Spanish constructor tees up Didim for golf complex
ONE of the biggest construction companies in Europe is considering building a golf and holiday village in Altinkum, it has emerged.
Members of the FADESA group arrived in Didim last week and held top level talks with the Ministry of Tourism Ankara Director Şennur Aldemir and Culture and Expert Deputy Arzu Uçar.
They also held meetings with Mayor Mümin Kamacı and received information about the land available for touristic purposes in Didim held by the Ministry of Tourism. They apparently left satisfied with the answers and are considering firming up the ideas in the near future.
The Spanish company operates in the construction and real estate sectors in various countries around Europe, including Portugal, Hungary, Poland and France.
The company, which has undertaken great scale projects in Spain such as golf courses and holiday villages, has a paid in capital of above 11 million 200 thousand Euros.
The company said it had been to Çeşme, İzmir, prior to Didim but had liked Didim better than Çeşme. The administrators from FADESA completed their observations and left Didim last Thursday.
Mayor of Didim Mümin Kamacı stated that it was extremely important for the company to consider investing in Didim.
He said: “If these investments turn out, many things will change for Didim. The golf course and the holiday villages that FADESA is considering building are very important for us. I hope the result will be positive.”
The administrators from FADESA will return to their country following their contacts with the authorities of Ministry of Tourism in Ankara.
FADESA is one of Spain’s leading real estate groups. Founded in Corunna at the end of the 1970s, it originally specialized in the promotion of large-scale residential projects for the protected housing so much in demand at the time.
With a presence in practically all of Spain through its 20 branch offices and over 50 sales outlets, FADESA nowadays has a diversified product portfolio, including homes intended primarily for main residences as well as other real estate offerings for leisure use at the main tourist destinations in our country.
As a real estate company, FADESA manages large-scale urban development projects, characterized by a large number of homes located in residential settings of different types, leisure and shopping areas as well as spacious parks to turn these into "mini-cities", areas with great natural expansion or places with a strong attraction for residential tourism.
With respect to golf courses, apart from the courses at Guadalmina (Marbella), which is already operational, FADESA currently has 22 golf projects under way, of which 18 are under construction, 3 are fully operational, and as many again are at the project stage.
Turkey’s new golf boom
Turkey is about to give birth to a whole new golfing industry. The country, once a stranger to the game of golf, will in the next decade become one of the major golfing destinations, attracting both holidaymakers and UK golfers looking to make a new home there.
As part of its awakening to the economic benefits of increased tourism, and preparation towards hoped-for membership of the European Union, Turkey is rapidly embracing the ancient game at a phenomenal rate.
In May 2004, when the Turkish Golf Federation unveiled its ambitious new plans, there were just nine golf courses, - three at Istanbul, and the rest in the Antalya area, already a popular holiday destination for Britons. The federation has big golfing plans, however, and has set its sites on no fewer than 100 new golf courses in the next four years, turning Turkey into a real golfing hot spot.
So serious is Turkey about developing its golfing credentials that the Turkish Golf Federation has persuaded universities in Turkey to introduce courses for golf professionals and greenkeeping/agronomy in order to support the burgeoning sport and the first candidates have already graduated.
Water supplies have been identified for maintenance, and developers willing to build the courses have already been found, so it seems that the Turkish golfing revolution has truly arrived.
Investment in Turkey forecast to double next year
Foreign direct investment in Turkey is set to double in 2007 according to Charles Dallara, head of the Institute of International Finance, the global association of banks and financial institutions. Speaking at the annual meeting of the IMF and World Bank, Dallara cited sound government policies and reforms introduced to bring the Turkish economy into line for EU membership as the reasons for the country’s recent economic stability and growing investor confidence.
According to his predictions, investment from overseas would reach nearly $20 billion next year - more than double its 2005 level. Official figures show foreign investment totalled $9.2 billion in the first seven months of 2006, including nearly $2 billion invested in the country’s real estate sector.
Mortgages launched for Turkey
Spurred on by a growing number of enquiries from people looking to buy property in Turkey, UK-based overseas mortgage specialist Conti Financial Services have developed two mortgage products for Turkish purchases.
We’ve been monitoring the market in Turkey for some time now and we’re pleased to be able to offer buyers competitive mortgage deals secured on property there,” says Simon Conn, managing director of Conti Financial Services.
The new Euro and Sterling repayment mortgages have interest rates of 5.9% and 6.9% respectively, fixed for 1 year, with an additional 0.6% for buy-to-let properties. Loans have a maximum term of 20 years, with borrowing limited to 80% of the property’s value.
