bY DailySabah News
In Turkey, where 6.1 billion square meters of real estate valued at TL 2.7 trillion ($510 million) was supplied to the market in 2017 alone, the work for the establishment of the Real Estate Stock Exchange is in progress.
To this end, the Real Estate Stock Exchange (GABORAS) was established in collaboration with the Turkish Independent Industrialists and Businessmen’s Association (MÜSİAD) and Yıldız Technical University. GABORAS Vice Chairman İshak Kurtuluş Altun stated that their initial objective is to establish a secure trading platform in real estate and that they would like to offer major projects such as public gardens and Kanal Istanbul to the public and to carry out index studies of cities, according to a report by Turkish daily Dünya.
“It is necessary to talk about new arguments in real estate that incorporate a housing stock of about 800,000 units. In this sense, the real estate stock exchange concept initiated in 2014 may be realized,” Altun said. “Because real estate is a product that can be exported. MÜSİAD is a nongovernmental organization operating in 80 countries. We are trying to export real estate and its assets using this network for export purposes.
