Flamingo Golf Resort .. The Potential
The establishment of 10 golf courses is planned in the Aegean city of Muğla’s Bodrum and Milas districts where Flamingo Goolf Resort is situated in the next six years. The golf areas will contribute to a growth in income for tourist facilities in the region. An investment about $4 million will be made in Bodrum and Milas, said Net Holding A.Ş. Executive Board member Cam Pulak, who was on a three-day visit to the Turkish Republic of northern Cyprus (TRNC), accompanied by businessmen, hoteliers and investors to study international golf courses in the country. He said thanks to the project, Muğla will become one of the leading golf centers in Europe and earn $5-7 billion foreign currency annually.
He said the golf facilities will be established within the borders of Milas’ Çamköy and Boğazköy villages, Ören district and Bodrum’s Meşelik village. The golf facilities will be established by Net Holding and Ağaoğlu Companies Group with an investment of $1.5 billion. The golf facilities will include 18 golf courses, 2,500 villas, four luxury hotels and sports complexes. Ten million jobs will be created in the region after the opening of the golf facilities.
He also added that they have gotten in touch with the World Union of Golf Clubs to organize international golf tournaments in Bodrum. Source http://www.turkey-hotels.biz/about/
Noreen Hynes Managing Director of Aquarius Properties said that this is really great news for golf tourism in Turkey and Bodrum is a superior location for lifestyle and Investors. It has the lifestyle facilities already like marinas, shops, restaurants, several beaches and is classed as the top luxury location for high end tourists. Now is the best time to invest here because as the golf courses open and the new commercial centre one of the largest in the region is opened the price of real estate is expected to rise and as mortgages are now available as well this should encourage people to buy now.
Turkey is experiencing significant capital appreciation and has a big shortage of housing which means hugh investment over the next 5 to 10 years. Investors in the Flamingo Golf Resort should enjoy above average capital appreciation because of the timing of purchase now being the opportune time and also because the properties have excellent rental opportunities being the first development on the same side as the Vita Park Golf Resort.
Up until now Turkey’s golf has been concentrated in two clear regions – Istanbul has three and Mediterranean Belek around a dozen – but now the southwestern province of Mugla is sure to be the one to watch. A holiday hotspot taking around 70% of all tourist arrivals to the country, Mugla has over 1,100km of sparkling turquoise coastline punctuated with chic marinas but up until now very little golf. 27-holes winding through pine forests and olive groves are under construction close to the village of Munculur and a further 36-holes are nearing completion at Vita Park near Bodrum but thanks to a joint venture between two large groups of companies, no less than 10 courses are now their way.
Noreen Hynes 2/06/08