Turkey Financial News

Posted by meb at January 30th, 2008

A total of 6,848 houses have been put up for sale by the country’s housing authority, 340 of which will be sold by the drawing of lots and 5,508 will be sold regularly.

According to official information, among the houses put up for sale with the drawing of lots are those built in Istanbul’s Halkalı, Bezirganbahçe. Turkey’s Mass Housing Administration (TOKİ) announced that 390 of the houses will be sold to low-income groups and 310 to those that don’t own a house. Applications to be considered for the houses will start being accepted on Feb. 4 and continue through the end of the month. (more…)

Posted by meb at January 30th, 2008

In an effort to provide momentum to clean energy partnerships between the United States and Turkey, members of government, scientific and private sector communities gathered in Istanbul for the Turkish-American Clean Energy Technologies Conference yesterday.

The conference, a first of its kind, aimed at providing a platform for U.S. scientists to share know-how on clean energy technologies and an opportunity for the Turkish industry to illustrate the opportunities in alternative energy investments. (more…)

Posted by meb at January 30th, 2008

US investor Apollo Real Estate Advisors has entered the Turkish market by purchasing retail development in Merter, Istanbul from French supermarket giant Carrefour and Turkish property company Sabanci for € 267 million.

Apollo will fund the development by Turkish developer Multi Turkmall of a 1.4m sq ft shopping center to be anchored by Carrefour.

It is expected to be valued at about E700m when it is completed in 2010.

Carrefour, the world’s second largest retailer, will occupy approximately 123,500 sq ft and there will be a further 200 retail units at the scheme.

Carrefour placed the site on the market last year. It has invested more than £490m in Turkey since entering the country in 1996.

Apollo and Multi Turkmall were advised by Jones Lang LaSalle, while Cushman & Wakefield advised Carrefour and Sabanci.

source: The New Anatolian

Posted by meb at January 30th, 2008

A large part of a 6.5 billion USD loan –to be granted by World Bank to Turkey within the scope of the Country Partnership Strategy (CPS) between 2008 and 2011– will be used to boost employment and competitiveness.

The bank granted a loan of nearly 500 million U.S. dollars for the same purpose in July 2007. (more…)

Posted by meb at January 30th, 2008

According to data recently released by the İstanbul Chamber of Commerce (İTO), foreign capital invested in foreign-based companies in İstanbul in 2007 increased by 90.6 percent over 2006.

The number of foreign-based companies established in İstanbul increased by 31.4 percent in 2007 compared to 2006, according to a report on foreign partners and foreign capital issued by the İTO on Tuesday.  (more…)