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Investment in commercial offices in Turkey 2022

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Turkey is one of the world's most developed countries, with the world's 20th largest economy in terms of gross domestic product. Since 2016, Turkey has also been the Islamic world's second-largest economy, behind Indonesia. The Turkish economy grew at a pace of 7.2% in the first quarter of this year, and it is expected to grow at the fastest rate declared since 1999 in the second quarter. Not to mention the advantages of its managerial placement as a connection between Europe, the Middle East, and Asia, in addition to the beauty of Anatolia's attractive nature, as well as the charm of living in Turkey, which many people throughout the world choose. All of these factors combine to make Turkey a desirable location for investors and company owners from across the world looking to build their operations, and as a result, demand for investment in Turkey has increased, particularly in the commercial offices sector required to conduct these firms' operations.

 

 Advantages of investing in commercial offices in Turkey:

  • When opposed to residential real estate, investing in business real estate, such as commercial offices, entails less risk. This form of property, also, gives a high monthly investment return, as well as long-term and guaranteed rent.
  • The contract duration in such real estate is frequently long, ranging from 5 to 10 years, but in residential real estate, the contract term is usually only one year.
  • Another benefit of commercial real estate, such as commercial offices, is that the owner is not responsible for all expenditures, including taxes, renovations, painting, and maintenance.

Types of commercial offices available for investment in Turkey:

The Building Owners and Managers Association (BOMA) divides office buildings into three categories:

Category A: Commercial offices of excellent grade fall under this category. High ceilings, opulent lobbies, high-quality managerial capability, and comprehensive facilities like a fitness center in the office or loft are also common features. The majority of these office buildings are in attractive metropolitan neighborhoods that are well-served in terms of transit, parking, and building security. The buildings of these offices are less than ten years old, have higher rental rates than the local norm, and are frequently hired by global corporations.

Category B: This category comprises medium-quality office buildings, and while they do not have as many service facilities as Category A, they nevertheless provide enough services to handle most firms and are the most in-demand. These office buildings are often located in the suburbs and are older than category A structures. These offices are rented at the area's typical rental rate. The buildings that house these offices, however, are not more than 15 years old.

Category C: In terms of infrastructure, this category of workplace has the lowest grade and quality. These structures are typically 20 years old. The majority of category C buildings are in unsuitable locations and may require considerable repair or remodeling.

The most prominent office areas in Turkey 2021:

Many people from all over the globe desire to buy a property in Turkey, and many multinational firms choose Turkey as a safe place to do business, thus offices are an important part of their operations in Turkey. Istanbul, which has over a hundred areas with offices for sale and rent, Ankara, which has 12 office zones, Izmir, which has 3 office areas, and Gaziantep, which has 3 office areas, in addition to Adana, Mersin, Denizli, Konya, Bursa, Kocaeli, and Kayseri, which each have one office area, are some of the most prominent Turkish cities, with some of the most well-known and vital business areas in the country. We will explore some of these areas in greater depth in each city.

First: The most prominent areas for offices in Istanbul:

1- Office areas on the European side of Istanbul:

Many areas on the European side are more significant than regions on the Asian side in terms of commercial unit investment, such as offices and shops, and this is due to the intensive market activity and high demand for leasing, which results in high rental returns. The following are the most important of these areas:

  • The Levent-Maslak line: MİA, or the central business square, is the most sought-after location for big international and Turkish corporations.
  • Şişli - Besiktas: It is regarded as one of the most desired areas due to its location in the city center.
  • Kağıthane - Seyrantepe line: This region accounts for roughly 5% of the office stock on the European side.
  • Basin Express line: Because of its closeness to the World Trade Center and essential vital routes in Istanbul, such as the E5 road and the TEM road, it has become one of Istanbul's most energetic and appealing areas for entrepreneurs, businesses, and investors. The area is also known for its affordable rental rates.
  • On the European side, we also highlight Zeytinburnu, Bakırköy, Koçekmece, Avcilar, Beylikdüzü, Esenyurt, and Başakşehir, which are in high demand for investors for offices and shops.

2- Office areas on the Asian side of Istanbul:

  • Umraniye area: This district became the greatest center of attraction for investors and important enterprises after housing the Istanbul Financial Center.
  • Ataşehir area: The area is defined by its placement on Istanbul's major thoroughfares, such as the E5 highway and the TEM highway, which serve as the city's main transportation artery. The Istanbul Financial Center also added high value to the area in terms of office and retail investment.
  • Kadıköy area: It is a major location for commercial offices and is one of Istanbul's most costly areas in terms of workspace value and one of the best in terms of construction.
  • Kartal region: It has lower pricing than other locations, thus some businesses prefer to locate their headquarters there. It is predicted to experience a significant increase in economic activity.

Second: The most prominent areas for offices in Antalya:

In general, offices in Antalya are located in three main areas in the city center: Muratpaşa, Kepez, and Konyaalti.

Areas outside the city center:

When it comes to the importance of commercial real estate in the Antalya region, the Alanya area comes out on top due to the significant commercial and tourist activity it experiences in comparison to other places, particularly in the city center, where the majority of shops and offices are situated. In addition to Mahmutlar, which has risen to become Alanya's second most significant hub in terms of commercial real estate investment in recent years. Besides, Kemer and Manavgat are two more areas where investors are showing an interest in investing.

