1. La NovaS a p a n c a V i l l a s
SANTRAL PAZARLAMA DIŞ TİC. VE
İNŞAAT SAN. LTD. ŞTİ.
Şair Nigar Sok. No. 72/ 3 - 4 Osmanbey
34363 / Şişli / İstanbul - Türkiye
T: +90 212 234 07 77
F: +90 212 232 36 75
E. info@santral-group.com
www.santral-group.com
2. indexOVERVIEW VI
MACRO ECONOMIC DATA 1
GROWTH IN REAL ESTATE INDUSTRY 3
HOUSING PRICE INDEX IN TURKEY 5
TOTAL HOUSE SALES IN TURKEY 6
TOTAL HOUSE SALES TO FOREIGNER 7
HOUSING PRICE INDEX IN SAKARYA 9
TOTAL HOUSE SALES IN SAKARYA 10
TOTAL HOUSE SALES TO FOREIGNER IN SAKARYA 11
SAPANCA 14
SAPANCA’S LOCATION 17
FEASIBILITY of KURTKOY PROJECT 26
LA NOVA 32
EXTERIOR VIEW 33
INTERIOR DESIGN VIEW 37
Villa Plans 39
General Plan 41
VI
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3
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6
7
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11
14
17
26
32
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41
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Santral-Group
Since its establishment, Santral Group aims at preserving its values by committing to its clients,
by working hard to serve them in order to achieve their goals and desires with high quality
standards and by respecting their requirements. Thus, we gained their trust and satisfaction
with God's blessing. Our permanent presence in Turkey and the Middle East allowed us to
closely observe the job opportunities, business and investment which was the key to our
success and expansion with time. This increased our sense of responsibility and commitment
to develop trade between the Arab world and Turkey. Based on the experience we acquired
for 25 years in the Arab and Turkish markets, the group gained the trust of the companies,
investors, businessmen and people looking for investments and agencies. Since the beginning,
our plans were to guide the businessman in the right way to reach the right sources in the
markets. We believe that we are not the only ones in the market but we aim at being the best.
Last but not least, we are proud to have served the Arab tradesman, businessman and
investor for the past 25 years in the Turkish markets and we are very positive concerning the
future. We expect to increase our presence in the Arab markets in the coming years and
preserve the good reputation of the company specially that it is one of the oldest Arab
companies in Turkey.
President of the Board of Directors,
Gazwan Messri
www.santral-group.com
5. As Turkey maintains its growing and stable economy with its progress in the last 15 years, reforms and experiences
as well , thanks to its international expansion policies and strategies practiced in the global crisis, geographical locations,
demographic factors, infrastructure, production and employment potential, strategic attitude and also its huge projects
such as the third bridge, the third airport and Canal İstanbul Project. Also it offers important opportunities for international
investors to make investments in Turkey.
Turkey has separated positively from the other countries in terms of macro economic data. It is among the first three
countries which have been making the greatest progresses in recent years when GDP growth rates are compared.
When compared to Europe, it is not surprising that Turkey is one of the leading countries in investment as it is a safe
harbour and besides, has a clear legal framework.
MACRO
ECONOMIC DATA
1 2
Chart 2 – Grows Rate of GDP, Real Estate and Construction
(TurkStat 2015)
6. GROWTH IN REAL
ESTATE INDUSTRY
Turkey reaches these promising growth figures, construction sector has received lion’s share and in recent years
Turkey’s economy has grown resulting from investments in construction sector, opportunities and developments in the
field.
Analyzing Turkey’s GDP growth rate, indicator of the development of construction and real estate sectors of Turkey,
one can easily see the real estate sector has been the least affected industry with 4.4% in the aftermath of global crisis in
2008.
The fact that construction sector and real estate sector have made more progress than GDP growth rate in 2003,
clearly indicates a growth on construction and real estate investments.
When sector shares of construction sector and real estate industry are compared to GDP, it is also seen real estate
industry increased in line with GDP even in global crisis period which affected the whole world in 2008.
