Moscow International Property Show – post show roundup

Economists & writers will long argue about the causes & consequences of the economic crisis, but a real estate business has no such luxury as time for reflection.

An increasing number of events dedicated to the elite segment of real estate are proving the fact – the crisis has been overcome & a new era has been ushered in.

Positive changes in the market have already activated its most reliable sector – luxury property. Cumberland Properties participated in the XV International Property Show in Moscow, which is closing the season of presentations in real estate this year.

Keeping with tradition aiGroup invited exhibitors to the shopping centre “Tishinka” in the centre of the Russian capital, where 184 companies from 40 countries brought fresh designs for the demanding Russian client. Around 8,000 visitors, among which friends & partners of Cumberland Properties, were asking questions of real estate companies’ representatives & choosing the most suitable offers during the two show days.

As president of aiGroup Kim Waddoup remarked, “there is yet no better tool for investment than property, especially an overseas property”.
This year has significantly expanded the selection of geography. Five to six years ago Russians were buying real estate mainly in Europe – in Spain, France & the UK. Today there is hardly an island left where footprints of a Russian buyer won’t be found. Distances do not confuse Russians. However, their neighbours, Bulgaria, Finland, Montenegro & Turkey remain the favourites & are constantly strengthening their positions.

Surprisingly the economic crisis has had a beneficial impact on the overseas segment of real estate. In the context of inflation, the need to invest, or simply a desire to secure financial assets, it has prompted many Russians to refer to such a reliable instrument as property ownership abroad.

This was evidenced by a significant number of interested visitors, investors & potential buyers at the Moscow International Property Show this year.
Russians & representatives of other CIS countries are not only aware of what it is to invest in real estate, they also believe this sector to be the most profitable to invest in.

That’s why Cumberland Properties who have long specialised in the design, construction & provision of exquisite interiors to their exclusive properties in Turkey, decided to offer the market a few new projects at the Moscow International Property Show where Cumberland’s Woodland Regency development was the most admired of all.

While the name of Cumberland is becoming familiar to the sophisticated ear of the discerning Russian buyer our team continues to work on the next set of fabulous ideas.

Turkish top court bans pro-Kurdish party

Turkey’s Constitutional Court has voted to ban the country’s largest pro-Kurdish party because of alleged links with Kurdish separatist rebels.

Turkey’s chief prosecutor Abdurrahman Yalcinkaya argued that the Democratic Society Party (DTP) took orders from the Kurdistan Workers Party (PKK).

The DTP is the latest in a series of pro-Kurdish parties to have been closed down in Turkey.

The EU, which Turkey hopes to join, expressed concern over Friday’s ruling.

“While strongly denouncing violence and terrorism, the presidency recalls that the dissolution of political parties is an exceptional measure that should be used with utmost restraint,” the EU’s Swedish presidency said in a statement reported by Reuters.

The 11 judges in Turkey’s Constitutional Court ruled that the DTP had become a “focal point of activities against the indivisible unity of the state, the country and the nation”, court president Hasim Kilic told reporters.

He said DTP leaders Ahmet Turk and Aysel Tugluk had been stripped of parliamentary immunity and banned from politics for five years along with 35 other party members.

The treasury would seize all party assets, Mr Kilic added.

The DTP holds 21 seats in Turkey’s 550-member parliament.

Some 40,000 people have died since the outlawed PKK launched an armed campaign in the mainly Kurdish southeast in 1984.

The BBC’s Jonathan Head, in Istanbul, says the DTP’s ban is another blow to the government’s hopes of ending the conflict.

Prime Minister Recep Tayyip Erdogan has tried to push through a package of reforms aimed at winning over the alienated Kurdish community and persuading militants to lay down their weapons.

Reacting to the ban, DTP chairman Mr Turk said it would not help to end the 25-year conflict.

“Turkey cannot resolve this problem by closing down parties,” he said.

The court case has already caused unrest in Kurdish areas.

In the city of Hakkari - near the Iran and Iraq borders - Turkish police used water canon to break up a protest by Kurdish rebel supporters on Friday, Anatolia news agency reported.

Kurds make up about 20% of Turkey’s population of more than 70 million.

Turkey, the EU and the US list the PKK as a terrorist organisation.

For more information visit: www.bbc.co.uk / www.reuters.com

Turkey voted top country

Turkey has been chosen by Condé Nast Traveller readers as their favourite country in the destination category at the Condé Nast Traveller 12th Annual Readers’ Travel Awards for the first time.

 

Turkey’s popularity also ensures a spot in prestigious The World’s Top 100 list too where it was voted number 2 overall.

 

Istanbul, European Capital of Culture 2010 also scored highly; Istanbul was voted in the top 10 in the Overseas Cities category (5th place), with top marks for people / hospitality.

