The concept of real estate development in Turkey
The real estate market in Turkey is characterized by its continuity and diversity, as it covers all types of real estate of various names, whether they are villas, houses, farms and lands. The demand for this type of project is huge, and the main reason for this great demand is due to the fact that this type of project has huge profits and high success rates.
Real estate development projects have received a lot of acceptance and the demand for them has increased recently, as a result of having contributed to making a successful experience, and crowned with huge profits for many investors, in addition to a lot of services and facilities provided by real estate companies in Turkey. These companies have the most important role in contributing in the success of this type of project.
• What is real estate development?
It is a successful business and investment that includes the activity of making modifications to the real estate, such as partial and total repairs to the old and neglected property, renovation of the existing building, or the purchase of vacant land and turning the idea into a reality by establishing a new real estate project and then marketing and selling it after that. The main objective requires the investor or developer By making these necessary modifications to the property, the name of this process becomes "real estate development".
• Who is the real estate developer?
The real estate developer may be in the form of a company or it may be a person, in both cases, the real estate developer makes the necessary modifications and developments to the property to be modernized or modified, and this person is usually an expert in the field and is familiar with all the necessary procedures for this process, and his options are multiple His knowledge is accurate and strong in the real estate market, and he puts the necessary ideas and improvements on paper and transfers them on the ground to become a reality.
• Real estate development in Turkey and its divisions
Real estate development in Turkey is divided into three sections:
- Construction within the new areas: it targets newly established and developed areas, aiming to ensure new and luxurious residential buildings, and today it is considered one of the most successful and distinguished real estate and investment projects ever, and such projects of course require huge capital, usually such projects are supervised by the Before huge construction companies that are well known within the Turkish market and have great financial capabilities.
- Demolition of old buildings and their restoration: It is popular in Turkey and is called “urbanization” and this process is different from its predecessors, here the procedure is not partial and the modification is not limited to certain matters, no, the modernization here and the modification is purely island.
• Elements of real estate development
The Merchant: He is the financier of the real estate development project
- Contracting companies: they implement the project steps, within the plans submitted to them.
- Real estate agencies: their role is the link between the financier and the companies, where their role also requires supervision, follow-up and submitting the necessary proposals and improvements, in addition to their important role in the process of promoting this project before its completion.
• Cadres that contribute to the success of real estate development
It is important for there to be follow-up by specialized teams and cadres working to make the project a complete success. There must be:
-A department for studies and research in the real estate company to follow up on the market permanently and update its data.
- Investment Management Department, due to the importance of the developer's ability to manage the capital that is employed in his projects.
-A scientific advisory staff specialized in preparing economic studies for investment proposals and projects
• Features of real estate development in Turkey
Turkey is one of the most famous countries in the world at the economic level. It is a country with an economic fleet to be reckoned with, and its advantages on this level are almost endless, the most important of which is its unique geographical location, it is the link between Asia and Europe and an important gateway for both Arabs and foreigners, its moderate and distinctive climate, its wonderful nature and many of the ingredients Which is in the interest of the real estate and investment market, in addition to the efforts made by the Turkish state to improve its real estate development through planning and building projects and setting a future vision aimed at improving and raising the ceiling of the challenge among the countries of the world, the advantages in it are endless, and it is the best and reassuring option for many developers and investors .
Real estate development projects are fruitful and important projects, the elements of which are clear and specific, need perfect management and organization, like other projects in order to return to the project owner with profits and successes.
Real estate development in Turkey is one of the most important things Turkey is witnessing, and it is not only limited to modernization and giving a modern touch to real estate, but it is much more than that and is an important positive addition to Turkey's economy and a correct and necessary step taken in the real estate field.
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