It is seen that this increase stems from the fact that investors trust more in real estate investments and consumer
confidence index of the sector is optimistic.
3
Chart 2 – Grows Rate of GDP, Real Estate and Construction (TurkStat 2015
Chart 3 – Sectore Share of Construction and Real Estate (TurkStat 2015)
4
7. As seen from the Chart 4 there is an increasing tendency in demand for houses that steadily pushes the
price index upwards last years.
HOUSING PRICE
INDEX IN TURKEY
Chart 4 - Turkey Housing Price Index (CBRT 2015)
Total house sales in Turkey have shown
172.8% increase rate from 2008 to 2014 and
29.9% increase rate even after global crisis in
2009.
In 2012 and 2013, total house sales in
Turkey has increased to 1,157,190 from 701,621
with 64.9% increase rate, even there was an
economic crisis in Europe. As consequences
investors coming from Gulf, Middle East and
Europe preferred Turkey and real estate industry.
Total house sales in Turkey have shown
172.8% increase rate from 2008 to 2014 and
29.9% increase rate even after global crisis in
2009.
In 2012 and 2013, total house sales in
Turkey has increased to 1,157,190 from 701,621
with 64.9% increase rate, even there was an
economic crisis in Europe. As consequences
investors coming from Gulf, Middle East and
Europe preferred Turkey and real estate industry.
TOTAL HOUSE
SALES IN TURKEY
5 6
Chart 3 – Sectore Share of Construction and Real Estate (TurkStat 2015)
8. Chart 7 - House Sales Numbers to Foreigner in 2013 (TurkStat 2015) Chart 8 - House Sales Number to Foreigners in 2014 (TurkStat 2015)
7 8
The total number of property sales to foreigners across Turkey has increased by 55.6% from 2013 to 2014 and reached
18.959 from 12.181.
Sakarya has been the most progressive city in the number of property sales to foreigners between 2013 and 2014
which has risen to 8th position from 10th .
Other cities which made progress have been Bursa, rising to 5th position from 6th and Trabzon, rising to 10th position
TOTAL HOUSE SALES
TO FOREIGNER
Distribution of property sales by cities are seen in Charts 7 and 8. The cities which have the most foreign-owned
houses in 2013 were relatively;
1. Antalya
2. Istanbul
3. Aydın
4. Mugla
5. Mersin
6. Bursa
7. Yalova
8. Izmir
9. Ankara
10. Sakarya
While in 2014, it has been;
1. Antalya
2. Istanbul
3. Aydın
4. Mugla
5. Bursa
6. Mersin
7. Yalova
8. Sakarya
12 181
Sales
(2013)18 959
Sales
(2014)
Chart 6 – House Sales to Foreigners in Turkey (TurkStat 2015)
9. 9
Chart 10 – House Sales in Sakarya (TurkStat 2015)Chart 10 – House Sales in Sakarya (TurkStat 2015)
As seen from the Chart 9 there is an increasing tendency in demand for houses that steadily pushes the price
index upwards last years.
HOUSING PRICE
INDEX IN SAKARYA
Chart 4 - Turkey Housing Price Index (CBRT 2015)
Similar to the developments in total house sales throughout Turkey, house sales in Sakarya also reached to 19.441
from 3.113 with 524.5% increase from 2008 to 2014. While it increased by 50.9% in global crisis period, it also increased
by 118% in 2012 and 2013. As is seen in Chart 11 the ranking of house sales in Sakarya in sales throughout Turkey has
increased every year.
TOTAL HOUSE
SALES IN SAKARYA
10
10. When it comes to house sales to foreigners in Sakarya, the number reached to 512 in 2014 with 397% increase rate, which
were 103 in 2013. As is seen in Chart 13, it is observed that the ranking of house sales to foreigners in sales throughout
Turkey in January has increased. While Sakarya ranked as 10th in house sales to foreigners in Turkey in 2013, it ranked as
8th in 2014 and as 6th in January 2015.”