 

The city is also home to some of the readers’ favourite hotels as the Ciragan Palace Kempinski was voted in 6th place and The Four Seasons Hotel Istanbul at Sultanahmet, 13th place in the Category of Overseas Leisure Hotels.  The Ritz Carlton Istanbul also secured 8th spot in the Overseas Business Hotels category.

 

Director of the Turkish Culture and Tourism Office UK Irfan Onal expressed his delight at winning the award: “We are thrilled that Turkey has won this prestigious award, which is even more meaningful given that it is chosen by the readers themselves.  This is the highlight in what has been a very successful year as the Turkish Culture and Tourism Office UK.

Indeed, visitor numbers from the UK continue their spectacular rise, with year-on-year figures up 15.5% for the first 7 months of this year.”

 

Turkish Ambassador H.E Mr. Unal Cevikoz received the country award. Also attending the award was the Ambassador’s wife Mrs. Emel Cevikoz, Director of the Turkish Culture and Tourism Office, Mr. Irfan Onal and Deputy Director, Dr. Aysegul Gurgezoglu.

 

 

Source: www.ftnnews.com

Cameron ‘anger’ at slow pace of Turkish EU negotiations

David Cameron has promised to “fight” for Turkey’s membership of the European Union, saying he is “angry” at the slow pace of negotiations.

On his first visit as prime minister, he said the country could become a “great European power”, helping build links with the Middle East.

He compared hostility to the membership bid in some parts of the EU with the way the UK’s entry was once regarded.

Mr Cameron was expected to agree a new strategic partnership with Turkish Prime Minister Tayyip Erdogan during his visit.

‘Frustrating progress’

In a speech at the Turkish parliament in Ankara, Mr Cameron said he wanted to “pave the road” for Turkey to join the EU, saying the country was “vital for our economy, vital for our security & vital for our diplomacy”.

A European Union without Turkey at its heart was “not stronger but weaker… not more secure but less… not richer but poorer”.

Mr Cameron added: “I’m here to make the case for Turkey’s membership of the EU. & to fight for it.”

At a joint press conference with Turkish Prime Minister Recep Tayyip Erdogan, Mr Cameron suggested the UK would impose provisional restrictions - as with Bulgarians & Romanians after they joined - on the right of Turkish people to live & work in the UK after it joined the EU.

But the rapid rate of Turkey’s economic growth would make any restrictions unnecessary in decades to come, he added.

He said: “One of the effects here is that [as] economies grow & become more evolved, the pressure & flow [of people] between countries isn’t so great.”

Referring to former French President General Charles de Gaulle’s efforts to block British membership of the EU in the 1960s, Mr Cameron said in his speech: “We know what it’s like to be shut out of the club. But we also know that these things can change.

“When I think about what Turkey has done to defend Europe as a Nato ally, & what Turkey is doing today in Afghanistan, alongside our European allies, it makes me angry that your progress towards EU membership can be frustrated in the way it has been.

“My view is clear. I believe it is just wrong to say that Turkey can guard the camp but not be allowed to sit in the tent.

“So I will remain your strongest possible advocate for EU membership & greater influence at the top table of European diplomacy.”

Regional role

Mr Cameron said those who opposed EU membership were driven by protectionism, narrow nationalism or prejudice.

“Those who wilfully misunderstand Islam, they see no difference between real Islam & the distorted version of the extremists. They think the problem is Islam itself. And they think the values of Islam can just never be compatible with the values of other religions, societies or cultures.”

He said: “All of these arguments are just plain wrong. And as a new government in Britain, I want us to be at the forefront of an international effort to defeat them.”

While praising Turkey’s secular & democratic traditions, Mr Cameron stressed that Turkey must continue to push forward “aggressively” with economic & political reform to maintain momentum towards EU membership.

He said the country had a “unique influence” in helping to build a stable Afghanistan through political & economic co-operation & fostering understanding between Israel & the Arab world.

Source: BBC

2010 A Year Of ‘Hope’ Say Businessmen

As the global economy is showing signs of recovery from the worst economic crisis since the Great Depression, indications abound that 2010 will be a year when the recovery kicks in, especially in Turkey, where signs that a recovery is picking up pace revealed themselves towards the end of 2009.

The crisis hit fundamental economic indicators like production, exports, investments and unemployment, leading to massive stimulus packages taken by nations looking to protect themselves from economic free-fall.

The speed at which governments enacted such measures was unprecedented, and possibly saved the global economy from falling into a further global slump rivalling the turbulent times of the 1920s.

The upturn in economic conditions in Turkey in the last quarter of the year has left many wondering whether the worst is over, and whether 2010 will make up for the losses in 2009.

Although Turkey’s Medium-Term Economic Program (MTEP) released by the government predicted a return to growth in 2010, some in the business world are calling this overly optimistic, while others are saying that the government should aim even higher.

Regardless of the exact numbers, the Turkish business world, having seen the recent rays of hope in the economy, is hopeful about the coming year.

For more information visit: www.sabahenglish.com

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