In March 2008, Unicorn successfully closed capital raising for Turquoise Coast Investment Company, a real estate investment company established to provide investors with an opportunity to benefit from the thriving vacation homes market on Turkey’s Aegean Coast. The company will invest in vacation homes developments that are currently being planned on the Bodrum Peninsula.
Turquoise Coast Investment Company allows investors to capitalize on the strong demand for vacation homes in Turkey, which is emerging as one of the fastest growing markets for international buyers seeking either a holiday home or an attractive real estate investment abroad. The demand growth has been fuelled by a number of different factors, which include attractive pricing relative to other Mediterranean markets, the recent introduction of mortgage products targeted at foreign buyers and growth in direct international flight routes.
In recent years, the Bodrum Peninsula has emerged as the most high profile coastal tourism and vacation homes destination in Turkey due to year-round pleasant weather, a peaceful and tranquil atmosphere and excellent infrastructure facilities including a well served international airport. This has resulted in a strong real estate market and attractive rental yields. Furthermore, the development sites identified by the Company are ideally situated in prime locations along the coast and target a range of buyer segments, from medium priced units to luxury homes geared towards the higher end of the market.