The entrepreneur Ramazan Bülbül started off in business when he was a child in Cizre. He has engaged in business in Kazakhstan since the 1990’s and his company RAMS Global, which he manages with his three sons, has completed projects in more than 55 countries. The company has now turned its attention to the revitalized real estate market in Turkey. Having completed a hospital and a residential project in Turkey, the company will be investing 250 million dollars in two residential projects this year.
RAMS Global, which has become one of the three largest real estate companies in Kazakhstan with over 55 projects implemented in the country, will accelerate its investments in Turkey, which it began in 2017. Founded in Gaziantep and operating primarily in construction, as well as in the healthcare, mining, and food sectors, the company has produced more than 12,000 homes to date in Almaty, which it has designated as its headquarters since 1995. Managed by Ramazan Bülbül and his sons Doğan, Devran, and Faruk Bülbül, the company aims to become a major player in Turkey's recently revitalized real estate market. Ramazan Bülbül, the founding president of the group, who told Turkish journalists the story of RAMS Global, stretching from Cizre to Almaty, at the group's headquarters in Kazakhstan, said that he started his business life in Cizre at a young age with border trade and later discovered the Kazakh market while exporting. Bülbül stated that the group has 4 million square meters of land stock for new projects in Kazakhstan, employs nearly 20,000 people in more than 10 cities, and currently has 13 construction sites in Kazakhstan.
GOAL TO BE AMONG THE TOP 5
RAMS Turkey's first investment in Turkey was with Gaziantep LIV Hospital in 2019, and its second project was Quattro Istanbul. While sales for the 576-unit project have been completed, the company has two ongoing projects: one in Istanbul's European side and the Mon Bleu project in Bodrum, which consists of 17 villas. In addition to Istanbul and Bodrum, RAMS Turkey is also investing in land in Serik, Antalya. The company's goal is to become one of the top five construction companies within the next five years.
ALLOCATED $1 BILLION TO MINING
Ramazan Bülbül noted that they have also invested in the mining sector in Kazakhstan, stating that they will invest up to $1 billion in phases in a factory that will extract metals such as zinc and silver and rank among the top five in the world in its field. One of RAMS Global's investments is Layan Green Park in Phuket. The company, which has set its sights on Germany and Dubai for the coming period, also has a 500-unit housing project in Russia. Bülbül stated that they had paused the project they started in Russia due to the war and that they also have land investments there. He pointed out that the Turkish real estate market has been very active recently. Bülbül said, “If we work like we do in Almaty, we can do well in Istanbul.”
UZEL FACTORY IS BEING CONVERTED INTO RESIDENTIAL PROPERTY
Bülbül stated that they have two finalized projects in Istanbul, namely the Efes land in Bahçelievler and the factory land of the bankrupt Uzel Traktör in Edirnekapı. Bülbül emphasized that they will invest $250 million in the two projects to be put up for sale this year. The company will also implement a project on the Kozyatağı Carrefour land in the Anatolian side. Bülbül also stated that they are in talks regarding the unfinished ‘Diamond of Istanbul’ project of Hattat Holding in Maslak, Istanbul, saying, “We will undertake very serious projects in Turkey in 2023. We have purchased land in Serik, Antalya. We also have projects in Istanbul and Bodrum.”
Homes are being built for $400,000.
RAMS Turkey CEO Devran Bülbül, noting the strong interest of foreigners in Turkey, said, “The limit for citizenship through real estate has been raised to $400,000. It will come into effect after June 12. Companies developing new projects are now setting the size of the homes to be $400,000. The market has turned to this.”
COUNTING THE OLD HOUSE AS A DOWN PAYMENT
In Kazakhstan, individuals purchasing a home under a new project can sell their old home or car to the company developing the project, thereby securing a down payment. Devran Bülbül stated that they plan to implement this model in Turkey as well, not for vehicles, but for those wishing to sell their old homes. Bülbül noted that they have implemented all investments with their own resources.
SOURCE: TÜRKİYE GAZETESİ
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