Third: The most important areas for offices in Ankara:

Choosing to work in one of Ankara's business centers means putting yourself at the core of Turkey's political and economic life, as it is the capital, in addition to being the second-largest city in Turkey after Istanbul. With a population of over five million people, Ankara has seen a substantial improvement in social life and commercial growth.

As a center for significant financial, banking, insurance, and advisory firms, Turkey's capital offers you extra benefits. In terms of the economy and transportation, Ankara is also the country's hub.

The number of industrial enterprises in Ankara exceeds 50 thousand, while the total number of registered firms reaches 3 thousand. Because of the high demand, the municipality provides new investors and start-ups with preferential conditions and flexible tax arrangements.

 

Ankara's most prominent office areas include:

1- Kızılay Square :

It is located in the new city center, which provides a variety of alternatives to fulfill the needs of every tenant.

2- Söğütözü:

It is regarded as Ankara's commercial district, with a plethora of contemporary corporate facilities and glass towers. The transportation infrastructure of the Söğütözü district is superb, and the best-serviced offices in Ankara are located there where you can find the best offices equipped with a variety of contemporary and pleasant amenities. Ankara Esenboga Airport is a 20-minute drive away, and the city's excellent transit network makes it simple to go around by bus or metro to any part of the city.

 

Fourth: The most important areas for offices in Izmir:

Izmir, one of Turkey's most renowned cities, is moving away from being mainly a tourist destination to make a significant progress in trade thanks to the common spaces of work it gives to its employees through shared offices, which are low-cost but high-quality in terms of furniture and other fittings.

The first instances of contemporary office development in Izmir occurred in 2001. The development of new office buildings, particularly in the "Bayraklı District," began to mobilize Izmir's A-class office market, which had been relatively limited until 2008. In 2001, Izmir had a total supply of 15,800 square meters of A-class offices; by the first half of 2011, that number had climbed to 85,100 square meters. However, Salhane -Turan provides roughly 80% of the first-class office stock in Izmir, with an area of 67,800 square meters.

 

Izmir's most prominent office areas include:

1- Mistral Office Tower in Konak-Izmir (Mistral Ofis Kulesi):

It is a skyscraper in the city of Izmir, Turkey. This tower's construction was finished in 2017. The 216-meter-tall, 48-story building is located in Izmir's Konak district, and it is the city's highest structure as well as Turkey's largest skyscraper, excepting Istanbul's skyscrapers. Mistral Residential Tower is part of the Mistral Izmir complex, which also includes Mistral Office Tower.

2- Folkart Towers in Bayraklı-Izmir:

They are twin buildings that are the fifth and second highest in Europe and Turkey, respectively. The two towers are 200 meters high and contain 45 floors each, totaling 150,000 square meters of closed built-up area. Furthermore, many elegant offices of excellent quality and equipment are installed in the two towers.

Fifth: The most important office areas in Mersin:

According to 2020 statistics, Mersin is the country's eleventh most populated province, with 1868,757 residents. Mersin is a Turkish seaside city in the Mediterranean area, and its seaport is one of Turkey's biggest ports. It is particularly active in the sectors of tourism, industry, and marine transportation.

Mersin's most prominent office areas include:

Global Business Center in Mersin (Global İş Merkezi):

It's in Mersin's Yenişehir suburb, about 425 meters from the bus station and 2327 meters from the city center. It has been in operation since 1928 and mixes business dynamics with civic serenity. It provides various workplaces for businesses of all sizes by providing serviced offices, virtual offices, and shared office services.

Sixth: The most important office areas in Konya:

Konya is the biggest province in Turkey by land and the sixth most populous city by population. It is one of Turkey's most economically developed cities, with a significant effect on the country's commercial operations.

Konya's most prominent office areas include:

Kule Plaza Konya Tower in Selçuklu:

One of Konya's most innovative and cutting-edge shopping and leisure destinations. This tower, Konya's highest building, is situated in the Selçuklu district, which has banks, cafes, and retail streets. The T26 tram stop is only 1 minute away, Kent Plaza is 10 minutes away, and Konya Airport is 15 minutes away from this tower.

Seventh: The most important office areas in Denizli

Denizli is among Turkey's most advanced provinces in terms of industry, trade, agriculture, tourism, education, culture, and art. According to the 2020 statistics, the county has a population of 1,046,698 people. It is situated southwest of the Anatolian Peninsula and southeast of the Aegean Sea, forming a crossroads between the Aegean and Mediterranean Seas.

Denizli's most prominent office areas include:

Durmuş Çoban Business Center (Durmuş Çoban İş Merkezi):

It's a fantastic new business hub in the heart of the city. It has fully equipped offices and meeting rooms with furniture, telephone, internet, fax, television, projectors, etc.…  In addition to a huge waiting room and a lounge with a balcony.

The bus and rail terminals are only a 5-minute walk away, and the airport is a 45-minute cab ride.

Eighth: The most important office areas in Adana:

It is Turkey's sixth biggest urban region and one of the country's most important agricultural, economic, and cultural hubs. It is also Turkey's fourth mineral-rich area.

Adana's most prominent office areas include:

Ataturk Street (Ataturk Caddesi):

This street is polished and practical for your company. It has won awards for hosting significant banking, financial, and insurance firms. It is home to many businesses and facilities, ranging from restaurants to retailers, all of which are located around. It is also of excellent quality, whether in terms of internet access, parking, or views of the city center. The most significant feature is that the metro station is only 672 meters away

 

Sources: matchoffice + emlakdanismanlari
Editing: damasturk

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