General Manager of Piyalepaşa Real Estate INC. Kaan Yücel make a statement that “Most people come to Turkey and state their attention and when looking at the numbers, you cannot see this attention. Last year, 1 million and 3 hundred real estate property sold, however, only 1.7 of this is bougth by foreign customers. This number is too low, and must be increased.”
In the CNR Real Estate Exposition, fourth of it took place this year, Piyalepaşa Real Estate, with its intensive attention attracting stand, underlined the significance of this exposition for presentation of our country and new projects.
Mr. Kaan, could you please introduce yourself briefly to us?
I am general manager of Piyalepaşa Real Estate Inc. We are doing Piyalepaşa İstanbul Project. Project belongs to Polat Group. Piyalepaşa is the biggest project of this group which is an urban renewal project. Its construction site is 450.000 meter square, 23000 of it can be marketable. This is a combined utilization project having rentable area and composed of 1000 residence, hotel, and office and shopping street.
What do you think about this exposition? What are your expectations?
I pay attention to this exposition since expositions have activities in which we came together with the sector, customers, and sector professionals. We find an opportunity to meet with lots of people, other projects, understand customer requests one-to-one. In this respect, expositions are important. Furthermore, it is also significant in terms of presenting our project, city we live in, and our country. Therefore, we take part in expositions abroad. I find the expositions extremely important. This is the first day and it is undergoing successfully. I think it should be much better.
What do you think about Foreign Investors’ Attention to Turkey?
Actually, I can say that, I am within the people who think that before and after expositions, attention is intensive, however, it does not turn to real sales. We also took part in foreign expositions, most people declared that they visited Turkey and showed their interest, however, when we look at the numbers, this interest is not observed. Last year, 1 million 300000 real estate were sold, however, only %1.7 of them are bought by foreign. This number is too low. It was also like that in the past. It continues to be the same now. This number should be increase.
What can be done for this?
They have some requests such as “When I bought a real estate property, do I have citizenship right?” or “What you present different?” We should develop properties which satisfy their requests. If all of these are done, I believe that the numbers will turn to be real sales.
The Shining Star of Upcoming Period Will be Beyoğlu
What are the places you can say that are absolutely going to increase in value?
When we look at all of the world city centers, we can observe that all of them undergo urban renewal and these places become a statue that real estate properties may not be possible no longer. By looking at İstanbul, I think that main center is İstiklal Street, Beyoğlu. I believe that the places near to these center lines are going to increase in value very much. Because, transportation is no longer too easy but when you locate in the city center you find lots of opportunities. Our project is in Beyoğlu and we are in a place that is very close to all of the bridges, we can be able to reach Nişantaşı and Dolmabahçe by tunnels and İstiklal Street and every place in old İstanbul is within walking distance. For this reason, I believe that the Shining star of upcoming period will be Beyoğlu.
There are lots of urban renewal projects that belong to local governments. Municipalities substantially obsessed with urban transformation. What do you think about the projects of local governments?
We are conducting the biggest urban transformation projects done by private sector. There are nearly 180 risky areas, we think that it is right presentation to take area as a basis compared to taking structure as a basis in urban renewal. Among these 180 area, we are one step ahead, we took our license and started the construction. We experienced all phases of urban renewal, we also provided substantial contribution to the last passed regulation. We are the professionals who knows much about this issue. For this reason, O can say that it is not easy to develop this business wthout municipalities and the government. Projects should be supported by public, only in this way you may have a chance to bring the projects that are more integrated with public together. Therefore, I find the interest of municipalities’ right, however, it is not fully their job, and they should cooperate with the firms that they are going to take part together in these projects.
What are your objectives for the year 2017?
I believe that the attention to the real estate sector is going to continue in 2017. Because, real estate property is appealing in one way or another. I think this trend is going to continue in 2017 and we again will sell more than 1 million real estate property.