Statements inspiring the housing sector

Zeray Chairman of the Board Zeki Zeray, who made evaluations regarding the latest developments in the real estate sector, stated, ‘In Turkey, the real estate sector has never experienced such an intense need for housing as in the last 30 years. Although this situation presents a serious opportunity and advantage for investors, it does not provide benefits for society. We regularly share our views and evaluations with the relevant units of the Central Bank Monetary Policy Institution about the real estate sector in the analysis meetings we hold at regular intervals. To elaborate, the difference between inflation in our country and the increase in construction costs and company analyses that I shared there is significant.’
Zeki Zeray, Chairman of the Zeray Board, provided important information about the recent developments in the real estate sector. Evaluating sustainability strategies, Zeray stated, ‘Zeray’s sustainability certificate and report have been prepared, and we will publish them in the near future. The main goal in this report is to make our company an example to our industry and to extend its lifespan longer than that of us individuals. There are cities, legacies built by people who are not alive in the world. We are responsible for taking the construction sector in Turkey to the peak it deserves in every aspect. To delve into details, I believe in the necessity of managing each project, inspired by the principle ‘stand by your head’ from my elders, dissected for thorough evaluation in terms of developing artistic living spaces, and this is not an issue that can be managed only within the framework of plans and programs.’
‘Increases up to 400% are seen between the beginning and end of the project.’ Speaking about the current situation in the sector, Zeray said, ‘In Turkey, the real estate sector has never experienced such an intense need for housing as in the last 30 years. Although this situation presents a serious opportunity and advantage for investors, it does not provide benefits for society. We regularly share our views and evaluations with the relevant units of the Central Bank Monetary Policy Institution about the real estate sector in the analysis meetings we hold at regular intervals. To elaborate, the difference between inflation in our country and the increase in construction costs and company analyses that I shared there is significant. The main reason for this more than doubled difference is the significant increase in labor costs, up to 4 times the normal, due to the dispersal of the workforce in the sector during the 2018 crisis, the urgent need in the region following the recent earthquake disaster, and the intensification of construction despite the urgent need, resulting in increasing labor costs. In addition, as seen in the rental increases in real estate, with the increase in demand, decrease in supply, and as a result, there are increases of up to 400% between the beginning and end of a project. This increase is not seen in any secure financial or investment instrument.’
‘We always valued our customer base who share in our profits.’ Describing the results of competitor analyses they conducted, Zeray said, ‘There are companies producing housing in many regions of our country, and these companies start their sales when their products reach the saturation point in terms of price after completing their production. One of the most important differences that sets us apart is the pride of making our investors profitable. In our establishment processes, we used to make production plans based on sales when we needed capital. Additionally, our customer base also used to profit with us. We always valued our customer base who share in our profits. I can say that we take pride in seeing their gains as our shared gains. While we are aware of the profitability of accelerating sales after completing our productions, we never restricted the opportunities we offered to our customers for the sake of higher profits. Sometimes, we always adopted customer-oriented approaches in general in situations such as offering any opportunity to a customer, special campaigns for a project, and similar cases. The fact that we have implemented a down payment campaign of 250 thousand lira specifically for our Ankara projects, and even offering the advantage of renting while payments are still ongoing in our projects ready for delivery, is the main indicator of these approaches. Because we are going public. With a single gong sound, we will bring the biggest returns of these gains we have offered to our investors to the entire Zeray family.’
‘We will continue to grow and expand.’ Emphasizing that the implemented credit restrictions and similar factors cannot prevent price increases, Zeray said, ‘We would prefer the support of supply instead of restrictions. Providing suitable competition conditions and opportunities is one of the most important gains for economic management. Housing, which is one of the main responsibilities of the social state, can meet expectations only under the most suitable competition conditions in our country’s dynamics. Because we say that real estate is also a locomotive investment instrument. By providing accessible opportunities for real estate investment, which is the dream of every individual formed by our societal consciousness, there will be a clear increase in restrained supply in the near future. At that time, we will be among the leading firms in meeting the demand with our always alive stocks just like in the past. Our stakeholders who have been with us in the past periods know our experiences well. This is also a form of solidarity. With this determination, we will undoubtedly continue to grow and expand. Within our nationalized structure, we have developed special methods for each period, gaining our freedom and unique structure with a great passion. With the collective consciousness of century-old institutions in developed countries, we see development as an endless adventure at an international, even universal level.’
