Siesta, the choice of world-famous hotels and airports

Entered the sector with the production of plastic garden furniture in 1978, the company exports to 100 countries. Siesta designs are mostly preferred in famous hotel chains, airports and restaurants, too.

Siesta, Turkey's first manufacturer of plastic garden furniture, brings together its products with its customers in 500 retail outlets in more than 100 countries. Siesta adds privilege and elegance to living spaces with its special design products developed for outdoor and indoor furniture.

Emphasis of design Siesta, which develops with the aim of being a global brand coming from Turkey and won international recognition, prepares its collection

with award winning Italian and Turkish designers. Trend setting brand processes the origi-nal new pattern designs developed in Italy in its 40,000sqm factory in Buyukcekmece with its R&D and P&D works and more than 200 employees. The company subjects all of its products to various test and offers its products to the customers with its international assurance certification of products. Siesta products are preferred in famous hotels and restaurants in different cities of the world as well as living spaces.

Mentioning that we can specify that Siesta products are also used at Istanbul Airport, the world's largest airport.

Pastel colors are on the “Sky” collection!

Pastel tones on Spring & Summer 2019 collection of Siesta meet in the classic lines of black, white and gray colors. New products of Siesta that come with armchair, chair, table and coffee table take part in new “Sky” collection.

Turkısh contractors assocıatıon ıssued comprehensıve constructıon sector analysıs for the second quarter of 2019 that covers macro economıc data and some remarks Turkish contractors undersigned $ 5.1 billion projects abroad. Year-end target is $ 20 billion

Turkish contracting firms focused on abroad to overcome the increasing difficulties in domestic market.

Turkish Association of Contractors (TMB) published July 2019 issue of its Analysis of Construction Sector, which is followed closely by economic circles and by the construction industry. The report has macro and micro economic data brought together on global and national scale. In the Construction Sector Analysis titled “Economy is the Next”, it is underlined that Turkish contracting companies are focusing more on the projects abroad due to the increasing difficulties in the country. 109 projects have been undertaken in “Overseas Contracting Services” amounting USD 5.1 billion in January-June 2019 period. Thus, the number of projects undertaken so far has exceeded 9,700 and the total project value amounted USD 386 billion,” says the report. “The current outlook is interpreted to mean that the sector will undertake 10 thousandth project abroad this year and will reach the level of USD 20 billion in earnings it has achieved in 2018” the report underlined.

“High value-added projects needed” In the report, it is asserted, “Ensuring that our contractors are involved in high value-added projects is another priority. In order to further strengthen our position in the international markets, it is important to increase the awareness of our companies and to strengthen the technical consultancy sector by increasing the scale of the firms.” Under the main headings "The World", "Turkey" and "Construction Sector" summarized in 28 pages, Turkey Contractors Association Construction Sector Analysis covers the following topics: IF QUARTERLY ECONOMIC CONJUNCTURE IS ASSESSED ACCURATELY, A MORE POSITIVE PICTURE CAN BE DRAWN: Monetary expansion-oriented decisions in the US and the European Central Bank, can pave the way for more optimistic outlook in terms of both currency rate and inflations for the renewal of Turkey’s foreign commitments of USD 177 billion if the conjuncture is assessed accurately. In this sense, positive expectations about the global outlook for funding will be required while Turkey's seize opportunities. CONTRACTION IN THE SECTOR CONTINUES: The contraction in the construction sector, which is the driving force of the economy, started last year and continued in the first quarter of this year. The sector contracted by 5.6% and 8.7% in the last two quarters of 2018 and contracted by 10.9% in the first quarter of this year. TurkStat's January-March 2019 GDP data revealed that the largest contraction in the main sectors was in construction. The sub-index of construction activities for the last three months decreased from 95.6 in January 2018 to 61.5 in September and became 59.9 in December. The index, which is an indicator of the contraction in the sector, decreased to 55.4 in June 2019.

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SIX THOUSANDS OF FILES ARE EXPECTED TO BE FINALIZED IN JULY: There are serious uncertainties and difficulties regarding the liquidation /transfer /extension arrangements for the contractors whose works have come to a standstill due to high cost increases. Unlike previous practices, the Ministry of Treasury and Finance is required

to evaluate the applications made to employer administrations. Within this framework, it is expected that the applications of approximately 6 thousand files submitted to the Ministry of Treasury and Finance will be finalized. In addition, in order to avoid similar problems for the coming period; determining a realistic price difference calculation method that will not only aggravate

both administrations and firms and reflect fair price fluctuations in the market is among the priority demands of the sector. STRUCTURAL REFORMS SHOULD BE IMPLEMENTED: With the completion of the elections and the developments in the US on the S-400 issue, political uncertainties were partially left behind; it is time for decisive steps to be taken to solve the problems in the economy. Medium and long-term structural reforms aiming to make the economy efficient and resistant to shocks need to be implemented. TURKISH BANKS SHOULD BE EFFICIENTLY PROMOTED: Letters of guarantee and counter-guarantee problems of our contractors have increased in many markets abroad in the recent period. For the solution, it is important that the Turkish banking system and Turkish banks are promoted effectively and steps are taken to ensure that the letters of guarantee to be received from our banks are accepted directly in these markets and that the issue is brought to the agenda in official contacts.

