ArsaVev, one of Turkey’s real estate marketing firms, is garnering attention with its land sales. In his column today, Economy Newspaper columnist Sadi Özdemir covered statements made by ArsaVev’s Chairman of the Board, Bülent Öztürk.
Bülent Öztürk, Chairman of the Board at ArsaVev, highlighted, “In the last year alone, we have made $50 million in sales. Our goal for 2024 is $200 million in sales, and we have a ready land stock of 5 billion TL. We own land in 8 locations.” Öztürk mentioned their ventures outside Istanbul and ongoing projects, stating, “We are currently selling a highly profitable project in Foça.”
Öztürk also shared the story of ArsaVev, stating, “I founded ArsaVev in April 2023. According to our research, 80% of our citizens find land investments highly profitable but refrained from buying due to uncertainties in land conditions. We thought, ‘If we produce well-defined land with all uncertainties eliminated, we would sell exceptionally well.’ We sell fully licensed lands, and in the past year alone, we made $50 million in sales. Our goal for 2024 is $200 million in sales, and we have a 5 billion TL land stock ready. We currently have land in 8 locations, and 5 more locations are coming soon. We sell lands with full permits,” he emphasized.
Öztürk underscored that since the beginning of 2020, with the effects of the pandemic, wars, global high inflation, and earthquakes, people’s access to housing has become nearly impossible. In response to these challenges, he suggested, “Considering the lack of credit and the high interest rates, we need to first make citizens owners of ‘equivalent title deeds through floor area ratio’ at the land stage at the right price. Then they can make payments for the construction of the property. If a citizen has acquired a ‘floor area ratio title deed for two residences’ on a piece of land, they are exempt from making payments for construction. The floor area ratio title deed could be a solution for urban transformation, and we both agree on this point,” he added. Öztürk emphasized that the most significant obstacles to signatures in urban transformation are high demand and lack of trust, and any solution to eliminate these hurdles would accelerate urban transformation.
In addition to this news, other real estate developments include Sagist Group’s new $140 million project in Benghazi, featuring a hotel and 12 villas, and the signing of contracts for THY-Emlak Konut GYO Arnavutköy Dursunköy 3rd Stage 1st Part. There is also a noteworthy development in Yenişehir Evleri.
source: emlakkulisi.com / prepared by Melisa Beğiç