KUWAIT: More than 10 percent of the 300 plus rooms/apartments recently opened by Astay Real Estate Company in Istanbul, Turkey (OnaltiDokuz), high-end property, are owned by Kuwaitis. Speaking to Kuwait Times after a press conference held at JW Marriott Hotel yesterday, Cemalettin Akgul, Sales and Marketing Director at Astay, said Kuwaitis were the first takers in the project as they are considered the best investors in the world right now. "Whenever there are good projects in Turkey, you will always find Kuwaitis in the picture and they are the first takers in many of our projects.
They are good at sensing the opportunities," said Akgul, who acknowledged the presence of about 40 VIPs' families from Kuwait who owned and bought properties in the newly opened OnaltiDokuz. "Kuwaitis are leaders in this business. They are good businessmen and spenders. I am here today to personally thank them and also invite more investors, to invest in our booming real estate company," he added. Kuwaitis continue to diversify their businesses and buy properties outside their country. "We came to Kuwait to cater to the needs of Kuwaitis who are known to be sophisticated in their selection of real estate properties.
OnaltiDokuz Istanbul will be a residential area perfectly catering to the needs of unique and high class residential dwellings in Istanbul since it is not only defined by stylish and modern furnishing compatible with neo-ottoman style but by the panoramic views of Marmara sea and the Princes' Islands from the old Istanbul City and the Bosphorus in the east to the New Istanbul City and Yesilkoy in the south." The location, according to Akgul, is one of many considerations for many takers (buyers) as it is located in the land from where you can have an entire view of the oldest and busiest city in Europe, Istanbul. "The occupancy now is about 90 percent. It is almost sold out and people are still coming to buy.
But we are here not only to invite Kuwaitis, but to thank them for their trust and confidence in our projects. It was really very overwhelming to see many Kuwaitis coming to Turkey and considering our place as their home," Akgul said. Foreign investors in Turkey are treated just like the Turkish people. "We do not see other investors as foreigners. They are part of the country and, in fact, if you purchase a property in Turkey, you will be granted a one year residency in Turkey," he noted. OnaltiDokuz is a three-tower commercial and residential complex which attracts the attention of many Kuwaitis.
The residential complex is unique in style, located on a 30-acre stretch, where apartments from ground floor to the top have a panoramic view of what Istanbul Turkey city is all about. The place also boasts of shopping facilities featuring some of the most high-end brands and a social area for both children and adults alike. It also takes pride in having indoor parking besides social and landscape facilities that are considered as high-end and very sophisticated. "At Astay, we believe that the results we achieve will be not less than perfect when each division of our system complies with the highest level of standards. We want to expand and share our achievement with Kuwaiti people and we are confident that OnaltiDokuz will perfectly meet their expectations," Akgul noted. Akgul presented their projects to a group of invited media and some Kuwaiti investors. Established in 2004, Astay aimed at developing real estate projects in Turkey and improving the quality of life of its residents.
Istanbul Four Seasons Hotel Bosphorus and Four Seasons Sultanahmet hotels are just two of their projects in recent years. Asked about the growing competition with other real estate companies, he said, "I don't think we have a problem with that. In fact, we encourage them to compete because only then we would be able to achieve high standards in real estate properties which we offer," he mentioned. He said the real estate properties in Turkey are yet very affordable, compared to these in some big cities around the world. "We have a stable government and investors usually consider the political stability of the country before buying properties. Turkey is known to be stable for years now and it will remain stable in the coming years," he concluded.
© Kuwait Times 2013