TOTAL HOUSE SALES TO
FOREIGNER IN SAKARYA
Chart 12 - Total House Sales to Foreigners in Sakarya (TurkStat 2015)
Chart 13 – Rank of House Sales to Foreigners in Sakarya (2013-2015) (TurkStat
11 12
12. Having hospitable people, viable climate,
touristic places, closeness to main centers,
easy transport access and hidden beauties,
Sapanca is an inviting place which is also
one of the rare points at which Ankara-
İstanbul high-speed trains stop. Besides,
it is an important center as an accessible
settlement next to E-6 highway.
15 16
13. Sapanca promises relaxing and oxygen-
filled days with its beautiful nature where
water, soil and forests exist together and
green embraces blue. A heaven in which
every season has its specific beauties
waits for you.
17 18
Sabiha Gökçen Airport :45 mins
Center of Istanbul :75 mins
Lake Abant :90 mins
SAPANCA’S LOCATION
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14. KUZULUK THERMAL SPRING
Being close to Sapanca, Lake Sunnet is a
lake and another picnic area formed as
a consequence of landslide in the forest.
Nature walk, handline fishing, picnic, various
activities in the lake and bicycle tours among
the activities you can do around the lake. It
is also possible to find traditional food in the
places near Lake Sunnet. Besides, some
salmon farms are located around the lake.
Having a splendid view and tranquility, Sapanca Lake is one
of the first places that come to the mind when someone talks
about Sapanca. One loses track of time when watching the
peaceful view of the lake. Various places around the lake offer
an opportunity to spend time with your family and bicycle tours
are held through which guests discover new beauties. Water ski,
wakeboard, kneeboard, catamaran, canoe and windsurfing are
among the sports which you can do in the lake. In addition to
these opportunities and natural beauties, the area in which Lake
Sapanca is located is also rich in cultural heritage. Tombs and
sepulchral monuments belonging to Byzantines, RUSTEM Pasa
Mosque, Rahime Sultan Mosque, Hasan Fehmi Pasa Mosque and
Cedid Mosque are located in the area.
LAKE SAPANCA
LAKE SUNNET
Being famous for its miraculous water, Kuzuluk
thermal springs is good for a range variety of
diseases from rheumatism to arthritis. You can
find many opportunities ranging from massage
to salt ponds in Kuzuluk. You can also benefit
from thermal pools, sauna and massage
around the hot springs which consists of two
separate parts as women and men.
KARTEPE
Being one of the most popular winter tourism
centers of Turkey with its facilities built on the height
of about 1500 meters, Kartepe is 24 km far away
from Sapanca. It is possible to go to Kartepe, an
important ski center, in 15 minutes. You can spend
time with ski, snowboard and horseback riding
while enjoying snow to the full.
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15. AKCAKOCA
MASUKIYE
Surrounded with Lake Sapanca, Sunnet and Abant,
Akcakoca has a large and beautiful beach located in
Black Sea shoreline which is 35-kilometer-long. Akcakoca is
127 kilometers from Sapanca which takes about one hour
and 33 minutes. Its 3-hour-distance to metropolitans such as
Ankara and İstanbul has made the sea and its neighborhood
a touristic place. Especially Cınar Street, which is closed to
traffic in summer nights, is one of the ideal places to spend a
joyous summer evening with your family. Merkez Mosque in
Akcakoca is worth seeing for having a different architecture
which reminds of Far East architecture.
Masukiye is the place of the lovers which
is 13km away from Sapanca. The place
is ideal for the passionate visitors who are
looking restful place for a nice breakfast
with a beautiful unforgettable green scene.
SABIHA GOKCEN AIRPORT
ADAPAZARI-İSTANBUL
HIGH-SPEED TRAIN
Adapazarı-İstanbul high-speed train was
introduced on January 5, 2015. Passengers, who
reside in Sapanca, can use Ada Ekspres trains
between Arifiye and Pendik. High-speed train from
Sapanca to Istanbul takes 1 hour and 10 minutes.
Ada Ekspres trains serve at Pendik, Gebze, İzmit ,
Sapanca and Arifiye stations.
