New EU-Turkey agreement to bolster relations and cement trade
An updated Customs Agreement between Turkey and the EU is set to cement Turkey’s importance as a trading partner and solidify its role in a lucrative free trade agreement with the US. The Customs Agreement has been in place for almost 20 years, and has not kept pace with Turkey’s position as a trading partner and threatened its position in future trade deals. The updated agreement will not only open Turkey up to foreign markets, but is paving the way for future trading and energy deals with the EU.
Turkey’s tech boom: a 2015 forecast
Technology is booming in Turkey, with overseas and domestic investment facilitating a rapid growth in software development and communications technology. Turkey’s youthful population is driving the demand for better, faster communication and transforming the way Turkish businesses work, with an emphasis on independent, mobile-connected working units. Spending in the technology sector is set to reach US$11.7 billion this year as the sector hits its stride.
Turkey to be the energy distribution hub of Europe
A gas pipeline connecting Azerbaijan's largest natural gas fields to Europe via Turkey is set to cement Turkey's status as the crossroads between Europe and the Middle East. The move will make Turkey the region's key energy distributor and ensure future access to lower-cost gas. The pipeline will also allow Turkey to distance itself from Russia, who previously supplied the country with most of its gas supply.
Dubai glitz plus Bodrum glamour equals unparalleled luxury
The hotel formerly known as the Golden Savoy will become Jumeirah Bodrum Palace Hotel - the second Jumeirah in Turkey after the Pera Palace Hotel Jumeirah in Istanbul - a sure sign of the prestige that Bodrum is held in amongst those who appreciate all things luxury and a high quality of life with the finer things at your finger tips or even closer.
Wealthy Turks invest in Turkish real estate
Forbes’ annual “rich list” was released a couple of weeks ago and an analysis by the magazine showed that Turkey’s wealthiest are investing in Turkish real estate, with 85 of the top 100 richest Turks holding significant stakes in property. Turkey’s economy has remained strong in the face of global turmoil, making it a natural choice for safe and profitable investment. We outline the top spots for investing in Turkish real estate, and what makes them stand out from the crowd.
Gender equality: the women of Turkey speak out
Turkish women are making headlines around the world with their social media-led campaigns urging for equality and an end to women-directed violence. Educational reforms have already begun to make changes in a country where illiteracy rates are five times higher for men than women, but the women who are now finding their voices are asking for change - and fast.
Turkey’s top investment sectors revealed
Investment in Turkey remains high, with foreign interest focussing on pensions, mining, automotive, dairy and shopping centres. New laws introduced over the past two decades have ensured investing in Turkey has not only become easier, but that it’s now immensely profitable. Turkey is now among the top vehicle manufacturers in Europe, and only Russia has more shopping malls. The dairy industry is tipped to grow exponentially, as is the pension sector, after measures introduced in 2013 transformed the country’s pension schemes.
Forward-thinking renewables plan to transform Turkey's energy sector
The scope for renewable energy sources like geothermal, wind and hydropower in Turkey is huge, and so far relatively untapped. However, this is set to change with an ambitious plan concocted by the Turkish Energy Ministry and the European Bank for Reconstruction and Development aims to have a third of Turkey's energy sourced from renewables by 2023. Investment is being poured into infrastructure and development, which will allow Turkey to transform its energy sector while aligning itself with EU protocol.
Branded projects changing the face of Istanbul property
Branded residential projects are being built in almost every district of Istanbul. At the expensive end they’re creating revenue for the city as investment properties, and at the lower end they’re providing much-needed accommodation for the ever-growing city, accommodation that’s regulated and soundly built. A study conducted by EVA Real Estate Consultancy shows that branded residential projects are on the rise, with new developments being built in almost every corner of the city.
Turks at the top: the 32 Turks on Forbes’ billionaire list
Yesterday Forbes Magazine released its annual billionaire list, profiling the 1826 wealthiest people over 70 countries. As well as containing a few familiar faces (hello again, Bill Gates) it also contained 32 Turks. From the former Russian secret service agent-turned-tycoon to the rocky fortunes of the yogurt king of America, we’ve profiled the top Turkish billionaires who are making their mark at home and around the world.
Online sector boosted by investment in the Amazon.com of Turkey
A group of Gulf investors has just bought a stake in Turkey’s largest online retailer, Hepsiburada, in a 350 million Euro deal that is set to propel the company - and the country - into a new era of online shopping. Half of Turkey’s population is under 30, and they are becoming increasingly educated and online-savvy, a fact that hasn’t escaped investors looking to capitalise on this emerging demographic. Hepsiburada.com receives 14 million unique visitors a month and is aiming to become the next Amazon.com - a goal that looks achievable with the might of Abraaj’s investment behind it.
“Big Three” Istanbul streets in Europe’s top ten for rental increase
Three Istanbul streets have made the top 10 ranking for rental increases in Europe, according to a real estate consultancy. Istiklal, Bagdat and Abdi Ipekci avenues are three arteries that make up Istanbul’s beating heart - and as such they are prime real estate locations, commanding eye-watering rents. Istanbul’s growing population is propelling a rental and investment boom, and the scramble for property in this huge city is rarely out of the news. With so much potential for investment it’s unlikely that demand will flag anytime soon, earning this huge city its much-deserved reputation as one of the top investment locations worldwide.