Turkey aims to focus on high-speed train service in 2010
Monday, December 28, 2009
Turkish State Railways (TCDD) head Süleyman Karaman has announced that the directorate will work to improve the country's high-speed train services in 2010 with plans to invest around USD 3.5 billion next year.
"Turkey ranks eighth in railway technology worldwide and sixth in Europe. The TCDD will focus on high-speed trains in the new year," Karaman noted. Turkey launched the country's first high-speed train service between the Turkish capital province of Ankara and the Central Anatolian province of Eskisehir on March, 2009. TCDD is working to extend this line from Ankara to Konya in the south and from Eskisehir to Istanbul in the west. The high-speed trains features many luxuries, including entertainment screens for every seat that play movies and display the current position and speed of the train. Spacious seats offer plenty of room during the smooth ride. The train can reach speeds of 260 kilometers per hour and will considerably reduce hours-long trips.
He further said that work on the high-speed train line between Ankara and İstanbul is ongoing, as is work on the line between İstanbul and Eskişehir and this line will be operational in 2012 or 2013. He added that they will finish the line between Ankara and Konya in 2010 and Sivas project is continuing at the maximum pace. He also stated that they will renovate the country's railway lines in 2010. These rail developments will transform thousands of journeys, pushing up prices in existing commuter locations and creating new property hotspots along the way.
It is generally believed that improved rail services are unlikely to have as great and impact as new low-cost flights to previously little-known regions of the country, he nevertheless expressed his confidence that prices will rise, particularly in popular holiday destinations.The local market is picking up, being occupied now with the long summer holidays and new measures are now taking effect which leaves the market is wide open for overseas buyers to march in and grab something special in 2010.
Social Bookmarking"Turkey ranks eighth in railway technology worldwide and sixth in Europe. The TCDD will focus on high-speed trains in the new year," Karaman noted. Turkey launched the country's first high-speed train service between the Turkish capital province of Ankara and the Central Anatolian province of Eskisehir on March, 2009. TCDD is working to extend this line from Ankara to Konya in the south and from Eskisehir to Istanbul in the west. The high-speed trains features many luxuries, including entertainment screens for every seat that play movies and display the current position and speed of the train. Spacious seats offer plenty of room during the smooth ride. The train can reach speeds of 260 kilometers per hour and will considerably reduce hours-long trips.
He further said that work on the high-speed train line between Ankara and İstanbul is ongoing, as is work on the line between İstanbul and Eskişehir and this line will be operational in 2012 or 2013. He added that they will finish the line between Ankara and Konya in 2010 and Sivas project is continuing at the maximum pace. He also stated that they will renovate the country's railway lines in 2010. These rail developments will transform thousands of journeys, pushing up prices in existing commuter locations and creating new property hotspots along the way.
It is generally believed that improved rail services are unlikely to have as great and impact as new low-cost flights to previously little-known regions of the country, he nevertheless expressed his confidence that prices will rise, particularly in popular holiday destinations.The local market is picking up, being occupied now with the long summer holidays and new measures are now taking effect which leaves the market is wide open for overseas buyers to march in and grab something special in 2010.
Labels: Infrastructure
New terminal in Istanbul airport set to boost tourism
Tuesday, November 10, 2009
Istanbul property market should receive a much needed boost from greater tourism levels, which are expected to increase, when the new Terminal Istanbul is opened in Sabiha Gokcen International Airport.
The city has two airports; one on the European and Sabiha Gokcen International Airport on the Asian side. The Turkish government is also working on the undersea link via metro to enhance connectivity with the Asian side. The terminal, built in a record time of 18 months, was inaugurated by Turkey's Prime Minister Recep Tayyip Erdogan. "With the opening of this airport terminal building, a new era for economic partnerships has begun. This has opened many more avenues for the Indian and Turkish companies to join hands", said India’s Minister of Civil Aviation, Praful Patel, during the inauguration ceremony.
