Nef board chairman Erden Timur, who has spoken about rising housing prices and rents, said those who say there has been a housing bubble for years are the sin of millions of people who cannot find a house to buy and a house to rent. Timur, who described what happened exactly as the “housing crisis”, said: “We as an industry have always said the opposite, we have spoken the truth. But we couldn’t convince anyone. It was said that there was a bubble for 7 years, but on the contrary, housing prices continued to rise. Then the problem of supply appeared. Talks about the bubble. reduce production glasses from 1, we can’t find glasses. Now housing is not found. Look, every year, 700-800,000 housing is needed in Turkey. housing and we don’t do any other work. There is no no substitute for the housing problem. So today, if you can’t find a car, we can use public transport. But if we can’t find a house, we can’t live in tents. No state will allow it either. Because it is. “It turns into an internal security issue. You have to have a residence,” he said.
ACCOMMODATION CAN COST 900,000 LIRA
Noting that land costs are very high when building a house, Timur also said that the solution to the housing crisis is in the hands of the state, “76% of housing costs go to the land and to taxes, and you will finance the construction with the rest. If the treasury land is used and no tax is collected, the cost of housing is 900,000 liras. “The housing crisis can be solved by granting grants interest-free loans subject to certain conditions. 15 million houses are produced. problem is solved,” he said.
IPO PLAN ABROAD
Stating that the Turkish real estate industry still lacks an international brand, Timur Nef said: “Our goal from the very beginning is to be the international brand of the industry. We want to turn this work into manufactured production and go assemble it. on site. This is the point where we want to move the system. Only project in Istanbul. If you develop, you don’t need to take this company to technology production. But if you want to become a brand world is different As Nef, we act with the aim of restructuring and bringing our system to the countries within the framework of our vision, which has been our vision since the day of our establishment, to carry our business internationally.”
Noting that they aim to appear on the world stage as a Turkish company in London or New York for the public offering, Timur said: “There is a need to reach a certain balance sheet size in the projects As a real estate and technology company, our dream is to go public in this way… In summary, 3 We have a public offering project with new investments in terms of industry and technology”, has he declared.
PREPARING TO INVEST 3.4 BILLION TL
Timur said that they focused on Nef Arsa, developed by Nef, “Our main activity will always be housing… But we will continue to develop in Nef Arsa. In 2021, Nef Arsa represents 25% of the turnover of 3.5 billion lira from Nef. We expect it to have a larger share in the total turnover in 2022. So far, we have developed a total of 27 million square meters of zoned land, mainly in the Marmara region, the Aegean region and some of them in the Central Anatolia region have developed the largest areas in the cities of Marmara and the Aegean region, as well as in large cities such as Ankara .We are going to order at least 4 new land projects. We are planning a new investment of 3.4 billion liras with Nef Arsa only this year,” he said.
THE MOST PROFITABLE INVESTMENT NEF LAND
In his statements regarding Nef Arsa, Timur said: “We worked on a place 6-7 years ago. At that time we asked if it was a more profitable house or land .More than 90% said land is more profitable. .Think about it. You buy land for 100-200,000 TL. You buy it in installments, but people can’t buy it. Because there is no one who sells the land institutionally. As Nef, we buy the land. the plots, we undertake to build the road, the infrastructures, the electricity and the water. Projects Ine Nef depending on the size of the projects. It can also be done. Maybe there will be a loss of the Nave projects inside, but it will be more profitable because it increases the total value of the land. In short, we add value to the places we buy, and we make sure that all stakeholders gain.When people buy the land, it will go up in value e For 5 to 10 years or will let their children stay, it is a safe investment for the future of the children. He buys land so he can have it. It remains empty during this time and does nothing. We also want this place, which people buy to invest, to become a farm during the investment period. We allow them to evaluate it within the framework of the fold home, which is the patented innovation of Nef, which makes it possible to use bi We build farms on the ground. We deliver a plot designed for social spaces, either with its farmhouse or with its small house on it. In some plots, we put a university there. We are making a lot of investments in the land to increase its value. We bring universities to some lands and different institutions to others.
CAPITAL INCREASE FURTHER TL 560 MILLION
Highlighting that Nef has commissioned global companies to perform audits and assessments, Timur said: “In 2021, Nef’s total assets, i.e. asset size, increased by 80% . The assets of the company have increased from 6 billion TL to 11 billion TL. The main source of the increase is pretty much investment. We can summarize as the acquisition of new purpose-built real estate and the increase in the value of real estate. These valuations were made by TSKB and were audited by PwC during the independent audit and included in the financial statement. The company’s equity increased to TL 3.5 billion. In this process, we increased the capital by 560 million TL. Now his assets are even greater. Nef’s assets are around TL 11 billion, Petrol Ofisi’s assets are around TL 12 billion, and OPET’s assets are around TL 8 billion and the equity of the Office at 2.8 billion TL. We are one of the best companies in Turkey in terms of liabilities/assets ratio,” he said.