Eurohypo, the Frankfurt-based bank, plans to expand its activities in Turkey where it is has already extended EUR 560 mln in credit for five finalised real estate projects. Cenk Arson, head of of the Istanbul office for Eurohypo told the English-language New Anatolian publication that the bank was working on six to seven other projects, some of which are in the final stages.
Eurohypo, the Frankfurt-based bank, plans to expand its activities in Turkey where it is has already extended EUR 560 mln in credit for five finalised real estate projects. Cenk Arson, head of of the Istanbul office for Eurohypo told the English-language New Anatolian publication that the bank was working on six to seven other projects, some of which are in the final stages.
He said the original target of EUR 500 mln in credit in three years had been surpassed in less than one. But Arson said Eurohypo's view of the Turkish market was twice as optimistic as other banks in Turkey, with Eurohypo extending high volume credit for longer terms. Arson said the new target for credit volume has been set at $1-2 bn.
Saying the bank is holding meetings with foreign investors interested in Turkish real estate, Arson added: There are some investors who consider $300 mln to $500 mln deals in Turkey. Some others go even higher to $1-2 bn levels.'