It takes only 45 minutes from Sabiha Gökcen
International Airport in İstanbul to Sapanca. The
airport performs service on Asian Side and has
become famous for its increasing popularity.
İstanbul-Ankara highway interconnects with this
99-kilometer distance which is a pleasant distance
with beautiful nature and important city centers.
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16. Richmond Nua Wellness Spa is a hotel close
to Lake Sapanca with glorious view of forest
and lake. It has fully-equipped spa and
steam room. Rooms also have luxurious
balcony, TV and bathroom. You can enjoy
unique Turkish and world cuisine in chic
atmosphere of the hotel. Richmond Nua
Wellness Spa is one-hour away from İstanbul
by car and 100 kilometers away from Sabiha
Gökcen International Airport.
NG Sapanca Wellness & Convention
Richmond Nua Wellness Spa
Sapanca Hills Residence is designed for demands of times share
vacation customers. A mini shopping mall, spa & wellness, sport
centers along with social facilities, VIP services and Convention
& Wedding center are among the services you can benefit from
in the hotel. Construction of Sapanca Hills Residence project still
continues, which is located next to our Kurtköy Villa projec
Sapanca Hills Residence
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18. 27 2827
TEM Highway :5 mins
LAKE SAPANCA :6 mins
KURTKOY VILLA PROJECT’S
LOCATION
I. EXPENSE ACCOUNTS ANALYSIS
1. TOTAL SQUARE METER OF LAND AND BUILDING PERMIT RIGHTS (PRECEDENT)
a. 11270 SQUARE METER TOTAL LAND AREA
b. 9500 SQUARE METER NET LAND AFTER ABANDONMENT
c. 20 PERCENT BASED ON PRECEDENT TOTAL CONSTRUCTION SITE 1900 SQUARE METER
d. AREAS NOT INCLUDED IN THE PRECEDENT
- STAIRS
- BASEMENT
- ENTRY GARDEN
- COMMON AREAS
e. GROSS SQUARE METER AFTER ADDING AREAS OUT OF PRECEDENT
185 SQUARE METERS PER VILLA
2. CONSTRUCTION EXPENSES
a. 119.4 SQUARE METER ENTRY AND FIRST FLOOR
b. 44.8 SQUARE METER BASEMENT
c. 7,95 SQUARE METER GROUND FLOOR STAIRWELL
d. 5,38 SQUARE METER FIRST FLOOR STAIRWELL
e. 8 SQUARE METER BALCONY
3. COST CALCULATION
3-A CONSTRUCTION COST
a. 185 square meter gross (per villa)x 26 villas(13 twin villas)
b. 4.810 square meter (Gross) x 450$ = 2.164.500 $ ( Construction Site, common pool, social space, road and facilities)
c. TOTAL CONSTRUCTION COSTS = $2.164.500
3-B. COMMITMENT COST
Construction costs+ Commitment costs= 2.164.500 $+ % 20 Commitment Costs
i. 2.164.500 $ (Total Construction Costs)
ii. 432.900 $ (20% Commitment Costs)
iii. 2.597.400 $ (Total Cost After Commitment Costs (Construction costs+ Commitment costs))
3-C. TOTAL COST CALCULATION AFTER LAND COST
a. Construction + Commitment Cost =2.597.400 $
b. Land Cost =11.270m2x 350TL = 1.531.785 $ (with updated prices)*
c. Total Cost (Construction + Commitment+Land) = 4.129.185 $ (Total Cost)
3-D. COST CALCULATION PER VILLA
