Hotel and shopping center investments cluttered in Istanbul, Ankara and İzmir, the three biggest cities of Turkey, have been gliding toward Anatolian cities where the population exceeds one million, said Turkey branch officials of Euro Hypo Bank and Aareal Bank, both German banks, which specialize in commercial real estate.
“The commercial activity in Istanbul, Ankara and İzmir has spread to the Anatolian cities,” said Cenk Arson, Turkey representative of Euro Hypo Bank, adding that foreign investors discovered Anatolia well before Turkish ones. “Foreign investors have begun to undertake various projects in Eskişehir, Konya, Manisa, Gaziantep and Erzurum. A Dutch company is building a shopping center in Erzurum. We, as Euro Hypo Bank, are preparing to grant loans for three shopping center projects in the southeastern city of Gaziantep, the eastern city of Erzurum and Ankara,” said Arson.
”The investors have been investing in cities like Konya in central Anatolia, Gaziantep, Adana and Antakya in the south for some time since the prices are too high in Istanbul. Istanbul also suffers from the lack of land,” said Şenay Azak Matt, Turkey CEO of Aareal Bank in her statement.
Investment Property overseas
