JNR Fair Arrangement, which arranged a fair in Istanbul last year similar to that of Russia on luxury consumption, will now promote in Turkey the most luxury houses of the world and Turkey. In the fair, some worldwide famous projects in the USA like the special villas in New York, Miami, Las Vegas, British Virgin Islands, Dubai and Switzerland will be on sale. In A Plus Real Estate and Finance Services Fair to be held between 3-4 May in Hilton Convention Exhibition Center, finance houses will also be present for those willing to buy these houses along with residences worth millions of dollars.  One of the most significant supporters of A Plus Real Estate Fair, which was realized last year for the first time, is Yaşar Aşçıoğlu, the Chairman of Board of Directors of Aşçıoğlu İnşaat company and Istanbul Association of Constructors. Zeynep Özal, the daughter of Turgut Özal, the 8^th President of the Republic, who presided the Executive Board of JNR Fair along with Saadet Ada, told that they became a significant milestone in the sector with the organizations they held, and said "Real estate shall lead the country economy again with its 15-20 percent growth estimated for year 2008.

Foreigners Step In
Zeynep Özal reminded that they were in no big expectation with regard to sector development in the last year and said: "We passed through a risky period where the general elections and the election of the Republic President occurred into the ’mortgage crisis in the USA. Ending of the crisis which gradually shows a downward trend, economic data in March-April period would play a role in determination of the demand for the sector". Zeynep Özal also added that approximately 30.000 people will be settled in their new houses with 9.000 projects completed until the end of this year, and said "Land is as good as gold now in Turkey because the foreign companies entered the sector for investment purposes. It is estimated that the interest rates will show a slight decrease in the prospective months, which will entail refreshment of the sector. Anyhow, this is why not only the real estate companies but also banks and finance houses attend the fair."

Source: Hürriyet Newspaper