The new terminal will become fully operational on November 9 and it currently handles five million passengers annually. Turkish Airlines will begin its flights to seven new European destinations including London, Moscow, Amsterdam and Berlin. ris bin Othman, Chairman of Malaysian Airports said that Malaysian Airlines also plans to start operating three times a week to the new airport.
Turkey's Prime Minister Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. He added that the government has plans to construct several new airports in Istanbul which is good news for rental property investors. Despite being the economic and cultural hub of Turkey - the city is also expected to be named the European Capital of Culture in 2010.
Social BookmarkingThe city has two airports; one on the European and Sabiha Gokcen International Airport on the Asian side. The Turkish government is also working on the undersea link via metro to enhance connectivity with the Asian side. The terminal, built in a record time of 18 months, was inaugurated by Turkey's Prime Minister Recep Tayyip Erdogan. "With the opening of this airport terminal building, a new era for economic partnerships has begun. This has opened many more avenues for the Indian and Turkish companies to join hands", said India’s Minister of Civil Aviation, Praful Patel, during the inauguration ceremony.
The new terminal will become fully operational on November 9 and it currently handles five million passengers annually. Turkish Airlines will begin its flights to seven new European destinations including London, Moscow, Amsterdam and Berlin. ris bin Othman, Chairman of Malaysian Airports said that Malaysian Airlines also plans to start operating three times a week to the new airport.
Turkey's Prime Minister Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. He added that the government has plans to construct several new airports in Istanbul which is good news for rental property investors. Despite being the economic and cultural hub of Turkey - the city is also expected to be named the European Capital of Culture in 2010.
Labels: Infrastructure, Istanbul
Government is planning to construct new airports in Istanbul
Thursday, October 8, 2009
Addressing the opening session of the 10th Transportation Council in Istanbul, Turkish Prime Minister Recep Tayyip Erdogan said that his government is planning to construct several new airports in Istanbul.
Erdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. There are currently two airports in the city, Atatürk Airport is on the European side and Sabiha Gokcen is on the Asian side. Erdogan said, "The existing airports cannot meet the growing demand for air travel. A new terminal building will be inaugurated on Oct. 31.
However, this is not sufficient either. We have to construct several new airports in Istanbul."
Despite being the economic and cultural hub of Turkey - the city is expected to be named the European Capital of Culture in 2010. Istanbul's population is currently growing by 1.5 per cent a year, and with all this in mind, it is no real surprise that property investors looking to take advantage of the city's potentially rewarding rental yields.
According to the International Investor's Association, foreign investment in Istanbul property is estimated to reach an all-time high this year, with more than $15 billion set to be spent. Justin Walker from Spot Blue says, "There are a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".
In related news, a recent PriceWaterhouseCoopers and Urban Land Institute survey officially named Istanbul as the second-best place in the world to invest in property, with affordable property prices, cheap living costs and decent rental yields.
Social BookmarkingErdogan said Turkey would invest $350 billion in transportation and communication over the next 25 years. There are currently two airports in the city, Atatürk Airport is on the European side and Sabiha Gokcen is on the Asian side. Erdogan said, "The existing airports cannot meet the growing demand for air travel. A new terminal building will be inaugurated on Oct. 31.
However, this is not sufficient either. We have to construct several new airports in Istanbul."
Despite being the economic and cultural hub of Turkey - the city is expected to be named the European Capital of Culture in 2010. Istanbul's population is currently growing by 1.5 per cent a year, and with all this in mind, it is no real surprise that property investors looking to take advantage of the city's potentially rewarding rental yields.
According to the International Investor's Association, foreign investment in Istanbul property is estimated to reach an all-time high this year, with more than $15 billion set to be spent. Justin Walker from Spot Blue says, "There are a range of city-centre apartments in the popular neighbourhood of Beylikduzu for under £36,000, just 45 minutes from the airport. There are fantastic rental potentials in this bustling part of the city from a growing domestic and international population in Istanbul".