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FIVE TO SIX BILLION DOLLARS FROM RUSSIAN MARKET: Since 1972, Russia has maintained its leading position with a share of 19.7% from all our overseas projects. It is foreseen that it is possible to approach the potential project amount of average of 5 - 6 billion USD/year realized in Russian market in 2012-2015 period. IMPORTANT SHARE IN

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IRAQ'S RECONSTRUCTION: The introduction of a “peace economy” in Iraq is of great importance. Within this framework, Turkey Contractors Union (TMB) "Iraq's Reconstruction for Turkey - Iraq Civil Forum" was organized in Baghdad. The latter is an ongoing work in the direction of the Forum to be held in Turkey. It is considered that Turkish contractors can get a significant share in the joint working

experience of the past from the reconstruction works expected to start after the war with the payment of the accumulated receivables in Iraq and the completion of their existing projects. AFRICAN MARKET OF 2.5 TRILLION: With the African Continental Free Trade Area Agreement entered into force on July 7, the world's largest commercial market, with an economic size of US $ 2.5 trillion, with 1.2 billion people, has become a good opportunity. This development will facilitate the circulation and expansion of Turkish products in the continent, which the construction sector is closely monitoring as a potential market for the last period, and support our contractors undertaking projects in the region in the input flow. COOPERATION IN THIRD COUNTRIES WITH JAPAN: In the recent cooperation initiatives in the third countries, it is aimed to bring together the entrepreneurial ability of Turkish companies, especially African and Eurasian companies, and local market knowledge with Japan's financing opportunities and technology. For

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this purpose, various activities have been carried out by TMB together with Japanese Ministry, institutions and companies. REAL ESTATE PRICES ARE FALLING: Real estate prices and liquidation of stocks are down in Turkey, in general. Despite the extended tax incentive by the end of 2019, housing sales declined in the first half of the year, and the uncertainty in the economy made the picture that supply and demand could not meet. While sales are still present in this case the need for housing in Turkey, due to the high interest rates of deposits, it is described as a result of concerns about falling purchasing power in the future. Only in the last quarter of the year, sector representatives can expect the recovery in the housing segment if uncertainties disappear and financial conditions improve.

Argos in Cappadocia is the best heritage hotel once again!

World Travel Awards, the awards that shape the future of global tourism industry, honored argos in Cappadocia for the third consecutive year as the ‘Best Heritage Hotel of Turkey’.

Deemed as the ‘Oscars’ of the world of hospitality, the hotly anticipated World Travel Awards are delivered at the gala ceremony, in Madeira city of Portugal this year. argos in Cappadocia Hotel received the ‘Best Heritage Hotel, Turkey’ award for the third consecutive year at the ceremony, which took place in Belmond Reid’s Palace at June 8th evening. Being an ongoing restoration project for 23 years now in the ancient Uçhisar Village at the heart of Cappadocia, argos in Cappadocia composes of an ancient monastery campus, connected cave dwellings, underground tunnels and historical houses. Named as ‘the village with a reception room’ by its guests, the hotel offers an experience way beyond an ordinary tourism establishment. Within the premises, Bezirhane is a part of the 2000 years old monastery, which was once used as a caravansary for the famous Silk Road traders and more recently as a linseed oil factory. This historical building with its two giant domes and the extraordinary natural acoustics, now hosts exceptional meetings, entertainments, wedding parties and concerts. Being the most recent historical revival project in the ancient village Museum Hall & Suites is a multi-purpose venue that exhibits the remains of a second historical

linseed oil factory underneath its glass floor. Chapel, another historical venue revived by argos in Cappadocia where had once been a worshipping place for the monks and had come to serve for many different purposes for the locals in time, is again one of the most charming event venues of Turkey today.

Offering an elegant and conscious mixture of traditional, natural and luxury, argos in Cappadocia is also a wine hotel with many international awards for its very own wines from Argos vineries and the SEKİ Restaurant. World Travel Awards are determined by the votes of travel professionals and high-end consumers on region base and then depict the most successful in hospitality globally since 1994. argos in Cappadocia has been honored with the same award at 2107 and 2018 World Travel Awards as well.