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COVID-19 Possible Effects on Turkey’s Real Estate Market

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The Covid-19 outbreak has delivered a sharp economic and financial shock to EMEA and global markets.  Firstly, the closure of half of China’s factories and production has had an evident impact on global supply chains, and especially on the economies of China and other Asian countries, that will continue through 2020. Activity along some of China’s transport routes fell by 20-40%. China’s imports are expected to suffer a year on year decline of 12% in the 1st quarter while world trade is expected to decline 7% in the 2nd quarter. This would leave world growth at around 2% in 2020, the slowest rate in a decade; growth will slide considerably compared to the 3.5% recorded in 2019. The recent spat over oil prices between OPEC and Russia has served further to exacerbate the sense of panic. However, the currently much lower petrol price could help production to recover in Asia.


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COVID-19 Possible Effects on Turkey’s Real Estate Market

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Kerim Cin

Managing Partner | Turkey

Istanbul

I have been managing Colliers International in Turkey for the past 15 years, in the capacity of Managing Partner. 

My main emphasis during this period; along with the general management of the company, was directing the agency and brokerage services for commercial real estate, helping clients in projects totalling to over a million square meters of leased and sold space. 

Prior to the role of Managing Partner, I have been directing the real estate valuation & advisory services, between 2000 and 2004, creating a reference portfolio of over 30 million square meters valued or analyzed, including offices, retail, residential, hotels, and mix-use projects.

I am also one of the founders of Colliers International in Turkey. 

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Ahmet Ozgur MRICS

Director | Head of Valuation and Advisory Services

Istanbul

Ahmet is a Head of Valuation&Advisory Services Department of Colliers International Turkey.

He joined Colliers International Turkey in 2005 and is responsible for managing the project team concentrated on preparing comprehensive valuation, financial feasibility and highest and best use analysis reports.  He also manages the daily operations, client relationships and supervises the team.

Throughout his career, he has been involved in numerous valuation and consulting activities including portfolio and single asset valuations, highest and best use analysis, feasibility studies, market analysis and discounted cash flow analysis. His areas of specialty include Office, Retail, Hospitality, Industrial and Residential projects.

He is a certified Capital Markets Boards of Turkey appraiser and a member of the Royal Institution of Chartered Surveyors (RICS). 

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Celil Yuce

Junior Consultant

Istanbul

Celil is a Junior Consultant  in Valuation&Advisory Services department of Colliers International Turkey. 

He joined Colliers International Turkey in 2015 . Celil has conducted valuation, financial feasibility, highest and best use and market research studies in every asset class in various locations.​ 


 

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