2007 and beyond under the new management presentation to investment community 25 january 2 our view of risks response real estate market in turkey strategy each sector residential commercial office industrial tourism partnership what we have offer expect agenda 3 4 turkish macroeconomic picture current account deficit is at a record high being financed by foreign investors lured interest rates are discouraging as result rate unemployment still relatively growth demand stunted assymmetry income distribution government s tax not growing dramatically may start sucking major chunk funds money was case before 2001 crisis sustainable direct investments can flee away quickly causing soaring fx general elections impose risk populist policies deteriorating public finances even worse 5
