The commercial real estate market in Turkey entered a significant transformation process in 2024. While changes in business practices and demand for commercial space in the post-pandemic period have reshaped the dynamics of the sector, projects with strong technological infrastructures suitable for flexible working arrangements in offices and commercial areas have recently come to the fore. Investors have become more conscious of sustainability and energy efficiency in recent years.
ADVANTAGE FOR THE INVESTOR
According to the Central Bank of the Republic of Turkey data, a 12.0 percent increase was recorded in the Commercial Real Estate Price Index in the first quarter of this year compared to the previous quarter. This situation has become an advantage especially for commercial real estate investors. In addition, demand for office and retail spaces has increased in major cities. This increase is also considered an indicator of the recovery process of the economy after the pandemic. Changes in business practices and demand for commercial space in the post-pandemic period are reshaping industry dynamics.
CONCEPT OF SUSTAINABLE ENVIRONMENTALISM
Emphasizing that projects with strong technological infrastructure and suitable for flexible working arrangements in offices and commercial areas have recently come to the fore, Bilgiçler Yapı Board Member Ali Emre Bilgiç said: “Today, in commercial real estate, not only aesthetics and functionality but also environmental sustainability come to the fore.” he spoke.
Bilgiç added that a design line has been determined in order to avoid the chaos experienced in high-rise plazas in the new period, and said, “Now, the advanced solutions we offer in areas such as energy management, security systems and communication infrastructure are drawing attention. Artificial intelligence-supported systems make the lives of users easier by increasing the operational efficiency of buildings. While the housing sector is experiencing a contraction, commercial real estate investments continue to attract attention with the attractive opportunities they offer to investors. “Especially the projects located in the areas that stand out as new business centers of Istanbul are on the radar of investors,” he said.
Türkiye WILL MAKE A DIFFERENCE
Bilgiç said, “We will continue to contribute to Turkey’s economic growth through our collaborations with both domestic and foreign investors.” He added, “We closely follow innovations and developments in the Turkish commercial real estate sector and shape our projects accordingly. We will continue to make a difference in the sector with our innovative, sustainable and digitally transforming projects.”
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