Ozan Balaban who is the CEO of Emaar Region said high interst rate is a burden for real estate and Turkey.He added:’Rising of exchange rate might be a problem.Turkey is developed country but in terms of interest rate like African country.’

'Turkey is developed country but in terms of interest rate like African country'

‘Turkey is developed country but in terms of interest rate like African country’


Ozan Balaban who is the CEO of Emaar Region said high interst rate is a burden for real estate and Turkey.He added:’Rising of exchange rate might  be a problem.Turkey is developed country but in terms of interest rate like African country.’

Emaar Turkey that is Dubai based firm added a new hotel project to worth $2.3Billion Emaar Square  which is named as ‘The Adress’.Ozan Balaban said:’ All construction costs are provided  by foreign currency.So we are expecting an increase in prices.’

‘We don’t have any currency hedging implementation but because of rising interest rate we made restructuring the payments.High interest rates are the biggest obstacle for the developing of country.’ he said.

The Adress Hotels and Resorts project will service as five-star concept.The Adress Hotel is composed of 183 hotel room and  320 residence apartments.The project consists of 46 storey and the first 11 floor is designed as Tha Adress Hotel.

Squameter prices in apartments start at $5.385.Fifty four  of 70 apartments were sold in Dubai launching.Renting system will implement in The Adress Hotel project.Between twelfth and twenty ninth floor, 197 furnished luxury apartments will be added this renting system.

’85 percent of Emaar Square shopping center was rented.Turkey should be the center of investment and luxurious projects.2 he said. 

http://emlakkulisi.com/turkiye-gelismis-ulke-ama-faizi-afrikali/350586

Nurullah Kırmacı / emlakcoulisse.com