a. 26 villas 185 square meter gross use area
4.129.185 $ /26 villas= 158.814 $
19. 29 3029
II. INCOME ANALYSIS AND SCENARIOS
Scenario A
a. Each villa = 185 square meter (Gross)x 1.500 $ = 277.500 $
b. 277.500 $ x 26 villas= 7.410.000 $
c. Income after sale = 7.410.000 $
d. Profit Calculation = 7.410.000 $ -4.129.185 $= 3.280.815 $
e. Total Profit = 3.280.815 $
Scenario B
a. Each villa = 185 square meter (Gross)x 1.500 $ = 277.500 $ (First sales)
b. 277.500 $ x 13 villas= 3.705.000 $
c. Each villa = 185 square meter (Gross)x 2.000 $= 370.000 $ (Second sales)
d. 370.000 $ x 13 villas= 4.810.000 $
e. Income after sale = 3.705.000 $+ 4.810.000 $ = 8.515.000 $
f. Profit Calculation = 8.515.000$ - 4.129.185 $= 4.385.815 $
g. Total Profit = 4.385.815 $
Scenario C
a. Each villa = 185 square meter (Gross)x 2.000 $= 370.000 $
b. 370.000 $ x 26 villas= 9.620.000 $
c. Income after sale = 9.620.000 $
d. Profit Calculation = 9.620.000 $ -4.129.185 $= 5.490.815 $
e. Total Profit = 5.490.815 $
Scenario D
a. Each villa = 185 square meter (Gross)x 2.250 $= 416.250 $
b. 416.250 $ x 18 villas= 10.822.500 $
c. Income after sale = 10.822.500 $
d. Profit Calculation = 10.822.500 $ -4.129.185 $= 6.693.315 $
e. Total Profit = 6.693.315 $
III. PROJECT PROFITABILITY ANALYSIS*
SCENARIO A SCENARIO B SCENARIO C SCENARIO D
CONSTRUCTION COST
3.330 sq meter (Gross) x 450$ =
1.498.500 $
3.330 sq meter (Gross) x 450$ =
1.498.500 $
3.330 sq meter (Gross) x 450$ =
1.498.500 $
3.330 sq meter (Gross) x 450$ =
1.498.500 $
COMMITMENT COST (%20) 432.900 $ 432.900 $ 432.900 $ 432.900 $
LAND COST 1.531.785 $ 1.531.785 $ 1.531.785 $ 1.531.785 $
TOTAL COST 4.129.185 $ 4.129.185 $ 4.129.185 $ 4.129.185 $
VILLA SALES
185 sq meter (Gross)x 1.500 $ =
277.500 $
185 sq meter (Gross)x 1.500 $ = 277.500 $
185 m2 (Brüt)x 2.000$= 370.000$
185 sq meter (Gross)x 2.000 $= 370.000 $
185 sq meter (Gross)x 2.250 $=
416.250 $
NUMBER OF VILLAS 26 villas
(First Sales)
277.500 $ x 13 villas= 3.705.000$
(Second Sales)
370.000 $ x 13 villas= 4.810.000$
3.705.000 $+ 4.810.000 $ = 8.515.000 $
26 villas 26 villas
TOTAL INCOME 7.410.000 $ 8.515.000 $ 9.620.000 $ 10.822.500 $
TOTAL PROFIT
7.410.000 $ -4.129.185 $=
3.280.815 $
8.515.000 $ - 4.129.185 $= 4.385.815 $ 9.620.000 $ -4.129.185 $= 5.490.815 $
10.822.500 $ -4.129.185 $=
6.693.315 $
PROJECT PROFITABILITY RATE 50% 75% 100% 125%
24. VAZİYET PLANIVilla Plans
Living Room 25 m2
Servant Room 12 m2
Toilet Odası 1.5 m2
Store Room 3 m2
41.5 m2
TOTAL
BASEMENT
39 40
Parent's Bedroom 15 m2
Personal Toilet 2.1 m2
Balcony 3 m2
Bedroom 1 12 m2
Bedroom 2 12 m2
Toilet 2 2.1 m2
46.2 m2
TOTAL
FIRST FLOOR
Living Room 33 m2
Kitchen 15 m2
Toilet 2.1 m2
Guestroom 13 m2
Hall 2 m2
65.1 m2
TOTAL
GROUNDFLOOR
25. General Plan
41 4241
Sapanca adress:
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www.santral-group.com
La Nova Villas
