Turkey's REIT sector: An iceberg in Europe

Mete Varas, VP EuropeMarch 6, 2012MIPIM 2012, Cannes

Turkey's REIT sector: An iceberg in Europe

• Which country in Europe expects 45 new shopping centers only in 2012?

• Which country in Europe expects 120,000 hotel rooms on 1,000 new properties in the next 3 years?

• Which country in Europe expects to develop 70.000+ residential new units (branded projects) only in 2012?

• For the second consecutive year, Istanbul is ranked first for both investment and development by PWC/ULI Emerging Trends in Real Estate report

Turkey’s Exceptional Performance

Source: TurksatSource: IMF

Turkey’s Exceptional Performance

Source: Treasury Source: Treasury, IMF

Turkey’s Exceptional Performance

Source: Treasury Source: Treasury, IMF

Country Under ($ bn) Listed ($ bn) % Stk Mkt %

US 6,437 375 5.9% 14,362 2.7%

Japan 2,305 148 6.4% 3,652 4.1%

Germany 1,522 56.6 3.7% 1,362 4.2%

UK 1,063 56 5.2% 3,174 1.8%

France 1,186 73 6.2% 1,489 4.9%

Hong Kong 974 254 26.1% 2276.8 11.2%

Italy 956 1.7 0.2% 501 0.4%

Australia 514 99.9 19.4% 1304 7.7%

Turkey 219 7.5 3.4% 232 3.2%

Source: EPRA

REITs in Turkey

Source: EPRA

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Growth of the Turkish REIT Market

Real Estate in Turkey