More mortgage banks... According to daily Aksam, 10 banks have applied to BRSA in order to get authorization for operating as a mortgage bank in Turkey. Following the approval of Eurohypo AG and Aareal Bank back in October 2005, General Electric Finance, BNP Paribas, Uni Credito, Banca Intesa, Dexia, DZ Bank and Bank of New York are applied to BRSA in order to get operating rights as a mortgage bank in Turkey. Increasing interest for mortgage financing by foreign financing corporations before the approval of the mortgage bill is confirming Turkey’s real estate sector growth dynamics, thus we perceive these developments positive.
The perfect way to exploit these developments is to acquire a residential real estate developer in Turkey. It is still not too late.
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