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| Project Development |
Having carefully observed and analyzed developments in the sector, Fiba Real Estate undertook its first investment in 2005. The hundreds of projects that the company had studied during the years after it was founded had provided it with considerable experience to identify the best one to invest in.
With tremendous knowledge and experience in such matters as site selection, population growth patterns, market analysis, feasibility, zoning regulations, and real estate law, Fiba Real Estate gives the utmost importance to professional training and development in order to achieve the highest international standards in all its project development processes.
Having made its first venture in the sector in housing, Fiba Real Estate submitted bids in major property auctions in which national and international investors vied with one another for projects in other segments such as shopping centers, office buildings, and mixed-use applications and in this way it demonstrated its interest in other aspects of real estate development while also proving that it intended to be one of the sector's biggest players.
Keeping a close watch on market dynamics, supply & demand, areas of new development, and centers of attraction, the company undertook a land investment outside Istanbul province in Izmir-Mavisehir in 2006.
The "Cubuklu Vadi" investment that was begun the same year by Fiba Yuksel International, a joint venture with construction company Yuksel Construction Co. was a tremendous success thanks to the synergies created by a combination of the right project and the right partners. Targeted at upper-income groups, Cubuklu Vadi is a foretaste of the sort of projects that Fiba Real Estate will be developing for different market segments.
Keeping its eye on newly developing areas, Fiba Real Estate invested in a total of 72 hectares of land in both Istanbul and the Aegean region during 2006.
Among Fiba Real Estate's project development objectives in 2009 and thereafter are to complete the project concept work involved in its existing landholdings and turn them into investments and to continue its research and development activities as it looks into new projects. Within the framework of its global vision, Fiba Real Estate is open to joint ventures on both the design and the concept fronts as it pursues its goal of undertaking value-creating world-class projects on a global scale.
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