Utkucan Çelik talks about Loza Evleri: 50 months at zero interest
Utkucan Çelik, a member of the Board of Güçlü İnşaat, answered questions from projemlak.com.
29.03.2018 05:25

Utkucan Çelik, a member of the Board of Güçlü İnşaat, spoke exclusively to projemlak.com as the company prepared to bring its branded-housing initiative to the Bağcılar–Merter area. Çelik said they had not included 1+1 apartments at Loza Evleri because they wanted to put the family concept first, and that the 2+1 and 3+1 apartments ranged from 113 to 300 square metres.

Here are Çelik’s exclusive comments to projemlak.com.

Could you tell us about Loza Evleri?
Loza Evleri is a project built on 7,050 square metres in the Bağcılar–Merter area. It is a development we put into practice with a good team, in the right location and with good transport links. Loza Evleri comprises 162 apartments. Its total construction area is 135,000 square metres. There are approximately six shops. With its social facilities and special apartments, it has taken shape as a complete project. Apartment sizes range from 113 to 300 square metres.

SPECIAL APARTMENT CONCEPT
Do the apartment sizes start at 1+1?
We do not have 1+1 apartments. When we began the project, we wanted it to be suited to family life, so we did not include 1+1 apartments. Loza Evleri has 2+1 and 3+1 apartments. The 3+1 apartments go up to 300 square metres under the “Special Apartment” concept, while the 2+1 apartments start at 113 square metres.
What are the prices per square metre?
They were around TRY 4,000 when we first started the project. Now they range from TRY 5,000 to TRY 5,500.
What percentage of the project have you sold?
We have sold 70% so far.

35% APPRECIATION
How much appreciation do you expect the project to deliver?
We initially began sales at TRY 4,000 per square metre. In fact, during the pre-launch period our prices were around TRY 3,900. They have now risen to around TRY 5,000, an increase of 25%. There are about three months left until construction is finished. We expect a further increase of around 10% during this period, which would amount to a total increase of 35%.
Mortgage interest rates are at their highest level in the past eight years and are affecting demand quite negatively. How are you addressing this?
We offer our customers two options. We direct them either to instalments arranged by the company or to the agreement we have made with a private bank. For this reason, the rise in interest rates is not passed on to our customers. We make sales through a 50-month, zero-interest campaign, so higher rates do not affect our prices. This makes the project advantageous.

What kind of year is 2018 for the residential sector?
The Turkish Statistical Institute figures have just been released. Home sales are higher than last year. Thanks to government incentives, people can now buy homes more easily. Projects have entered into greater competition, and quality is improving. For this reason, I expect home sales to increase further.

NEW PROJECTS ARE ON THE WAY
Could you tell us about Güçlü İnşaat’s new projects planned for this year?
We are considering an investment of TRY 400 million in the residential sector in 2018. Güçlü operates in both infrastructure and housing. Alongside projects we are considering as phases two and three in Levent and Ataşehir, we are also considering a project in Gayrettepe.
Are you considering residential development outside Istanbul?
We have already bought a large plot of land in Prague, the capital of the Czech Republic. We are considering entering the residential sector there, and our work is continuing.
Are you considering a project elsewhere in Türkiye, outside Istanbul?
We have such a goal after we reach a certain scale in Istanbul in three or four years. We are considering Bodrum and İzmir.
Could you tell us more about your activities abroad?
We have been operating in Kazakhstan since 2006. We first went there in 2006 and built residential projects in Almaty, Shymkent and Astana. We carried out a very large project in Shymkent; our second major project was in Almaty. Our projects outside Astana were all residential. We have completed them, but we would like to undertake new work in Kazakhstan.
You also have infrastructure operations, I believe. What is happening there?
Güçlü builds large residential developments. We have built housing projects before, but at present 80% of our business is based on infrastructure. We want to bring this to a balance of 50% infrastructure and 50% housing. We currently have projects involving tunnels, roads, onshore pipelines, marine outfalls and shopping centres. These are projects we are carrying out in cities such as Istanbul, Çorlu, Trabzon and Konya.

IMPORTANT ADVICE FOR HOMEbuyers!
What advice would you give people who want to buy a home?
My advice is to research the track record of the company building the home. The quality of the home must be good, from the materials used right through to the workmanship. Buyers should pay attention to these things.
Returning to Loza Evleri, when will handover take place?
About 80% of Loza Evleri is complete. We plan to hand over the homes at the end of June 2018.
Could you also tell us a little about the project’s location?
There is a tram stop exactly 50 metres from Loza Evleri. The metro station is 600 metres away; a primary school and kindergarten are directly opposite, and Bağcılar Research Hospital is immediately below. The police station and shopping centre are all within a 500-metre radius. All these social amenities are next to the project, so residents can reach them without having to walk far.
Finally, is there anything else you would like to add about the project?
Loza Evleri will offer significant advantages to residents because of the social benefits available in the area and its surroundings. It is the only branded residential project in the area. We are delivering the highest-quality residential project in the district.
Sümeyra KIRCA — projemlak.com
Source: Projemlak