SUR YAPI declared 2017 the productivity year. The company’s profit was 650 million TRY in 2016 and it aims to have a profit of 1,1 billion TRY. The company will start 8 new projects in Topkapi, Kagithane, Bahcekent, Sancaktepe, Kosuyolu and Maltepe. The total investment value is 2,7 billion TRY and in total the 8 projects have 2.558 houses and 148 commercial area. With the projects of 2016 which continue its sales and new 2017 projects combined, Sur Yapi will be controlling a 3,6 billion TRY portfolio.
The company looks for opportunity of new investments in Anatolia, to make investments in the cities other than Istanbul and Izmir. The projects in Izmir als speeds up with the new year.
No Slowing Down
Sur Yapi Chairman of the Executive Board Altan Elmas said that they would continue with their investments non-stop. They plan to bring 2,7 billion TRY of profit to the Turkish economy in 2017 with 2706 new houses and commercial areas. The company will deliver the keys to the owners of 860 million dollar investment with the deliveres of Ilkbahar Project in Sultanbeyli and Mirage Residences in Gunesli.
The Sector Will Grow
Altan Elmas announced that with the bureaucratic obstacles out of the way, investments in the real estate sector will increase. He said in order to ensure the continuation and increase of investments the old view of bureaucracy needs to change because it is time consuming for investors. He also mentioned that they are expecting a decrease in VAT rates.