Zorlu Property Group, the real estate arm of Turkish industrial conglomerate Zorlu Holding, has over $6 bn (EUR 4.5 bn) of real estate under development or at the planning stage throughout Turkey, Zorlu's deputy general manager Mehmet Even told PropertyEU. 'Turkey's young population and its demographics make the energy and the retail property industries the most promising for investment,' Even said.
Zorlu Property Group, the real estate arm of Turkish industrial conglomerate Zorlu Holding, has over $6 bn (EUR 4.5 bn) of real estate under development or at the planning stage throughout Turkey, Zorlu's deputy general manager Mehmet Even told PropertyEU. 'Turkey's young population and its demographics make the energy and the retail property industries the most promising for investment,' Even said.
A key driver for growth in the sector is a plan announced by the Turkish government to launch a state-sponsored construction project to build safe and sustainable cities in the wake of last year’s earthquake. Analysts believe the size of this investment programme could reach up to $255 bn. 'The real estate sector is poised for rapid growth mainly due to the need to rebuild most of the current real estate stock to make it earthquake-resistant,' Even pointed out. Istanbul remains the best location for commercial property development.
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