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One Belt, One Road. China and Hong Kong Commit to Major Tourism City in Turkey

Chinese Hong Kong Turkey investment Bodrum Peninsula

Photo from Hurriyet Daily News

Seeking to re-activate the ancient Sino-Turkic Silk Road trade route,  China has signed and declared intent to invest  into 12 million square meters of land in the vicinity of the Dörttepe district, just 15 minutes from the Bodrum-Milas (BJV) international airport.  The deal will include the building of a min-city in conjunction with Turkish Ağaoğlu Construction Group.

The Chinese president Xi pledged a staggering 113 billion USD towards the project, with the aim of a massive  infrastructure network based on energy, transport, and tourism that will connect multiple Asian countries, with the final, intercontinental destination being Bodrum, Turkey.

A spokesman for Ağaoğlu said ”Chinese investors are looking for a direct route to Western countries. We are working on developing a tourist city concept that will attract the attention of tourists worldwide.”  He noted that the tourist city will include golf courses, hotels, residential units, villas, universities, schools, offices, commercial areas, exhibitions, Technopark centers, and a variety of recreational and health facilities. He added that the city will be the largest tourism city on the European continent, planning to provide tourism services throughout the months of the year, and will be a magnet for international and local investors.

Prime real estate bargains in Turkey,  relative to Paris and London,  are extremely attractive for Chinese and international investors, as are the climate, cultural and historical treasures.  Potential growth between China and Turkey has also resulted in Turkish Airlines recently doubling the number of flights between Istanbul and Shanghai.

Favoured local investment opportunities have been in the laid-back but quietly glitzy resort of Yalıkavak, as well as the international hotspot of Türkbükkü, as well as Bodrum city center.  Major international names including Swissotel, Paramount, Hilton, Kempinski, and LUX are continuing active investments all along the Bodrum peninsula.