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Ali Agaoglu: â€˜Azerbaijan will soon become one of the region’s recreation centersâ€™ - INTERVIEW

Ali Agaoglu: â€˜Azerbaijan will soon become one of the region’s recreation centersâ€™ - <font color=red>INTERVIEW </font>

11 July 2012 15:33 (UTC +04:00)

His Agaoglu Group is engaged in realization of huge construction projects in Turkey since 1990. Up to this day, the company has realized construction projects such as Â«My WorldÂ», Â«My OfficeÂ», Â«My TowerlandÂ». At the moment, Agaoglu Groupâ€™s activity covers construction and resort areas. According to research carried out by popular "Forbes" magazine in 2011, Ali Agaoglu â€“ is the 564th rich and influential person in the world with 2.1 billion capital and 10th in Turkey. During his visit to Baku A.Agaoglu gave an interview to APA.

- Ali bay, have you acquainted with Khazar Islands project?

- Yes, I have acquainted with the project, it incredibly influenced on me. It is a world-scaled project. I have got acquainted with the construction works, seen the work procedure. It is a very successful and grandiose project both from technical and architectural viewpoint.

- Will you join this project?

- I think about it. We have talked over it and acquainted with the situation, accepted proposals of Ibrahim bay. Of course, we can not make decision on this issue within one day or an hour. We are considering all proposals. I have brought technical delegation with me and we will estimate all proposals between ourselves, discuss and find common points.

- You are one of the biggest investor of Turkey. How do you estimate investment atmosphere in Azerbaijan? In general, are not you interested in capital investment here?

- It is my first visit to Azerbaijan, but I have interested in your country for a long time. Within the last 7-8 years Azerbaijan got the highest growth figure in the world for national income per capita. It is possible to see the develoipment in Baku, changes and modenr city style. Great projects are being realzied here. I believe that in near future Baku will be world-class city. Azerbaijan has conditons for investment. But, I, first of all, is interested in Khazar Islands and if we have common points, I will certainly join this project.

- According to assessment of Forbes, you are the richest person of Turkey. At present, in time of the crisis in Europe, what are trying to do â€“ increase capital or preserve the existing?

- Of course, I am increasing my capital. We have not a standstill, as our pM Erdogan says â€“ we have to go on our way. If we stop, everything can finish, that is why, we continue investments. Only this year we have started construction of nearly 10,000 buildings in istanbul.

- So, is this means that the crisis came to an end?

- Turkey is country which has great potential and fast economic development. That is why it is possible to establish work everywhere on the basis of right planning. But you must rouse interest of a client, meet his/her demands. Construction sector is a locomotive of economy in Turkey. It has significant role in economic growth, therefore, the state of construction sector is the most important indicator of economy.

- Purchase of property by foreigners has been facilitated in Turkey. What do you think, how will this novelty impact on the market?

- Unfortunately, up to this day, our Azerbaijani and Arabian brothers could not purchase property in Turkey. For this purpose it was necessary to create a company through which you can buy property or pass other procedures. The new law simplifies the process of acquiring real estate by foreigners. In my opinion, this innovation will positively affect not only the construction sector, but also on the economy as a whole. At present a major problem in Turkey is associated with the financing. Because each year 55-60 billion dollars are paid for energy in the country. In my opinion, in this situation, the money that foreigners spend on the purchase of real estate will help Turkey to solve this problem.

- Acquisition of property by foreigners in Turkey will probably raise prices ...

- 300 years ago, Napoleon said that "If the world were a single state, its capital should be its capital". However, despite such an important location, the price has not reached the world level yet. You know the world prices, average price in Istanbul is in the range of 2000-2500 dollars per square meter. Therefore, real estate acquisition by foreigners will lead to higher prices. I should note that mainly citizens of the Gulf countries show interest in buying property in Turkey. Of course, this demand will lead to higher prices.

- Are you trying to attract investment in your projects from Azerbaijan?

- Of course, if someone wants to build a job in Turkey, to invest, our projects are open to it. I invite the Azerbaijanis to buy apartments and property in Turkey. In This regard we will open offices in Baku. Note that, since March, when it started to discuss this law (simplification of acquisition of real estate by foreigners - APA), that is, over the past 2-3 months, our company has sold 850 apartments in Istanbul. In the next two years we plan to sell $ 2 billion-property.

- In recent years, Azerbaijan becoming one of the major tourist centers in the region by developing the tourism sector. In your opinion, is it possible to implement it in such a competitive environment in the region?

- Of course, maybe. I walked around Baku, the Caspian shore. The sea and the air of the city are excellent. You have many beautiful newly-constructed hotels. I think that Azerbaijan is lucky and your country will soon become one of the recreation centers of the region.