‘We are developing new norms in the sector.’ Talking about his future goals, Zeki Zeray said, ‘I see investing in our country’s future by taking pioneering roles in different sectors with sustainable planning as our future. Especially, as I witness the reality of all the plans and programs I have expressed, and as we find witnesses by our side, my excitement, our excitement increases many times over. The Zeray family is growing and we are developing new norms in the real estate sector. As a result of this, you will witness an expansion, especially after our public offering. Our resistance point against construction we find difficult to overcome and even against structural problems is at the peak of normal. I can say that this sensitivity is our greatest strength and challenge. Zeray will continue to grow and develop with enthusiasm, order, and discipline as always, achieving growth rates like 14,000% in 10 years with love just like in the past. In 2021, we have already exceeded our goals in our 5-year strategic plans decided by our board of directors in the third year. Matching our goals is the result of the sacred efforts of our colleagues who work with great passion. You can ask how they keep this secret in one of our offices if you meet anyone representing me. Personally, I do not want to speak on their behalf, but I can say that the secret of Zeray passes through the concept of trust in a single word. When you move forward with faith and determination, your reliability towards yourself and your surroundings naturally emerges.’
‘We devote our energy to our work.’ Emphasizing that they are open to criticism and suggestions, Zeray said, ‘Of course, we carry situations that are difficult to understand until we witness them firsthand. Our success indicators are above the ordinary and the seen. Therefore, we can encounter perceptions that try to devalue our success story with accusations because they cannot comprehend it, with extraordinary assumptions. Despite being on the right side every time we face these situations we have experienced since our first day, and maybe we will continue to face them. We will not give up doing the work we know is right and believe in. We devote all our energy to our work. In this journey where we compete with ourselves, we believe that the value needs to be redefined. Of course, we hear our surroundings, but as I mentioned, behind every example/idol-worthy success, dimensions can develop to this extent. The only thing I want to share is that you can discover our accessible side. Those who want to get to know Zeray can find us in our sales offices in many locations around them or at worst, a phone call away, and can offer their criticisms or suggestions in a coffee chat.’
‘We are proud of the brand value we have achieved.’ Stating that they are trying to achieve national goals in a region with strong local perceptions and cultural dynamics, Zeray said, ‘Our main point where we have the opportunity to express ourselves is our projects that bear artistic meanings. Our expectation is to be remembered with the successes we achieve with the structures we produce. Accordingly, we see our reactions in the face of developing situations as part of our development by incorporating them into the process. I also want to express that we are accepted by the people of Kocaeli, especially in the regions where we develop projects, and we are seen as a local company. I think that we are proud of the brand value we have achieved. Our risk is at a secure level for our sector, around 2.14% in the face of our assets. Our secure structure distinguishes us in a different dimension from companies that only focus on real estate production among our competitors.’
‘We offer a new opportunity to real estate investors.’ Providing recommendations to investors, Zeray said, ‘With our spring campaign that we have launched, we are offering a new opportunity with payment plans of up to 60 months below the credit rates of financial institutions within our structure up to 100% in contrast to credit restrictions of up to 10% especially for those who have second homes. Those who experience delays, whether due to their own circumstances or because they do not realize the importance in their investment plans, should definitely convert their savings into investments in high value-added brand projects like Zeray, whether for substitution or investment purposes. In line with our government’s medium-term economic program, it will be inevitable to take steps towards decreasing interest rates and easing financial restrictions parallel to the trend of decreasing inflation. However, those who find profitable investment opportunities today against the limited stock that will be exhibited on that day will gradually turn their investments into a unique profit dimension by also taking into account the demand inflation in real estate resulting from the fact that supply will already be limited in the future due to potential economic conditions.’