Turkey’s real estate sector to pick up pace

Posted by meb at February 28th, 2008

The real estate sector that went through two elections and foreign crisis in 2007 began this year with great expectations. While January did not live up to expectations, the rest of the year seems to be promising.

Ahmet Rauf Saatçi, regional director of Turkey, Germany and the Balkans at Century 21, a leading chain of real estate agencies both in Turkey and abroad, said Turkey has potential in the real estate sector. Despite this, the transactions in the sector have been worse than expected for the last year and a half. “January is generally a stagnant month; the activity starts from the end of February onward, especially during spring,” added Saatçi, who expects more activity this year. (more…)

Posted in Comments & Analysis, Real Estate| No Comments | 

Airties launches IPTV box production

Posted by meb at February 28th, 2008

AirTies, a Turkish wireless router producer, has launched Internet Protocol Television (IPTV), which enables wireless connection of multiple TV sets through a single satellite box.

The marketing of IPTV will first focus on the Russian market, after which AirTies will start marketing the product in Europe and the United States as well.

IPTV, which enables cable-free television, allows users to rent any broadcast at any time of the day and watch any TV channel in the world. It also has a catch-up function, which allows consumers to watch programs after they have been broadcast. IPTV also has a function that tailors advertisements according to the spectator’s preferences. (more…)

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Turkcell declares $ 1.4 billion net profit for 2007

Posted by meb at February 28th, 2008

Turkey’s GSM operator Turkcell recorded a net profit of 1.4 billion USD in 2007.

“Our net profit was up 54 percent in 2007 over 2006,” executives of the company reported at a press conference.

According to the executives, the revenues of the GSM operator was up 35 percent in 2007 and reached 6.3 billion USD. (more…)

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Albaraka net profits up 50 percent in 2007

Posted by meb at February 28th, 2008

Albaraka Türk, a leading participation bank operating in Turkey’s flourishing interest-free banking industry, saw its profits increase by 50 percent in 2007 over the previous year to YTL 85 million.

In a statement released yesterday the bank noted that the net profits before taxes as of Dec. 31, 2007, were YTL 107.5 million. Total assets increased by 48 percent, to YTL 3.7 billion, whereas total loans climbed by 44 percent to YTL 2.85 billion. The bank’s funds — which are equivalent to deposits in conventional banks — saw a 39 percent increase, reaching a level of YTL 3 billion. (more…)

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Turkey steps up among countries with most billionaires

Posted by meb at February 28th, 2008

The number of Turkey’s billionaires increased by 13 people in 2007 to 36, surpassing the United Kingdom on the list of countries with the most billionaires.

India and Turkey are now tied for fourth place on Forbes Turkey’s list, published on Tuesday. Topping the list is the United States in first place with its 432 billionaires. Germany is second, with 55 billionaires, and Russia is a close third, with 53 of its richest people able to boast assets of $1 billion or more.  (more…)

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Domestic demand protects Turkey, fund director says

Posted by meb at February 27th, 2008

Turkisfund, the subsidiary of İşbank, believes continuing strong domestic demand will limit the impact of a global slowdown on Turkey. Turkisfund opened its Luxembourg branch last October.

“The projected slowdown in world growth has exceptions like Turkey, where continuing strong domestic demand is expected to help the growth of companies,” Zeynep Aslan, director of Turkisfund told the Turkish Daily News. “A key component of the demand is increased public investment. Improvements in domestic conditions should also permit additional easing of monetary policy, bolstering demand to bring about a pickup in the growth of gross domestic product,” she said. (more…)

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TOKI warns the property owners of low-income groups

Posted by meb at February 27th, 2008

The Housing Development Administration of Turkey (TOKİ) warned that the agreements of those who bought homes through projects for low-income groups but did not live there until they finished the payments would be annihilated.

After the complaints about the abuse of the favorable terms under which the houses are sold, TOKİ, which undertook construction project of 3,353 homes for the people without means and of 60,912 homes for the low-income groups, explained that the projects for the low-income groups were ‘preferential,’ and those who want to apply for these projects need to perform certain conditions defined by TOKİ. Accordingly, those who bought houses though these projects were obliged to live there and not to hand them over by the conditions from May 26, 2006 onward to prevent any abuse. (more…)

Posted in Real Estate| No Comments | 

3rd Iraqi International Fair to be held in Gaziantep

Posted by meb at February 27th, 2008

The Union of Chambers & Commodity Exchanges of Turkey (TOBB) will promote the “3rd Iraqi International Fair” which will take place in Turkish southeastern province of Gaziantep.

TOBB Chairman Rifat Hisarciklioglu, Turkish State Minister Kursad Tuzmen, Iraqi Ambassador in Ankara Sabah Omran as well as many Iraqi officials will attend the introductory press conference in Ankara on Thursday.

The fair –which will be held between May 22nd and 25th, 2008– is the only fair which Iraqi Trade Ministry supports abroad. (more…)

Posted in Fairs & Congresses| No Comments | 

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