.: MedRose :. NEWS & REPORTS :: Eastern Promise : Turkey’s Booming Regions


	NEWS & REPORTS
	Eastern Promise...
	Turkey’s Booming Regions
	Turkey’s Demand for New Commercial & Residential Centres Goes East...
	The Marmara Region of Turkey which covers Istanbul, Bursa and Kocaeli have reached saturation point in terms of development.

	Government backed infrastructure projects as well as the Construction Sector and Property Investment and Development Sectors are looking at developing emergent cities along the Mediterranean South Coast of Turkey. Target cities include Gaziantep, Iskenderun Adana, Mersin and Antakya, the main reasons being the considerable growth of manufacturing in various sectors mainly textiles and automotive parts, as well as the Agricultural and Energy sectors. All of the sectors have grown and benefitted since the late 1990s due to government backed projects and incentives for cheap electricity as well cheap water for irrigation from the hydroelectric dams constructed in the GAP Project in the South East Region of Turkey.

	Lower Costs + Higher Standards
	Furthermore, the standards of living are higher; the cost of living is lower and commercial operating costs also lower in these cities when compared with Istanbul and other cities in the Marmara Region such as Bursa.

	As a result many industries in Turkey have gradually moved East, establishing manufacturing and processing facilities first in Denizli for Textiles then further East to cities such as Konya, Kayseri, Adana, Gaziantep and companies continuing an eastward expanding for operations.

	Logistics
	Logistics is a major issue in the Eastern Mediterranean region of Turkey, especially at major port cities such as Mersin and Iskenderun. With a significant increase in exports from 2001 to 2007 and an increasing demand for goods and agricultural and food products in Western Europe and the Gulf States, Port Services are stretched to their limits. Non-Perishable Goods can often stay in container ports for up to 3 months to ensure priority for perishable food and agricultural products are transported by sea.

	Work Force Migration
	With the growth in commerce in the South East Mediterranean Region of Turkey, the attraction of a more stress free lifestyle and lower cost of living, more and more young professionals and graduates are escaping, or returning to cities like Mersin after a few years of work experience in Istanbul and graduation from university. There is less competition and high demand for a young, educated, experienced, bilingual and highly skilled workforce in the Eastern Mediterranean.

	Retail Opportunities
	With such migration of the work force, new retail centres such as hypermarkets and shopping and lifestyle centres are much needed, as there is a lack of foreign brands and consumer goods available in the Eastern Mediterranean region. Most people especially, professionals working in the Eastern Mediterranean cities of Turkey usually do their shopping on business or family trips to major cities such as Istanbul Ankara or Izmir where there is a greater choice for foreign designer brands and electronic consumer goods.

	Luxury Residential Opportunities
	With a growing executive work force in the Eastern Mediterranean, there are demands for quality housing especially for young families requiring who require homes built with the capabilities to handle modern living and technologies. As land and construction are relatively cheaper than Istanbul in cities such as Gaziantep, Iskenderun and Mersin there are considerable opportunities and demand for the development of gated communities similar to those developed on the outskirts of Istanbul where there has been a boom in Satellite Cities. Such developments in and around cities such as Mersin and Gaziantep would add value, raise the profile and make those cities an attractive alternative to densely populated cities such as Istanbul and Ankara. Furthermore, inhabitants in cities like Mersin have the benefit of year round sunshine, countryside and beaches to escape from the stress of an over developed and over populated Istanbul where the cost of living has hit an all time high, commuting to work and traffic problems have hit the point of being intolerable in certain districts.

	Friday 20 November 2007


	Coming Soon

	PRE-EMERGING CITIES The current trend is for Foreign Investment Firms looking to invest in and develop new satellite cities. We look at new, attractive and strategic investment locations.. SHOPPING MALL FEVER Istanbul now has over 80 Shopping and Lifestyle Centres with a pipeline of 1,651,242 metres square of further retail space under construction throughout Turkey..