Folkart Vega Turnkey

İzmir is the rising star of real estate markets not only in Turkey but all over the world. The global housing prices index of the UK-based global real estate consultancy Knight Frank, which covers the first quarter data of 2021, clearly shows this. According to this report, which covers 150 cities and deals with 12-month price changes, İzmir was the city in which the most value was gained by housing in the world with 33.9 percent.

Folkart Vega Project, which was launched by Folkart on October 12, 2018 and started as turnkey yesterday, provided its investors with income above the average of both Izmir, Turkey and the world.

Folkart Vega, which takes its name from the brightest star in the Lyre Constellation, is located in the center, right across the Izmir Bay, and consists of 843 residences and 53 commercial areas. Those who invested in Folkart Vega, despite the compounded inflation in Turkish lira and the increase in foreign exchange, achieved returns well above the US Dollar and Euro.

“On Time Delivery As We Promised”

Stating that they are happy to deliver Folkart Vega, which has an investment value of approximately 1 billion 650 million TL, on time despite the pandemic, Folkart Chairman of the Board Mesut Sancak said the following at the ceremony where Vega's first residences were delivered:

“We launched our Vega project shortly after the Istanbul-Izmir highway was put into service. On that day, I emphasized that Izmir had become a much more accessible city, and I said that this would make a significant contribution to the city's economy. Just before the turnkey delivery, the 1915 Çanakkale Bridge was put into service. Izmir is now the city where all roads lead. In short, we can say that all roads lead to İzmir. The white-collar migration, which started before the pandemic period and continues, continues to increase. As Folkart, we aim to contribute to both the urban culture and the economy with the quality projects we undertake. We contribute to the cultural and artistic life of the city with the Folkart Gallery and supports in various fields. We support the teams of this beautiful city with sponsorships. The understanding of “Folkart will do the best if it does it, and those who invest in Folkart will make a good profit” symbolizes the trust in our brand. Despite the pandemic, we are delighted to be able to deliver Vega on time as promised, planned and designed.”

Folkart Vega with Current Data

At Folkart Vega, 37.8% of sales took place in the first three months after the launch. While the sales rate of 72.8% was reached in the first year, the project met with its new owners before the construction was completed. A significant amount of European-based foreign sales were also made in Vega.

Folkart Vega both provided income to its investors and supported employment during a critical period such as the 'pandemic period'. Approximately 4,500 people worked in Vega from the first day until the construction was completed. The project, which has special landscaping and green areas, includes autonomous garden areas, consists of three towers of different heights and a horizontal block.

Turnkey Process

Folkart Vega's first owners were businessmen Nedim Saba and Eli Alharal, and theater artist Volkan Severcan. Folkart Chairman of the Board Mesut Sancak and Folkart General Manager Metin Sancak received their keys.

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