There were only six REITS in Turkey in 2000. Today there are 23, representing assets of $10 billion, and the sector is still growing. Strong economic performance (the Turkish economy grew 9.2% year-on-year in the fourth quarter of 2010) combined with strong fundamentals such as population and demographics, as well as the poor quality of existing housing stock, mean that the real estate sector outlook is positive. It’s no wonder then that Turkey has been selected as ‘Country of Honour’ for MIPIM 2013.
We were lucky to have a host of great speakers at MIPIM this year to discuss the Turkish REITS sector strengths and weaknesses, exploring which segment represents the main engine of growth of the Turkey REIT sector.
For those who were unable to attend, check out the edited version of this exclusive conference below followed by individual with speakers’ presentations.
Haluk Sur, Board member of Emlak Konut,Turkey’s biggest real estate investment trust: