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Posted On: 25/11/2011
Apparently foreign direct investment in Turkey has reached a two-year high, with investments during the second quarter of this year totalling $200 million. The total value of property sales to foreigners to in the second quarter of 2011 was $781 million, and according to data in a report issued by the Association of Real Estate Investment Companies (GYODER) direct foreign investment more than doubled during the second quarter compared to the first quarter. Total FDI for the first six month of the year reached $292 million.
The second quarter of the year was very good for business investments as the commercial property sector saw sustained growth as demand for office and retail space continues to grow. Shopping centres are proving to be particularly popular for investors as the new middle-class have improved purchasing power, prompting greater development of this sector. During the third quarter of this year a total of six new shopping centres were opened, three of which were in Istanbul, giving a further 249,550 m² of rentable space. The second quarter also saw an increase in the number of new construction permits for industrial buildings and warehouses.
Many of the international investors choosing to operate in Turkey are German, with a total of 4,688 German companies being active in the country. All in all there are 28,500 overseas companies active in the country, and the United Kingdom has 2,345 firms while the Netherlands has 1,981 firms. Most foreign investors have poured money into the country's larger cities including Istanbul, Ankara and Antalya, with Istanbul proving to be the most popular.
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