Oraka Group Chairman H. Tuncay Altunsu Discusses Kayabaşı 17th District Project and Housing Sector Trends
H. Tuncay Altunsu, Chairman of Oraka Group, shared insights about the Kayabaşı 17th District Project, which was awarded in last year’s “National Housing Design Architectural Idea Competition” organized by TOKİ.
Innovations and technological developments in the housing sector continue rapidly, and in recent years, the industry has witnessed a significant transformation. Oraka İnşaat, known for its large-scale housing projects, high-tech smart buildings, and steel construction works, is preparing to celebrate its 15th anniversary. As we welcome 2012, we asked H. Tuncay Altunsu to review the past year in construction and share expectations for the year ahead.
“The demand for high-quality housing has increased noticeably…”
How would you evaluate developments in the construction and real estate sector in 2011?
The year 2011, particularly the last six months, was much more active in terms of housing sales compared to previous years. Marketing strategies in the sector have become more conscious and well-informed. Especially after the Van earthquake, the demand for high-quality housing has increased significantly. In the last quarter of 2011, buyers began to prioritize quality over price and location. Additionally, environmentally friendly and accessible projects gained prominence this year.
Does Oraka Group have any environmentally friendly or accessible projects underway?
At Oraka Group, our Kayabaşı 17th District Project has two main features: environmentally conscious and accessible living spaces. The Kayabaşı 17th District Project, covering 150,000 m² and comprising 840 residences, was awarded in last year’s “National Housing Design Architectural Idea Competition” organized by TOKİ. The project includes landscaping with dwarf trees on approximately 8,000 m² of terraces, rainwater harvesting systems, solar energy installations, and all necessary features to ensure an accessible living environment. The project is scheduled for completion in the second half of 2012.
“Turkey’s situation is relatively better compared to other countries…”
What are your expectations for 2012, and what developments do you foresee in the sector?
The real estate sector, which will close the year with a higher-than-expected demand, has launched significant campaigns due to rising interest rates, a serious crisis in Europe, and the potential impact on Turkey. Considering the possibility of a global crisis, Turkey’s situation is relatively better compared to other countries. We expect these campaigns to continue and even increase in 2012.
Compared to the outgoing year, how will these campaigns differ?
In response to the crisis, the housing sector will see increased demand for short-term investments, particularly for projects located near city centers that are greener, environmentally friendly, higher quality, and conceptually designed. Real estate prices are expected to drop slightly below the 2011 levels.
