COUNTRY FOCUS
CASE STUDY ISTANBUL AND BEYOND
Edinburgh architectural practice 10 Design is thriving in Turkey. Established just three years ago, the company is already doing high-profile business throughout the world.
In just six months, it has won five major contracts in Turkey – three in Istanbul and one each in Izmir and Ankara. “We have been successful in Istanbul, where we are opening an office, but we also wanted to branch out to other cities,” explains Chris Jones, managing director – Europe. “Izmir, for example, is now seeing an increase in development and investment.” One of the projects in Istanbul is a £370m mixed-use development incorporating residential space and a hotel. 10 Design is also working on a 25-storey tower in the business district of Levent and, on the Asian side of the city, the company is involved in the development of a 40,000 sq.m. park, close to the new International Financial Centre. The project in Izmir, already underway, is a £100m high-end residential development. “UK Trade & Investment’s network has been very helpful to us,” says Jones. “Its networking events and showcases create a fertile environment to engage with Turkish business in this vibrant and growing economy.”
Turkey makes up around 10 per cent of this successful young company’s business, which also has offices in Hong Kong, Shanghai and Denver, Colorado. >
10design.com
there are several large provincial cities, like Izmir, Gaziantep and Diyabakir, where UK Trade & Investment is working to extend the reach of British business.
• Education and skills: given Turkey’s young population, this is a huge area of opportunity. There are 30m students in primary, secondary and tertiary education, which increases by 2 per cent annually, and 1.8m students graduate each year. UK Trade & Investment is working with the British Council to promote UK educational establishments to potential Turkish students and to highlight the opportunities for UK educational institutions and services.
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www.ukti.gov.uk
English is widely spoken in business circles and the UK’s support for Turkey to join the EU means that there is goodwill and openness to doing business with Britain. Turkey’s economy, the fastest-growing in Europe, has advanced rapidly over the past decade and the country has become a major trading partner with Europe and the Middle East. “Turkey’s dramatic growth of over 9 per cent in 2010 and 8.5 per cent in 2011 dropped to 2-3 per cent last year, which is still healthy and arguably a welcome correction,” says Turner. “We think that if Turkey can continue to reform its economy, there is every prospect of growth continuing at 4-5 per cent over next few years, which will continue to make the country a very attractive prospect for UK SMEs and larger companies wanting to do business in an emerging market right here in Europe.” n
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