The General Manager of the Omurga Portföy Oğuz Kösebay, talked about the real state situation in Turkey. Kösebay said; “An organized Real State Sector makes İstanbul a convenient city for investments in every period.”
The Mega Projects which have started in İstanbul give strong signals for the Real State Sector in Turkey. The third bridge Project, airport and highway are evaluated as mega projects for their effects. Oğuz Kösebay expresses that the production has been continued for about 30 years by the growing of the city. He also said “The continuing of this stock as healthy, the increasing of the Real Estate Sector’s depth and the transaction volume will be possible through the investment funds. Such an organized Real Estate Sector makes İstanbul a convenient city for the investments in every period.”
A Controlled Growth is required for İstanbul
In Oğuz Kösebay’s opinion, the infrastructure projects that have been called as mega projects are successful when they are adaptable with the medium and long term city plans. The development has been continued with an inadequate planning by the geographical features and the economic dynamism of İstanbul until today. Public, private sector and community reconciliation is needed for a good social and economic development. At least a middle term city plan is required for these goals. İstanbul needs a controlled growth for continuing to attract the investment’s interest. Also by this method, İstanbul can be a convenient city for a sustainable investment at any period.
5 Years Period is Important
Real State in İstanbul and Turkey shows some variability in an average of 5 years period. So, the sectoral and geographical risks are to be distributed.