Real Estate Articles

As far as the number of most high-rise buildings goes, Istanbul is one of the top ten cities in the world. Istanbul will become a high-rise plaza heaven within the next three years. The City gained 90,000 square metres of additional office space during the course of 2007, and 15 new developments are planned for completion by the year 2010.

This increase in commercial real estate in Istanbul is manifesting itself in more shopping malls, regardless of rising interest rates in the country, appears not to be too affected by the financial market shakes. Turkey as a market is characterised by a constantly growing population. Turkey’s projected population growth rate between 2000 and 2050 is 43%, against the European rate of 10.3%. By 2050 it will have the largest population in Europe. It already has one of the youngest populations with an average age of 27 years compared with the EU’s 43 years. Foreign real-estate investors, who have joined with local companies, have developed a big appetite to meet Turkey’s growing economic needs for commercial investment shops, office buildings and apartments with modern amenities.

The Istanbul market exhibits an enormous demand across all types of consumption, giving a generally very positive consumer climate. According to official figures from the retail trade, the relevant purchasing power of Istanbul is approximately €1,600 for each inhabitant. However the shadow economy estimated to be at least 40% of the overall economic achievement, considering that actual purchasing power would be clearly higher than this figure.

According to the International Direct Investment FDI inflow, Turkey was 5th amongst the highest FDI attracting emerging markets in 2006 after China, Hong Kong, Singapore and Russia. The FDI inflow from European countries to Turkey made up 74% of the total FDI inflow to Turkey. The direct investment of European investors jumped to $14.7bn in 2006, up from $6.6bn in 2005.

This growth has driven most investors to pay higher prices for projects. The acquisition of Istanbul’s Cevahir Mall - Europe’s largest shopping centre - in 2005 was perhaps the most significant indication of the growing institutional acceptability of real estate investment in Turkey. London-based international property investment, development and asset management companies financed this acquisition with €384m, the biggest loan ever put in place for Turkish real estate. The fund was arranged by the syndication of several banks specifically for this acquisition, showing a considerable amount of faith in the country’s investment value.

Corio NV, a Dutch origin property investment company, is working on up to an additional 10 shopping centre projects located throughout Turkey. Combined, these centres are worth $1.5 billion. Corio NV’s 2007 acquisition portfolio totalled €139 million throughout various areas of Turkey - proving investors’ confidence in retail demand, boosted by rising purchasing power as well as the lack of supply of organised modern retail facilities in these markets. The future plans of the company involve having a total of 16 projects by 2010.

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If you are in the construction business it is most important to know the function of the regulating authority in the process of construction. Even if you are common man, then it is also important for you to know the newly construction is built near your house is legally sanctioned or not. However there is an established procedure that needs to be followed before starting any construction project.

There is an authority to look after and sanction all the project of a particular place. The authority is simply known as Authority Having Jurisdiction. Though the system varies from country to country, but in most cases the government agency that looks after this is the local municipal authority. If you are associated with the business of construction or any particular project, you must classify that the municipality sanctions the project or not.

In the construction of a particular project the municipal authority has a grater role to play. The authority will review the place, the plan and its impact on the environment. If the project is approved the authority will see detail of the architectural and civil plan. The building department of the municipal will see if the building is built following the building code. Before starting your project you must see all the process has been properly completed. You have to follow all the safety code while building s particular project. You have to provide all the essential services like electricity, water, sewage, phone, cable etc. to the people who are associated with the project. The safety code of the fire must be taken care of. If you want to expand the existing building you have to take the permission of the municipal authority.

Stephen is the Webmaster @ http://www.contractor.us - The Free American Contractors Network. Submission to the Local Contractors is free.

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The history of structural engineering was one of trial and error. Knowledge and understanding, what there was of it, was passed down from generation to generation. Today, structural engineering standards are written down, and in great detail.

One way to understand structural engineering standards is to think of a mountain of paperwork. There are codes and standards that cover almost every eventuality; fire codes, building codes, electric codes, local codes, regional codes, and national codes. There are safety codes. All of these codes establish minimum standards for construction and it is the responsibility of the structural engineer to comply with them all while at the same time actually building or designing a structure that does not require the emptying of the vaults of Fort Knox to pay for it.

This can be a daunting task for the structural engineer. The architect is given a bit more artistic leeway in design. They dream things up and say this is how it should be, but the structural engineer does not have the luxury of dreams. Their world is a practical world of what will work and what will not work. The engineer can rely on the codes, in many cases, to support his arguments because if a structure is not in compliance with them, it can not be built.

All structural engineering standards do not come from the law makers, however. The SEI, which is a community of structural engineers in the American Society of Civil Engineers, and the international Institute of Structural Engineers with members in 105 countries, have also helped establish standards. The structural engineering field has accepted its responsibilities as it attempts to create structures that are practical and above all safe for the humans that will use them and even live or work inside them.

The Green movement has begun to influence the structural engineering community to some degree. The need for structures that are in harmony with the environment has become an area of increasing awareness to designers. It can be expected that these environmental friendly standards will find their way into the codes and laws in the coming years and structural engineers will have to be aware of them.

The need to adhere to the standards of structural engineering is more than just a need to stay within rigid codes. There is an ethical responsibility when ever a structure is being designed to hold the value of human life higher than cutting of costs or meeting of time schedules. In most engineering programs being taught in Universities today, ethics is a required course.

Aazdak Alisimo writes about structural engineering for ProStructuralEngineers.com where you can find a directory of structural engineers across the country.

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