Approximately 27 percent of companies established in 2006 with foreign capital are based in Antalya and Muğla. The focus of these businesses is largely on real estate rental and construction, both affected by tourism.

Companies established in 2006 with foreign capital prefer the cities of Antalya and Muğla the most after Istanbul. Foreigners buy the most real estate in Antalya. According to official figures, the percentage of real estate property owned by foreigners in Antalya lies at 23 percent, which means that 14,610 real estate properties have been sold to foreigners. Muğla is on third place with 8,251.
48 percent (1,616) of the 3,350 companies established in 2006 preferred Istanbul, 18 percent Antalya, 9 percent Muğla, 6 percent İzmir and 5 percent Ankara. Companies in Istanbul are focused on the wholesale and retail trade and the production sector, whereas the ones in Antalya and Muğla are focused on the tourism sector with weight on real estate rentals, hotels and restaurants.

Since the act regarding the real estate sales to foreigners passed in 2003, foreigners have invested $7.2 billion in Turkey. The most sales in real estate, since the foundation of the republic, has been realized in 2006. Out of the total of 66,000 real estate sales to foreigners 11,000 have been realized in 2006.

14,955 companies in 52 years

According to a report called “International Direct Investments” announced by the Treasury at the beginning of last week, a total of 14,955 companies with international capital came to Turkey between the dates of 1954 and 2006. Istanbul with 8,334 companies takes the first place, Antalya second place with 1,764 companies, Ankara third place with 1,039 companies, İzmir fourth place with 926 companies and Muğla fifth place with 860 companies.

Out of the companies established in Istanbul since 1954, 3,222 are mostly in the wholesale/retail business, while 1,781 are in the production industry and 353 are in the construction business. 976 companies were established in the real estate rental and business sector.

In Antalya, 345 companies were established in the hotel and restaurant sector and 338 companies in the construction sector in the past 52 years. 379 companies preferred Antalya for real estate rental business. Istanbul and Antalya competed with 345 and 372 companies respectively in the construction, hotel and restaurant sector.

http://www.turkishdailynews.com.tr/