property Holdings – a company based in London – bought the 420,000-square meter Istanbul Cehavir. The property is actually located in the Sisli District of the province and was seen as one of the biggest properties sold in Turkey. The acquisition price was said to be the largest real estate property deal to date. It was transformed by St. Martins into a shopping center.
February 2008. Emaar Turkey, the country-subsidiary of a well-established company known as the Emaar Properties PJSC, signed a contract to purchase a prime land in Istanbul. The 73,571-square meter of land is due to be transformed to several types of real estate property including commercial buildings, residential construction and tourism promotion.
These are but some of the largest property investment deals in Turkey. Some of these projects are still ongoing and a portion of the total investment still has to be paid for. Generally, as you browse along the largest transactions in the country, you will find out that more companies have seen the potential of investing on property sale made in Istanbul. This is because the city is the largest in the nation and is the financial hub as well. As soon as the properties will be developed, more employment opportunities will come. There is no doubt that the real estate property market will flourish as well.
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Article Source :
http://www.articleseen.com/Article_Largest Property Purchase Deals in Turkey (recently, like who bought what when for how much)_7707.aspx
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Author Resource :
This Article is written by Caglar Kilinc, the author of Konut Kredileri Tuketici Bilinclendirme Portali. More information on the subject is at Largest Property Purchase Deals in Turkey and resources from other Konut Kredileri and Konut Kredisi Faiz Oranlari sources are used such as Konut Kredileri Faiz Oranlari
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Keywords :
Konut Kredileri Tuketici Bilinclendirme Portali, Largest Property Purchase Deals in Turkey, Konut Kredileri Faiz Oranlari,
Category :
Finance
:
Real Estate
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