American eye on Cevizlibağ
Güncelleme Tarihi:
Hürriyet
Oluşturulma Tarihi: Nisan 02, 2009 00:00
ISTANBUL - A business center with 400 offices in Cevizlibağ is to be erected by American real estate company Coldwell Banker, sitting on a 30,000 square meter lot, near a busy bus stop. They have invested $50 million in this project to be launched in two months
American real estate company Coldwell Banker now has an eye on the Cevizlibağ district after completing studio apartments in Beylikdüzü.
A four-block apartment project consisting of 320 flats will be wrapped up in May. Coldwell Banker’s Turkey CEO Gükhan Işık said they will push the button again in May for a business center with 400 offices in Cevizlibağ. The building to sit on a 30,000 square meter lot is near to the bus stop, said Işık, adding that they invested $50 million in this project to be launched in two months and be finished in 18 months.
The global economic crisis will not affect "the correct" projects, he said. "We researched the market and are serious about our business. Several business connections are being established in the Cevizlibağ region. Yet many companies are running business in small and inefficient offices. Metro, Metrobus and tramway stops are nearby. No one has considered investing in the area but we know that we will quickly sell the offices."
The company’s signature project titled "Studio Life" is in Beylikdüzü, its first housing project in Turkey. Ninety percent of the flats are 42 to 66 square meters and the rest is 86 to 92 square meters. Işık said over 300 of 320 flats were already sold; most were sold to investors. Thanks to overseas branches around the world, Coldwell Banker in this project sold about 100 flats to foreigners with British and Dutch citizens among the top buyers. They made a first with studio apartments project and others are following their footsteps.
"People are not only looking for a place to live but also buying a quality of life. There were those who underestimated us and said, ’These are like a henhouse.’ The size of a flat is not important. But the important thing is whether it is enough for you. I am living in a similar one and it is a good quality place. Our ’Studio Life’ project is in a five-star hotel category. Prices vary between 63,000 and 115,000 Turkish Liras." In addition to the office project in Cevizlibağ, Işık said they wanted to begin a new housing project in Istanbul’s Anatolian side. Coldwell Banker plans to build both studio and normal-size flats in this project. The company keeps looking for appropriate lots for construction but they prefer to have one in Pendik and Ataşehir. Işık said they have other lots in Maslak and Gaziosmanpaşa on the European side.
Coldwell Banker plans to offer 20 franchises in 2009, 15 of which will be in Istanbul and remaining five will be in cities with population over 1 million. "Potential buyers in Turkey are thinking how to eliminate real estate agents in a business deal. Agents who fail to offer descent consultancy services are to be blamed. If a potential customer is going after a few hundred liras in closing deals, then it means realtors are not offering good services. We will use our international experience in our franchises. For instance, our Ümraniye office will be able to sell a house in Canada. Since we are the project builder at the same time, the duty and advantage of the franchiser will be to rent or to sell in similar projects."
Founded in United States and having worldwide investments, Coldwell Banker is a 103-year-old company with about 4,000 branches and 130,000 real estate agents in 35 countries. The company is an affiliate of the Cendat Group, which owns 10 hotels chain including Ramada, Days Inn and Wyndham in addition to travel agencies and car rentals such as AVIS and Budget. Coldwell Banker’s turnover in 2008 is announced as about $450 million. They also plan to have a university in Turkey, similar to the Coldwell Banker University in the United States established for education and training of new comers in the sector.
A four-block apartment project consisting of 320 flats will be wrapped up in May. Coldwell Banker’s Turkey CEO Gükhan Işık said they will push the button again in May for a business center with 400 offices in Cevizlibağ. The building to sit on a 30,000 square meter lot is near to the bus stop, said Işık, adding that they invested $50 million in this project to be launched in two months and be finished in 18 months.
The global economic crisis will not affect "the correct" projects, he said. "We researched the market and are serious about our business. Several business connections are being established in the Cevizlibağ region. Yet many companies are running business in small and inefficient offices. Metro, Metrobus and tramway stops are nearby. No one has considered investing in the area but we know that we will quickly sell the offices."
The company’s signature project titled "Studio Life" is in Beylikdüzü, its first housing project in Turkey. Ninety percent of the flats are 42 to 66 square meters and the rest is 86 to 92 square meters. Işık said over 300 of 320 flats were already sold; most were sold to investors. Thanks to overseas branches around the world, Coldwell Banker in this project sold about 100 flats to foreigners with British and Dutch citizens among the top buyers. They made a first with studio apartments project and others are following their footsteps.
"People are not only looking for a place to live but also buying a quality of life. There were those who underestimated us and said, ’These are like a henhouse.’ The size of a flat is not important. But the important thing is whether it is enough for you. I am living in a similar one and it is a good quality place. Our ’Studio Life’ project is in a five-star hotel category. Prices vary between 63,000 and 115,000 Turkish Liras." In addition to the office project in Cevizlibağ, Işık said they wanted to begin a new housing project in Istanbul’s Anatolian side. Coldwell Banker plans to build both studio and normal-size flats in this project. The company keeps looking for appropriate lots for construction but they prefer to have one in Pendik and Ataşehir. Işık said they have other lots in Maslak and Gaziosmanpaşa on the European side.
Coldwell Banker plans to offer 20 franchises in 2009, 15 of which will be in Istanbul and remaining five will be in cities with population over 1 million. "Potential buyers in Turkey are thinking how to eliminate real estate agents in a business deal. Agents who fail to offer descent consultancy services are to be blamed. If a potential customer is going after a few hundred liras in closing deals, then it means realtors are not offering good services. We will use our international experience in our franchises. For instance, our Ümraniye office will be able to sell a house in Canada. Since we are the project builder at the same time, the duty and advantage of the franchiser will be to rent or to sell in similar projects."
Founded in United States and having worldwide investments, Coldwell Banker is a 103-year-old company with about 4,000 branches and 130,000 real estate agents in 35 countries. The company is an affiliate of the Cendat Group, which owns 10 hotels chain including Ramada, Days Inn and Wyndham in addition to travel agencies and car rentals such as AVIS and Budget. Coldwell Banker’s turnover in 2008 is announced as about $450 million. They also plan to have a university in Turkey, similar to the Coldwell Banker University in the United States established for education and training of new comers in the sector.