Nurettin Eroğlu Emlakdreamtv'de

Yes, indeed this is our third time participating. I've never seen this much crowd and interest. This may be Turkey's luck — Turkey is the guest of honor country this year. All Turkish firms have showcased themselves, and genuinely all our projects are attracting the attention of buyers and visitors from around the world. This is a result and indicator of where Turkey has come in recent years. There's real interest in our projects, especially in our Seyrantepe Skyland project, both the office and hotel components. We have ten projects total and brought three here: Seyrantepe Skyland, Merter Platform, and Kağıthane Ofishane. We're seeing serious demand for Ofishane — there are buyers wanting to acquire the whole thing.

Dubai and Abu Dhabi funds are interested in both projects. We've been in discussions with firms from Germany and Spain as well. Previously people would come just to look around, but this year it seems like they're really coming to try their luck with Turkey. People are actually discussing prices and demand now, rather than just visiting and leaving like before.

Fairs aren't as much about closing deals as they used to be. It's the same in textiles — we participate in European fairs now. Previously you'd get serious orders, but now it's more of a showcase, a meeting place, a demonstration. Real estate fairs are the same now — they're not just about buying and selling but also about promotion, marketing, and prestige. That said, the real goal is still buying and selling, and trade. If we follow up on this momentum with these funds, we'll be selling and marketing our projects.

The project has four components: a hotel, offices, a mall, and residences. We had already done a pre-sale of the residences about six weeks ago — to people we knew, existing customers, and contacts in the market — and we've sold 20% so far with serious demand. We introduced it internationally here and presented it to the press for visitors from our countries. But the main launch will be on the 26th, where we'll also kick off a campaign. It's a very important project for us, for Istanbul, and for Turkey, given the location and the emerging potential of the area.

Yes, there's one mall, two towers — one residential and one office — and a hotel tower. There's currently serious demand for both the hotel and the office block, including offers to acquire them entirely, especially from a Spanish firm, a Spanish investment fund, and an Abu Dhabi fund.

We didn't give a price. It wouldn't be right to discuss pricing here. In a first meeting, a seller who gives a price right away isn't a good seller, and a buyer who asks for a price first isn't a good buyer. These are just preliminary inquiries. We only discussed the general framework.

There's a fund from Dubai that wants it, and there are already many interested parties in Turkey. Having tenants in the offices is also important.

Let me put it this way — Turkey is currently a shining star in the world. In ten years we've gone from a per capita income of 2,500 dollars to approaching 14,000–15,000 dollars. By 2023, hopefully we'll reach 25,000–30,000 dollars, and with a national income of two trillion dollars, considering our country's position as a bridge between East and West, a warm country in a cold neighborhood, a Muslim country in the Middle East, and what it means for the Muslim world to have a country where the caliphate once existed — we need to act with that awareness. That's why I see Turkey's future as very bright, from the Muslim world, the Middle East, Eastern Bloc countries, and the West. The key is maintaining political stability and having our young generation grow up with business-oriented awareness. I believe Turkey's path is open.

We have a total of 141 projects. Seven or eight are completed, and we currently have eight active projects. We'll complete three more in the next three months — the Antalya mall opens at the end of this month. Actually, 2013 is a bit of a harvest year for us. We sowed in 2010, 2011, and 2012, and now we're reaping. We're opening Flori in six months. We'll have just five projects left after this. We aimed to add five this year, and while we haven't hit all five, three more are in the pipeline — two are nearly finalized. So we'll finish the year with eight projects.

I've mentioned Seyrantepe, Merter finishes in April, Antalya at the end of this month, Halkalı 2 finishes, the Flori project continues, we have the logistics project in Kıraç, the project in Gürpınar, Bursa continues, and Seyrantepe continues. That's five projects continuing into next year. Bursa finishes in September. Seyrantepe is a long-term project. We plan to consistently maintain eight projects, with a total of 2 million square meters of construction area.

One is urban transformation, the other isn't. One is close to our existing project but large — about 3,500 units. I won't be too specific since the deals aren't finalized yet.

Thank you very much. I'm really happy to have participated in MIPIM and to see the atmosphere here and Turkey's prominence. The future is Turkey's. Thank you.