Turkey: Boom in hotel, office and logistics markets | MIPIM-World Blog

DTZ provides occupiers and investors around the world with industry leading, end-to-end property solutions. Guenter Theuermann from the REImonitor sat down with Mr. Firuz Soyuer, Managing Partner at DTZ Pamir & Soyuer to gather industry insights, trends and opinions. Don’t miss this exclusive interview!

REImonitor: This year, UGL bought DTZ – what is new, what are the benefits and what can be expected?

Mr. Soyuer: DTZ is a very well known brand, especially in Europe and the US. UGL is a strong company which has been growing from 10.000 to more than 47,000 people within the last ten years, mainly with acquisitions in Asia and the US. DTZ exists as a brand under the roof of UGL, services will remain the same but it is going to be enriched by UGL’s market strength like Facility Management. I am sure it is a very nice merger and the effects will be seen in 2013 onwards and we will profit from a wider network and broader market view since the game is becoming a more global one.

REImonitor: Recently a major rating agency upgraded Turkey to investment grade. Is Turkey on the verge of becoming a major investment market?

Mr. Soyuer: We have seen a similar situation already in 2004, the retail market was very active at that time. Companies bought and new developments started. Currently we foresee a lot of activities in the hotel market, especially for 3-4 star city hotels, not only in Istanbul but also in secondary cities. Room rates are already at high level, foreign arrivals will grow and this will attract new developers, operators and investors who are looking for opportunities. We will see here many transactions.
The other segments which are interesting to take a closer look are Logistics and Offices. We have logistics but compared with international markets, these facilities are sub-standard. We will observe here also changes.
Lack of long term rentals and preleases force local developers to focus individual investors and/or owner-occupiers to sell offices floor by floor which is not acceptable by institutional investors.

Click here to continue reading the interview

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Johannah Cantwell

Social Media Manager for all MIPIM and MAPIC real estate events worldwide.

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