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The announcement last week that Tepe Akfen Airports Holding (TAV) won the right to operate the Gazipasa Airport near Alanya for 25 years lead to a boom in the real estate and construction sector. Upcoming projects include residences, five star hotels and a golf course Last week’s announcement that Tepe Akfen Airports Holding (TAV) won the right to operate Gazipasa Airport near Alanya has started an investment boom in the region as foreign and Turkish investors alike are rushing to build tourism facilities, hotels, and residence complexes. One of the upcoming projects is a golf court near Gazipasa. Durmus Ozgen, owner of Trust United Co. Real Estate in Alanya area, told the Turkish Daily News that last week two UK and two Irish investors combined forces are invested 100 million euros in a golf course to be built close to Gazipasa. Gazipasa Airport opening in the near future will create a lot of enthusiasm among property developers in Alanya. The opening of the airport will undoubtedly change the whole character of Alanya and Gazipasa. Many people were waiting to see what would happen with the airport before investing in the region. Already now there are numerous plans to build, for example, residence complexes and five star hotels in Gazipasa where, at present, there is a relatively small variety of up market accommodation facilities. The price of property has notably increased in the just the first week after the announcement of the opening of Gazipasa Airport. “Since the announcement, we have seen a 20-25 per cent increase in real estate and land prices. For example, land plots in Gazipasa that cost YTL 100,000 a while ago, today are priced at YTL 120,000 and even YTL 150,000,” said Mustafa Toksoz, owner of Elite Construction in Alanya. “Within the next six months, property prices will experience an even more dramatic rise. This is very good for the market which, for a while, was experiencing a temporary slowdown.”
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