In related news, a recent PriceWaterhouseCoopers and Urban Land Institute survey officially named Istanbul as the second-best place in the world to invest in property, with affordable property prices, cheap living costs and decent rental yields.
Labels: Infrastructure, Istanbul
Bodrum's first-ever luxurious shopping centre
Monday, July 13, 2009
The robust demand for shopping malls in Turkish metropolitan areas has made foreign investors focus on tourist centers and Inholte, the owner of the German LIP group is developing a unique luxury shopping centre in Bodrum, a Turkish centre of tourism.
Germany's LIP (Ludger Inholte Projekentwicklung) partnered by Bodrum businessmen in Atos Capital will construct a class a shopping mall. The project is planned to be completed in 2011, while it will cost USD 100 million worth of investment. The new mall, called Halikarnas Galeri, will bring luxury brands such as Louis Vuitton to Bodrum.
The enclosed shopping centre will encompass a total 78,000 meter-square area and will be Bodrum's first-ever luxurious shopping centre. Bodrum already has one large shopping centre, Oasis, which also operates as an entertainment complex with its multiplex cinema, bowling alley, bars and restaurants.
According to Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), the newly granted incentives will trigger brand new investments and they have been prepared for the first time in Turkey based on an industry analysis. Under the terms of the new incentive law, around TRY 50 million – TRY 1 billion will be invested in 12 sectors.
In related news, Russian businessmen made hotel investments in the past and newly permitted investments are on the way. Mihail Prohorov, one of the world's richest men, who ranked the first in Russian billionaires list last year, will construct a seven-star hotel in Cesme district of the Aegean province of Izmir, according to reports.
Social BookmarkingGermany's LIP (Ludger Inholte Projekentwicklung) partnered by Bodrum businessmen in Atos Capital will construct a class a shopping mall. The project is planned to be completed in 2011, while it will cost USD 100 million worth of investment. The new mall, called Halikarnas Galeri, will bring luxury brands such as Louis Vuitton to Bodrum.
The enclosed shopping centre will encompass a total 78,000 meter-square area and will be Bodrum's first-ever luxurious shopping centre. Bodrum already has one large shopping centre, Oasis, which also operates as an entertainment complex with its multiplex cinema, bowling alley, bars and restaurants.
According to Alpaslan Korkmaz, President of the Investment Support and Promotion Agency of Turkey (ISPAT), the newly granted incentives will trigger brand new investments and they have been prepared for the first time in Turkey based on an industry analysis. Under the terms of the new incentive law, around TRY 50 million – TRY 1 billion will be invested in 12 sectors.
In related news, Russian businessmen made hotel investments in the past and newly permitted investments are on the way. Mihail Prohorov, one of the world's richest men, who ranked the first in Russian billionaires list last year, will construct a seven-star hotel in Cesme district of the Aegean province of Izmir, according to reports.
Labels: Bodrum, Infrastructure
Bodrum Turkbuku is set to benefit from a new marina
Wednesday, March 11, 2009
The Mayor of Bodrum Turkbuku town Halil Ibrahim kaynar announced that the town will build a new 600-yacht-capacity marina, which could boost tourism in the region.
Kaynar said that the marina will cost approximately $30 million and its construction will last for two years.
He commented: "Turkbuku is a popular place for many important names from the art, sport and business industries. The new marina will be built in European standards and when it is completed, the tour district will gain more importance," he said. The mayor added that the project, which will use the build-operate-transfer model, will also host a space for fishing boats and the marina project has strengthened the position of the on-going Urban Design Project.
Bodrum has already been pronounced as a tourism centre by the nation's Ministry of Culture and Tourism and it is hoped this new development will boost interest from holidaymakers. Gunduz Nalbantoglu, chairman of the Bodrum Chamber of Maritime Trade said that the Bodrum Peninsula already has three marinas working at full capacity. A fourth marina will be good for the district.
