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Investment Opportunities for Pakistani Investors in Turkish Real Estate

Islamabad: Mirza Abdul Rehman, Acting President, FPCCI, welcomed a team of Turkish Real Estate including Mr. Ahmad Yousuf, Mr. Yetkin Avbavcu and Mr. Ramazan Goshkin visited the Federation of Pakistan Chambers of Commerce and Industry on 12th April 2012.

In his welcome address Mirza Abdul Rehman said that Pakistan and Turkey enjoys cordial relations. He also briefed the visitors about FPCCI and said that The Federation of Pakistan Chambers of Commerce and Industry is the apex trade body in Pakistan.

It is an autonomous, non-profit making organization formed to promote the interests of Pakistan’s Commercial and Industrial communities and has nationwide coverage. He also showed his optimism on the visit of Turkish Real Estate Team. He informed that under FPCCI, Pakistan- Turkey Business Council is proactive and willing to promote bilateral trade and economic cooperation.

Mr. Ahmad Yousuf, member of the Turkish team delivered a presentation on investment opportunities for Pakistani Investors in Turkish real estate. He told that Turkey is an emerging market and one of the world’s newly industrialised countries. It has the world’s 15th largest GDP. With GDP growth in 2010 of 7%, Turkey is one of the fastest growing economies in the world, second only to China Turkey had a rapidly growing private sector, the state plays a major role in industry, banking, transport, and communications.

He also informed that residents and visitors with hard currency enjoy a high purchasing power, with the cost of living far below European levels. He also informed about legal and purchase process. He also told that to buy property the buyer must obtain Military clearance. Pakistanis can apply for mortgages from several Turkish banks; Mortgages are usually given for 10 years or in special circumstances for 20 years.

The current interest rate is 6.8%. Easy for Pakistanis to get visit visas to Turkey and residents visas for those who own property. Return on your investment is much higher in Turkey compared to other European countries. The increased popularity of Turkey as a tourist destination means that you can anticipate substantial rental income.

Mr. Amjad Rafi, Chairman, Pakistan-Turkey Business Council of FPCCI also spoke on the occasion and highlighted the activities of the Business Council. Mrs. Fisun Aktug, Commercial Attaché of Turkey in Karachi also attended the meeting. The prominent members of the Business Community also participated the meeting including Mr. S.M. Munir, President IPCCI, Mrs. Salma Begum, Vice President, FPCCI, Mr. Nasir-Uddin Sheikh etc.

The meeting was concluded with a round of Questions and Answers by the participants from various builders and developers organization.

For more information, contact:
Malik Sohail Hussain
Chairman FPCCI Standing
Committee on Media and PR
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Tel: +9251 2251 891-3
Fax: +9251 2251 894
Cell: +92333 5155300; +92321 5155500
Email: malick.sohail@yahoo.com

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