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Akbuk Resort Group: Award‐Winning Developers
Best Development in Turkey 2008 for M d l Gardens Mandalya G d
Best Developer in Turkey 2010
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Akbuk Resort Group Member of Association of fA i ti f International Property Professionals
Consumer Choice Mandalya Gardens consistently voted i t tl t d top resort in Didim Region
Why Invest in Turkey? y est u ey?
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Strong, growing economy • Fastest GDP growth in Europe GDP Figures 1Q 2010 – 11.4%, 2Q – 10.3%. EU countries most 1% growth at best. OECD forecast 6.7% pa for 2011‐2017.
• Second fastest growth in G20 China was number 1
• GDP now past USD 1 trillion p Back to where it was before “credit Crunch"
• 17th largest economy in world (larger than Australia) • Falling inflation – 5.7% and still falling • Modern economy – Services & Textiles, Face of Turkish industry has changed – only 9% of economy is farming. Service industry biggest proportion – 66% (banks, tourism) followed Service industry biggest proportion – 66% (banks tourism) followed by manufacturing 25% (much of it fashion textiles)
• Very low government debt Public debt is 43% of GDP, Eurozone entry requirement is 60% with many existing members being in excess of that
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Up to 90% Mortgages p g g •Harmony Bay has secured mortgages of up to 90% LTV mortgages of up to 90% LTV •Rental returns are expected to be enough to cover mortgage interest •Lenders expect future price growth to limit their exposure growth to limit their exposure www.SIPPPropertyInvestment.com
Low Cost of Living
•Council Tax about £20 a year •Fresh foods VERY cheap ‐ £10 of •Fresh foods VERY cheap £10 of fresh fruit would be too heavy to t carry to your car •£200 a month for basic living costs
Tourist Numbers Risingg • Government £73 million ad campaign ‘Four Seasons, Twelve ‘ l Months’ •Visitor numbers 23.8m in 2007, 27m in 2009, 31m in 2010) , ) • Increasing Westernisation •Half hour closer than Cyprus •Half hour closer than Cyprus •Increasing numbers of flights from UK and Europe from UK and Europe • Great climate •Golf courses being built to raise G lf b i b il i off‐season www.SIPPPropertyInvestment.com
EU Accession 2015? •Economy already meets Euro criteria criteria •Better than existing Euro member states • Question is – Will Turkey want to j join?
Stable Political Regime •Erdogan administration since 2002 • 8 years Budgetary restraint have led to current economic position of p stength • Shift in Export Market Turkey is a fast www.SIPPPropertyInvestment.com
rising Economic Power and whilst 50% of export market is still to Europe it is tapping into the cash rich export markets in Russia and the Middle East
Price Growth High and g Sustainable •Firm economic foundations • Lending volume increasing – one of major factors in price growth j p g •Total mortgage indebtedness only g g y one tenth of EU average 5% in Turkey vs 50% in Europe Turkey vs. 50% in Europe
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Don’tt just take our word for it just take our word for it Don Economists group countries based on economic similarities often by using a memorable acronym. The PIIGS came to prominence in light of the global economic downtown. Portugal, Italy, Ireland, Greece f th l b l i d t P t l It l I l d G and Spain were highlighted as European nations with dangerously large sovereign debt burdens and notably ones to avoid when investing. g On a positive note, focusing on countries with widely acknowledged emerging markets ‐ for the past few years the BRIC countries were the flavour of the Economic Press (Brazil, Russia, India and China.) The Economist magazine and a number of other key international The Economist magazine , and a number of other key international analysts have recently turned favour to the CIVETS as the key markets to be in now from 2011. The CIVETS are Columbia Indonesia, Vietnam, Egypt, TURKEY and South Africa
• PIIGS ‐ European nations with nations with dangerously large sovereign debt sovereign debt burdens BRICs emerging emerging • BRICs ‐ market countries
•Introducing CIVETS – Economist 2010
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•Turkey – Closest to •Turkey Closest to home, no sharks and t ffl t (hi h t most affluent (highest GDP per head)
Why Akbuk? Why Akbuk? • Up‐and‐coming town • Established tourist destination Brits have been visiting for 30 years, established ex‐pat community
• Impressive new marina Opened in 2010, Cost $52million, 400 berth, 600 dry docks, p , $ , , y , can accommodate yachts up to 50m+ in length
• New airport road planned – Bodrum Airport Current Journey is 45‐50 mins, new airport road will mean j y journey time of 25 mins
• Wide range of established restaurants and shops restaurants and shops Approx 20 restaurants, shops, supermarkets, regular street market. Provides all daily needs
• Infrastructure Investment www.SIPPPropertyInvestment.com
EU investing 6.6m Euro into Turkey over next 5 years 2 million Lira (approx £80million) into Didim Region alone
Major changes to Akbuk Major changes to Akbuk Big Investment Into Akbuk Currently • Upgrading the 3 beaches ‐ Upgrading the 3 beaches ‐ In total In total 112,000 sq meters of beach front upgrades. • Upgrading the local marina, the roads, play parks, building new sport and play parks, building a new shopping mall near the beach and upgrading all the natural water pg g resources. Starting an advertising campaign • Starting an advertising campaign on tourism for Akbuk.