Commenting on Bodrum, the Sun newspaper said: "property prices have increased recently as the peninsula has realized its potential for tourism". The publication suggested that Bodrum peninsula could provide a lifetime investment, especially since it had the potential to be more lucrative than a purchase in the UK.
Social BookmarkingKaynar said that the marina will cost approximately $30 million and its construction will last for two years.
He commented: "Turkbuku is a popular place for many important names from the art, sport and business industries. The new marina will be built in European standards and when it is completed, the tour district will gain more importance," he said. The mayor added that the project, which will use the build-operate-transfer model, will also host a space for fishing boats and the marina project has strengthened the position of the on-going Urban Design Project.
Bodrum has already been pronounced as a tourism centre by the nation's Ministry of Culture and Tourism and it is hoped this new development will boost interest from holidaymakers. Gunduz Nalbantoglu, chairman of the Bodrum Chamber of Maritime Trade said that the Bodrum Peninsula already has three marinas working at full capacity. A fourth marina will be good for the district.
Commenting on Bodrum, the Sun newspaper said: "property prices have increased recently as the peninsula has realized its potential for tourism". The publication suggested that Bodrum peninsula could provide a lifetime investment, especially since it had the potential to be more lucrative than a purchase in the UK.
Labels: Bodrum, Infrastructure
High-speed rail network set to boost tourism
Wednesday, June 11, 2008
Tourism and foreign investment in Turkey could be set to increase as a result of improved accessibility.
Anatolian News Agency has reported that Turkish State Railways (TCDD) wants to open up a new high-speed rail service to the public before the end of the year. TCDD director general Suleyman Karaman has commented that the infrastructure is already complete, while links to other destinations including Sivas are near completion. He further said that modern station buildings and related developments such as shopping centres and tourist accommodation will also be built near the new stations.
This has prompted property experts and media outlets to predict that number of vacationers and overseas property investors to Turkey would be increased. Rumi Dogay of the Pamucak Union of Tourism Investors has said that many traditional European destinations are on the brink of an economic recession, many tourists are traveling slightly further afield to places which offer better value for money. As a result, Turkey is expected to attract a record number of tourists in 2008.
This will be a positive development for overseas property investors who have purchased rental accommodation in the country, as they indicate that they may benefit from extra rental demand in future. The booming tourism leads to the value of property in certain hotspots going up. Consequently, investors would be able to collect the proceeds of substantial capital growth.
The Times has recently highlighted Turkey as a good destination for holidaymakers who need "their annual dose of Mediterranean sunshine".
Anatolian News Agency has reported that Turkish State Railways (TCDD) wants to open up a new high-speed rail service to the public before the end of the year. TCDD director general Suleyman Karaman has commented that the infrastructure is already complete, while links to other destinations including Sivas are near completion. He further said that modern station buildings and related developments such as shopping centres and tourist accommodation will also be built near the new stations.
This has prompted property experts and media outlets to predict that number of vacationers and overseas property investors to Turkey would be increased. Rumi Dogay of the Pamucak Union of Tourism Investors has said that many traditional European destinations are on the brink of an economic recession, many tourists are traveling slightly further afield to places which offer better value for money. As a result, Turkey is expected to attract a record number of tourists in 2008.
This will be a positive development for overseas property investors who have purchased rental accommodation in the country, as they indicate that they may benefit from extra rental demand in future. The booming tourism leads to the value of property in certain hotspots going up. Consequently, investors would be able to collect the proceeds of substantial capital growth.
The Times has recently highlighted Turkey as a good destination for holidaymakers who need "their annual dose of Mediterranean sunshine".
Labels: Infrastructure, Tourism
New airport at Gazipasa makes Turkey a property hotspot
Tuesday, April 29, 2008
Turkey is anticipated to become one of the most popular destinations from Gatwick to the Mediterranean this year, since the announcement of the new airport at Gazipasa near Antalya.
