NEWSROOM

During the 14th-anniversary celebration of Aremas, a company providing consultancy services in the real estate sector from A to Z, the Chairman of the Board, Vedat Arslan, stated, "We aim to continue our growth in 2024" and proposed the establishment of a special mortgage system for urban transformation in Istanbul.

TURKEY - Arenas Real Estate, celebrating its 14th anniversary with an event held at the Mandarin Oriental Bosphorus, met with its business partners and investors as part of its traditional New Year's gathering. Speaking at the event, Vedat Arslan, Chairman of the Board of Aremas Real Estate, evaluated the real estate sector in 2023, especially in the housing sector, and shared expectations and predictions for the sector and Aremas for 2024.

A special model for Istanbul

Vedat Arslan, addressing the recent developments in the real estate sector, mentioned that the sectoral activity from June 2020 to the end of 2022 saw an increase primarily focused on directing cash towards housing. He stated that a contraction became inevitable in early 2023 due to the earthquake and tightening policies. Emphasizing that 2024 could be a challenging year for the real estate sector, Vedat Arslan pointed out the importance of urban transformation, especially in an environment where project financing and mortgages are lacking and the market is contracting.

Vedat Arslan stated that Istanbul needs urban transformation and said, "To achieve this, it is impossible to secure the required financing only through equity or external financing. We believe that a special mortgage system for urban transformation should be established to spread the risk, and this system should be supported by structures such as real estate investment trusts and funds, pension funds, or portfolio management companies and reinforced by effective sales. For this, fully institutionalized organizations are needed."

It closed 2023 with growth

Arenas Real Estate Chairman of the Board, Vedat Arslan, explained that with their long-standing experience in real estate, they have been providing consultancy services from concept development to post-sales services. He stated that in 2024, they will continue to serve new domestic and international projects. He said, "Aremas, established 14 years ago to provide sales and marketing support for large-scale residential projects, has evolved by adding concept development, project development consultancy, and commercial sales and leasing functions to its business lines, becoming a brand that offers 360-degree consultancy services for real estate projects."

Vedat Arslan also mentioned that Aremas, which has provided services to projects with a total salable area of approximately 5 million square meters, has offices not only in Istanbul, Izmir, and Bodrum but also in Frankfurt and Dubai. He stated, "Despite all the challenges, we closed 2023 with growth. In real estate sales, we started serving international markets with our brands DPA Estate, specialising in aluminium facade systems and marble, Arcons Global, and Miva Invest, focusing on asset management."

Our Expectations Are High for 2024

Vedat Arslan mentioned that they actively promote real estate projects in Dubai and London through DPA Estate, which deals with foreign real estate sales. He also mentioned collaborations with D&B in Dubai and Savills in London. He stated that they plan to close in 2024 with growth.

Vedat Arslan also shared that in 2021, they established the "Aremas Girls' Education Support Scholarship Fund" in collaboration with the Turkish Education Foundation (TEV) to support girls receiving education outside their hometowns. He said, "We continue to support girls studying outside their hometowns. Last year, we increased the total number of scholarship students from 50 to 60. Our goal is to increase this number further every year.