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Ariel View of Akbuk Ariel View of Akbuk
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Lovely Beaches Lovely Beaches
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Local fishing and Local fishing and Excursion Boats
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Previous Developments in Akbuk
Mandalya Gardens, collection of 53 apartments with communal pool, shop, reception desk, games room and bar / restaurant, completed in 2008. www.SIPPPropertyInvestment.com
Mandalya Cottages and Apartments
Smaller residential developments completed in 2007 – p p 2008 Previous development provide feel for developers commitment to quality build and use of natural materials www.SIPPPropertyInvestment.com
Harmony Bay Resort & Spa Harmony Bay Resort & Spa • Luxury 5* Resort • Boutique Hotel and range of q g Luxury Suites Unrivalled Leisure & • Unrivalled Leisure & Recreation Facilities • Assured Rental Returns – 6% A dR lR 6% for 2 years • Prices from £49,000 • Mortgages up to 90% LTV Mortgages up to 90% LTV (STS) • Properties available to h h h purchase through a SIPP www.SIPPPropertyInvestment.com
Harmony Bay Resort & Spa Harmony Bay Resort & Spa • Re‐sales Office on site • Rental Management Pool from year 3 Pool from year 3 10 Year Government • 10‐Year Government‐ Bonded Build Guarantee • Free Furniture Pack • Freehold Tenure • Viewing Trips www.SIPPPropertyInvestment.com
The Site Plan The Site Plan
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Project Gallery Project Gallery
Emerald Plaza Commercial Hub Serenity Spa Swimming Pools
Indoor Games Room
Eating & Drinking
Fitness Fit Centre
Tennis
Retail U i Units
Emerald Plaza is the heart of the development ‐ 35 units in total over 3 floors offering commercial area of 4000sqm
The Suites • 72 Junior Suites • 36 Double & Triple Suites • 16 Double & Executive Suites 4 Family & Double Suites • 4 Family & Double Suites • 16 Duplex Suites • 6% Assured Rent for 2 Yrs • Yr 3 returns predicted to be from 8% based on a be from 8%, based on a 55% Occupancy Pi f £49 000 • Price range from £49,000 ‐ £98,000
The Villas The Villas Just 3 Luxurious Detached villas each with its own private 60m² pool, large i 60 ² l l enclosed 600m² landscaped d d h d d t garden and shaded car port. Sea and Mountain Views Sea and Mountain Views £211 000 £211,000
Payment Options Payment Options Payment Option 1 Payment Option 2 Payment Option 3 Reservation Fee
£2,000
20% Payment ‐ Stage 1 Payment Less reservation (On Contract) fee
£2,000
£2,000
£2,000
40% Payment ‐ Less reservation fee
90% Payment ‐ Less reservation fee
33% Payment
Stage 2 Payment (Commencement 20% Payment of ground works) of ground works)
20% Payment
Stage 3 Payment (Completion of skeleton stage)
20% Payment
Stage 4 Payment (Completion)
60% Payment
Payment Option 4 (SIPP Purchase)
15% Payment The remaining The remaining balance of 5% is balance of 10% is written off written off
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34% Payment
33% Payment
Purchase Process Purchase Process 1. Check availability with Akbuk Ch k il bili i h kb k Resort Group or via G i online system 2. Complete reservation form and pay £2,000 3. Contracts will be sent to clients to sign and return within 30 days. 1st stage deposit to be paid (less i hi 30 d 1 d i b id (l reservation fee) 4. Subsequent stage payments will be made in accordance with timetable (all clients will be given 1 month’s notice) www.SIPPPropertyInvestment.com
Akbuk Resort Group Akbuk Resort Group
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