Simon Ryeland, Director of Principal International has said that increase in number of flights expose this region. This will attract more vacationers and investors looking for property to rent out. British Airways have announced that they will operate 3 flights per week from Gatwick to Antalya from April. The move by the airline signals the growing popularity of the region of Antalya with British holidaymakers. Antalya International Airport already comes second in the busiest airport terminal on the Mediterranean coastline and 14th in the world during 2007.
This is exciting news for the region that has already seen an increase of 25% in tourist numbers since last year. Now travelers will be able to choose from the increased number of flights. Property investors can expect good rental profits and high occupancy in low tourist season also as year round sunshine in turkey extends the rental year.
The Ministry of Forest and Agriculture in Turkey has issued a White Paper on guidelines and restrictions to be introduced up to the year 2025 to ensure that its immaculate and unspoilt coastline remains that way. It may have some impact in the number of new construction but tourism is on the high, the Turkish Riviera will be protected for generations to come and the same high level of tourism can be maintained.
Buildings is restricted to enable coastal resorts to grow but without spoiling any of the natural beauty of turkey, while those who have already invested in properties reaping the rewards of inflation in house prices and high rental yields in all areas which is stimulated by a shortage of available resale and new units.
Simon Ryeland, Director of Principal International has said that increase in number of flights expose this region. This will attract more vacationers and investors looking for property to rent out. British Airways have announced that they will operate 3 flights per week from Gatwick to Antalya from April. The move by the airline signals the growing popularity of the region of Antalya with British holidaymakers. Antalya International Airport already comes second in the busiest airport terminal on the Mediterranean coastline and 14th in the world during 2007.
This is exciting news for the region that has already seen an increase of 25% in tourist numbers since last year. Now travelers will be able to choose from the increased number of flights. Property investors can expect good rental profits and high occupancy in low tourist season also as year round sunshine in turkey extends the rental year.
The Ministry of Forest and Agriculture in Turkey has issued a White Paper on guidelines and restrictions to be introduced up to the year 2025 to ensure that its immaculate and unspoilt coastline remains that way. It may have some impact in the number of new construction but tourism is on the high, the Turkish Riviera will be protected for generations to come and the same high level of tourism can be maintained.
Buildings is restricted to enable coastal resorts to grow but without spoiling any of the natural beauty of turkey, while those who have already invested in properties reaping the rewards of inflation in house prices and high rental yields in all areas which is stimulated by a shortage of available resale and new units.
Labels: Antalya, Infrastructure, Investment-property
Urban transformation in Istanbul
Friday, March 28, 2008
Sabri Ateş, chairman of the Istanbul Real Estate Dealers Chamber, said urban transformation projects in Istanbul should start right away and must be completed in next 5 years.
The rehabilitation of the old residential areas; old houses that were constructed illegally and in insalubrious condition would be replaced with fresh ones with the green areas, parking areas and social facilities. The future of the Istanbul will depend on this urban transformation which will make it as a truly cohesive society. The construction sector has direct influence on other sectors .The urban transformation will be focused to balance conservation, utilization for sustained growth and reduce earthquake repercussions.
Mr.Ateş said that the urban transformation project which would positively affect the Turkish economy should be effective immediately for the salvation of Istanbul and to develop a long term plan for maintaining and strengthening of infrastructure. The selection criteria for the urban transformation will be based on technical feasibility, financial viability and environmental prosperity.
Social BookmarkingThe rehabilitation of the old residential areas; old houses that were constructed illegally and in insalubrious condition would be replaced with fresh ones with the green areas, parking areas and social facilities. The future of the Istanbul will depend on this urban transformation which will make it as a truly cohesive society. The construction sector has direct influence on other sectors .The urban transformation will be focused to balance conservation, utilization for sustained growth and reduce earthquake repercussions.
Mr.Ateş said that the urban transformation project which would positively affect the Turkish economy should be effective immediately for the salvation of Istanbul and to develop a long term plan for maintaining and strengthening of infrastructure. The selection criteria for the urban transformation will be based on technical feasibility, financial viability and environmental prosperity.
Labels: Economy, Infrastructure, Istanbul
