Last Wednesday, in March 1st, 2017, I was at Oxford University real estate conference. The theme of the conference was “managing change”. The recent political shifts including the Brexit, the Trump effect and other political and economic developments such as de-globalization trends affecting both the developed and emerging countries was discussed in the conference. The general transformations in demographics and behavioral trends especially the different life styles of the generations and their effects to the future of real estate industry were explored. The collective living, the changing dynamics of the new generation called “millennials” were underlined. The currency effect, the importance of FDI’s and of course the consequences of political volatility to emerging countries were emphasized.
In the closing remarks of the conference, due to the latest economical developments, “today is mentioned as the perfect time to invest in Turkey real estate market.”
The day after the conference, Dr. Emre Camlibel, the chairman of Re-Pie Real Estate Fund Management Company and I attended to a panel with Dr. Andrew Baum, the chair of the Oxford Real Estate program. The topic of our panel was “Capital Market Instruments for Real Estate in Emerging Countries: Turkey Case”. We made presentations to Oxford University MBA Students and covered the political, social and economic changes including the political developments, security issues, foreign policy, government policies, as well as country macro-economic indicators, demographics, trends and life styles. We discussed the global economic forecasts, the real estate size in the world, the position of Turkey, the residential, commercial, logistics and hospitality markets comprehensively. Then, we focused more on capital market instruments including the REITs, REIFs, sukuk and real estate certificate, as well as the pension fund investments both in Turkey and in other countries. The panel took more than two hours and ended with many questions of the MBA students.
Oxford University, March 1-2, 2017