turkey's reit sector: an iceberg in europe- mete varas, reidin.com
DESCRIPTION
Mete Veras, Head of Business DEvelopment REIDIN.com, explores the Turkish REITS sector strengths and weaknesses.TRANSCRIPT
Turkey's REIT sector: An iceberg in Europe
Mete Varas, VP EuropeMarch 6, 2012MIPIM 2012, Cannes
Turkey's REIT sector: An iceberg in Europe
• Which country in Europe expects 45 new shopping centers only in 2012?
• Which country in Europe expects 120,000 hotel rooms on 1,000 new properties in the next 3 years?
• Which country in Europe expects to develop 70.000+ residential new units (branded projects) only in 2012?
• For the second consecutive year, Istanbul is ranked first for both investment and development by PWC/ULI Emerging Trends in Real Estate report
Turkey’s Exceptional Performance
Source: TurksatSource: IMF
Turkey’s Exceptional Performance
Source: Treasury Source: Treasury, IMF
Turkey’s Exceptional Performance
Source: Treasury Source: Treasury, IMF
Country Under ($ bn) Listed ($ bn) % Stk Mkt %
US 6,437 375 5.9% 14,362 2.7%
Japan 2,305 148 6.4% 3,652 4.1%
Germany 1,522 56.6 3.7% 1,362 4.2%
UK 1,063 56 5.2% 3,174 1.8%
France 1,186 73 6.2% 1,489 4.9%
Hong Kong 974 254 26.1% 2276.8 11.2%
Italy 956 1.7 0.2% 501 0.4%
Australia 514 99.9 19.4% 1304 7.7%
Turkey 219 7.5 3.4% 232 3.2%
Source: EPRA
REITs in Turkey
Source: EPRA
7
Growth of the Turkish REIT Market
Real Estate in Turkey