Since Turkish construction and real estate sector is booming for the last ten years, legal consulting to construction projects has been one of our strong-suits among ADMD’s practices. Our members are experienced in handling multifaceted transactions, involving billions of dollars of construction for numerous projects containing complex phasing.
We provide support to our clients on all legal aspects of a construction project, from the initial drafting of the contracts, to post-construction deals and dispute resolution. Our lawyers can assist for drafting contracts for planning, design, engineering, program, project and construction management and we provide services for preparation of bidding documents, sales and leasing procedures and any and all related subjects in relation with constructions including zoning, financing and securitization details.
As Turkey progresses along the road to EU membership, essential legislative reforms have been introduced to make investments in real estate market easier and more profitable. We assist our clients for real estate due diligence as well, and we offer efficient service packages for foreign investors interested in Turkish real estate market.
In addition to traditional real estate leasing services, we are experienced in providing consolidated support for commercial real estate projects and building managements. Accordingly, we assist numerous projects where our members deal with all lease and rent related issues for the purposes of execution, maintenance, collection and eviction.
Some regulations related to the transition of Foreigners in Turkish citizenship has changed. According to the decision published in the Official Gazette of the Republic of Turkey intended to qualify for citizenship fixed capital amount was reduced to $ 2 million 500 thousand dollars. The minimum amount required for the transition to citizenship of immovable property to foreigners in Turkey have also withdrew 250 thousand US dollars to 1 million dollars. Representatives of the construction sector expressed their satisfaction with the decision and stated that the economy would revive.
Foreign investors and fund we know they want to have housing in different regions of Turkey. In particular, Qatar, the United Arab Emirates, Saudi Arabia and the countries engaged in the purchase of real estate from all over the world, only countries like Kuwait, not Turkey. In addition to our historical ties and geographical proximity, our country’s geopolitical location makes us attractive to these countries. In order to attract these countries to invest, it is necessary to implement a number of facilities. We consider 500 thousand dollars and real estate owners from the $ 1 million minimum real estate prices needed to pass the naturalization of foreigners 250 thousand dollars downloading in this sense is a very important step in Turkey from the fixed capital amount envisaged to qualify for Turkish citizenship $ 2 million. After that, we think that we will see more foreign investors in our country.
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