Istanbul Airport Excitement in Turkish Real-estate Sector

ISTANBUL,April 3,2019 --Istanbul Airport has been officially opened on 29th October 2018 and the mobilisation of the airport will be completed in the first week of April. Istanbul Airport will be one of the strongest airports in the world with an annual 200 million passenger capacity.

Istanbul Airport

Istanbul has been a bridge between east and west,Europe and Asia throughout the history. With this new airport,the city is now more active in the aviation sector. Bayram Tekce,Chairman of Antalya Homes Emlak Inc.,the leading real estate company that operates in different regions of Turkey,defined Istanbul Airport as the new driving power for the Turkish economy and real-estate sector.

"NOT JUST AN AIRPORT. ISTANBUL COULD BE AEROTROPOLIS."

Tekce stated that Istanbul Airport is a strategically important project for Turkey by saying that such projects will increase the brand value of İstanbul for more investment and this new airport will consolidate İstanbul as a"HUB" in international civil aviation:

"Projections show that Istanbul Airport will employ approximately 225,000 peoplein 2025 with a $4.2 billion household income contribution. This mega project will have approximately 4.9% share in GNP. These numbers alone can reveal how important it is for Turkey."

"PROPERTY SALES TO FOREIGNERS WILL ACCELERATE WITH ISTANBUL AIRPORT."

Istanbul Airport,as one of the most important investments of Turkey,will positively contribute to real-estate and tourism sectors. Tekce explained that Turkey is ranked topin property purchases by foreigners and foreigner interest will significantly increase in buying property in Turkey:

"Last year,in Turkey,40,004 properties were sold to foreigners. In the first two months of 2019,sales increased by 87% compared to the same period of the previous year. This year,sales will accelerate even more with İstanbul Airport. İstanbul is a top destination for foreigners to buy Property in Turkey.Last year,14,270 properties were sold to foreigners in İstanbul. We predict that this number will double in the next 3-years and reach 30,000 per year. We believe that we will have a success story with our offices in İstanbul,Antalya and Trabzon."

Tekce expressed that Istanbul Airport will be the driving force of Turkish economy:

"According to a PwC study in England,each 10% increase in a country's seat capacity in aviation has a 1% contribution to short-term economic growth. Recent developments show the importance of economic growth. PwC's study alone reveals the importance of Istanbul Airport."

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Mehmet Yilmaz

mehmet@wirecon.com

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