GYODER Real Estate Summit 8: Investment opportunities for the next 100 years (TR)

GYODER Real Estate Summit 8: Investment opportunities for the next 100 years (TR) Thursday 22 May 2008
The eighth real estate summit organized by the Association of Real Estate Companies (GYODER) will be held in Istanbul on 4 – 5 June, 2008. During the press conference held prior to the Real Estate Summit 8, President of GYODER Bekir Cumurcu, Vice-President Nurhan Azizoðlu, President of the Organization Committee Iþýk Gökkaya and Board of Directors member Turgay Tanes informed the participants about the sessions, speakers, and three separate real estate research reports prepared by GYODER and answered the related questions.
President of GYODER Bekir Cumurcu, who gave information on the Real Estate Summit which is a registered trade mark in Turkey, said: “We are going through a period of inner political instability in addition to global economic problems. It is obvious that these dynamics will mean a lower rate of growth and employment, less foreign capital, higher inflation and interest rates for Turkey whose average growth rate during the years 2002 and 2006 was 7.5%. It is only expected that the real estate sector which is very sensitive to the above economic parameters, especially to the interest rates will be affected by these developments”. Bekir Cumurcu continued his speech saying, “Due to the precautions that are being taken both on the global platform and in Turkey and especially with the EU and IMF criteria coming to the fore, we have enough reason to be optimistic. The opportunities that will arise from these economic conditions make up the other side of the coin. The 8. Real Estate Summit will be one where experts will consider the present economic conditions of the Turkish Real Estate Sector and its separate segments and the opportunities that arise under the light of global developments at length. Three research reports with the titles “The Affordable Housing”, Retail Market in Turkey and Prognoses for Shopping Centers by 2015”, and “Prognoses for Cities 2015” will be presented and evaluated”. The first and only Real Estate Summit that is being held by GYODER for eight years now, has been marking the sector for years with its rich content and its speakers who are all experts in their fields. The Summits that are being organized since 2000 attract a large deal of attention from the sector and provide important opportunities to the participants. The top-level executives, sector leaders and experts representing the leading real estate companies of Turkey and the world gather at the Summit and discuss the condition of the sector and the mutual problems in detail and evaluate the suggested solutions. The researchh of GYODER will mark the sector The theme of the Summit will be “Investment Opportunities for the Next 100 Years” and it will deal with the investment opportunities and problems of the sector for 2 days. There will be seven sessions, three during the first day and four during the second day where more than thirty speakers will share their views with the participants. The results of the reports that were prepared to fulfill the housing needs of the low and middle-income groups titled “Affordable Housing”, “Retail Market in Turkey and Prognoses for Shopping Centers by 2015”, and “Prognoses for Cities” dealing with 10 developing cities (Denizli, Manisa, Trabzon, Balýkesir, Hatay, Malatya, Kahramanmaraþ, Tekirdað, Aydýn, Muðla) will be made public during the Summit and they will be evaluated in detail. Affordable Housing It is a well known fact that the housing need for the low-income group is enormous and that the barrier that keeps the need from turning into demand is the deficiency in purchasing power, and that the problem implies social policies as well as market mechanisms. The research report prepared by the Affordable Housing Institute with the participation of several institutions for GYODER approaches the subject from both the supply and the demand aspects and offers solutions taking into account and examining the applications in several other countries. Retail Market in Turkey and Prognoses for Shopping Centers by 2015 The developments and prognoses about the shopping centers which happens to be the sector that grows at a hectic pace within the developing real estate sector of Turkey and which attracts the largest share of foreign investors are displayed in this study. The shopping centers in Turkey are evaluated on the basis of the cities they are built in, according to whether they are active shopping centers or whether they are being planned or constructed. The shopping center investments are examined from the point of view of real estate investments and comparisons with similar countries are made. The prognoses section of the study includes anticipations about the growth of retail expenditures in relation to economic development and the growth of the retail sector; the development potential of the shopping center investments on city basis and for the whole of Turkey in general until the year 2015 are displayed and prognoses about the earnings yield of the shopping centers as real estate investments and evaluations for local and foreign investors are presented. Prognoses for the Real Estate Sector and for Cities 2015 *These cities are Aydýn, Balýkesir, Denizli, Hatay, Kahramanmaraþ, Malatya, Manisa, Muðla, Tekirdað, Trabzon* GYODER is submitting the fourth and last research report prepared on city basis with this report and the cities examined up to date will have reached 25 in number. The Real Estate Research Report 5 examines the housing, shopping centers, accommodation facilities and industrial and logistics areas in the cities of Aydýn, Balýkesir, Denizli, Hatay, Kahramanmaraþ, Malatya, Manisa, Muðla, Tekirdað and Trabzon that have a potential for growth, and prognoses for the period up to the year 2015 are made public. The leaders of the real estate sector are meeting in Istanbul on June 4-5 Wednesday 4 June 08 The first day of the 8th Real Estate Summit will commence with the opening speeches that will be made by Chairman of GYODER Bekir Cumurcu and Chairman of CMB Assistant Professor Dr. Turan Erol. The first session on “Economic Outlook: Global Markets and Turkey” will be presided by Gazi Erçel, Former Governor Central Bank of the Republic of Turkey. The second session “Investment Environment:Popularity of Real Estate Investments” will be run by Metin Ar, Garanti Securities, President. During the last session of the first day “Shopping Mall Investments: Are They Still Attractive?” will be discussed under the ruling of Nurhan Azizoðlu, Vice-Chairman of GYODER. The report titled “Retail Market in Turkey and Prognoses for Shopping Centers by 2015” will be submitted as well. Thursday 5 June 08 "Investments: Affordable Housing” will be presided by Emre Çamlýbel, Board Member of Soyak. The Founding President of the Affordable Housing Institute, David Smith will explain the results of the Affordable Housing, which are of great value for the Turkish real estate sector. “Opportunities in Real Estate: Tourism, Office and Logistics Investments” will be discussed during the second session which will be run by Oktay Varlýer, the Chairman of the High Advisory Council of the Assosciation of Tourism Investments. The third session of the day “Urban Renewal and Regeneration:Pilot Project” will be presided by the Founder Partner Partner of Kentsel Strateji (Urban Strategy), Faruk Göksu. “Developing Cities: Investment Potential” will be discussed during the last session of the Summit under the chairmanship of Tavit Köletavitoðlu, CEO of Atlas Proje ve Arazi Geliþtirme (Atlas Project and Land Development) and the “Prognoses for the Real Estate Sector and Cities 2015” report will be presented. Foreign speakers who participate in the 8. Real Estate Summit Alexander Batchvarov (Merrill Lynch, International Structured Loans and Research, General Manager) Simon Fairchild (IPD, Director) John Forbes (PricewaterhouseCoopers, Real Estate Leader, UK) Walter Hampel (Hypo Real Estate, Director) Jan de Kreij (Majid Al Futtaim Properties, President) Otto Nagel (Multi Turkmall, Chairman) David Smith (Affordable Housing Institute, Founding President) Kenroy Dowers (IFC, Global Housing Finance Group, President) Abhas Jha (World Bank, Coordinator) Danny Peeters (Goodman European Logistics, CEO) Paola Verri (Comitato Ýtalia 150, General Manager) Tarýk Nasser (Marriott International, Consultant for Turkey)