Why is Egypt building a new capital?

According to estimates, more than 21 million people live in Cairo.

The government and President Abd al-Fattah as-Sisi have decided to rebuild Cairo. To this end, for example, the first houseboats, which were typical for Cairo, are currently disappearing. No small boats, full two, rarely even three stories. The city, which has grown over thousands of years, will never again exist as it is today.

As reported by Wirtschaftswoche, “with strong help from China”. The first construction work began in 2015.

But, why is Egypt planning to build a new capital?

The population here will double in the next 40 years. There are currently 21 million people in the metropolitan region, and in the future there will be up to 40 million. The city is designed to address Egypt’s various problems while offering a special quality of life.

We connected the new capital through:

• Airport: “New Capital Airport
• Streets: Suez Road and Mohamed Bin Zayed Axis

What is the name of the new capital of Egypt?

So far, the new capital has no name. It is still referred to as the “New Administrative Capital.

When the capital is finished, it will be reminiscent of mega-cities like (here) Dubai.

Live view from space

Here are the latest available satellite images from Google Maps.

View of the construction area:

Emergence in the desert: construction site XXL

Construction started in the middle of the desert in 2015. Since then, the city is rapidly taking shape and features.

Before / After: Skyscrapers in the sand

This gigantic megaproject in Egypt costs a whole 58 billion dollars.

Financial check

Financial Check: Saving – Who would like to save money should not start for it with things like clothes or the like. No, who would like to save correctly should do that with the finances! We have compiled a few tips for you with which it will certainly be easy for you to save more money in the future. The goal when it comes to saving money is always “Save like the Swabians”. So that you achieve exactly that, we have many different tips on dealing with your finances together. Even if you try to follow only 1 tip, you will notice changes.

• Finance Check: Save on loans, taxes, accounts and credit cards

Save in everyday life

Save money in everyday life – In this day and age, many things are becoming more and more expensive. For this reason, it is important to know how to save money properly and where it is really worth it. You don’t always have to make a specific plan to save money. Even small changes in everyday life like using different light bulbs, using services of trainees or other things can already contribute a big part to minimize the expenses.

• Save money in everyday life: Heating, clothing, light and teeth – 14 tips

Checklists: Save on subscriptions, shopping, household, electricity & Co.

We also have many individual areas where a lot of money can easily be saved. Every week, every month, so that a solid financial basis is getting closer and closer:

• Save subscriptions
• Save Shopping
• Save Driving
• Save free time
• Saving budget
• Save Travel
• Save electricity
• Save relocation

Subscriptions

Saving money through subscriptions is a nice option. But taking out a subscription is not always the right choice. In this article you will learn when a subscription is worthwhile and in which areas a subscription could be useful. A subscription is an agreement to purchase certain services for a longer period of time at a reduced price. These include not only gym memberships or the purchase of newspapers, but also the purchase of tickets, TV connections or music services. The purpose of subscriptions is to enable people to obtain certain services on a regular basis for a fee.

• Subscription: Insurance, comparison, mobile phone & trial subscription – How to save properly

Shopping

When you hear the word shopping, you probably think of spending money instead of saving money. If shopping is still a big passion of yours and you want to learn how to save money, you should read each of our tips carefully. Buying used, bargaining, visiting outlets or making shopping lists are just a few of the ways we want to introduce you to. Shopping is one of the most important consumer goods for people. It is now no longer just about necessary purchases like food or clothes, but nowadays you can also go shopping to pass the time. The tips on how and where to save money on shopping have been recorded for you below.

• Shopping tips: hire purchase, discounts and 10-minute rule

Driving

You think there is no alternative to leaving your car at home, except using public transport? Wrong guess. This article proves you wrong and provides 18 other options. Besides public transportation, you can walk, bike, carpool, or compare gas prices. If you want to save money on transportation, you don’t have to use public transportation directly. Of course, these are a cheaper alternative to the car, but in the following we have collected a few tips on how you can save money not only by giving up the car, but also the car itself.

• Save money: Cheap travel by car, taxi and bike

Free time

Free time is an important part of a person’s life. You are not only free from any obligations, but you also have the opportunity to shape them as you want. There is a whole range of leisure activities but they are anything but easy on the wallet. Those who do not know how to spend their free time without spending a lot of money should have a look at the following suggestions. You not only have the opportunity to make new contacts, but you can also make new experiences. So it does not always have to be an expensive hobby that you pursue in his spare time, there are also a lot of cheaper or even free alternatives.

• Save money on leisure: Free events, movie nights and gift ideas – Tips

Budget

Saving money in the household – government grants, appliance use, environmentally conscious laundry, or waste separation. No matter in which household area: You can save a lot of money everywhere. We show you how, where and when you can save money and thus increase your wealth. You can just as easily save money in everyday life, at home, when shopping or in your leisure time. Your tax advisor will also be happy to help you save on your taxes.

Travel

It is always a nice thing to travel. Due to the fact that it is rather the rarer case that one travels monthly, it is often an exception when going on vacation. And although or just because it is an exception, you often spend a lot of money on many, often unnecessary, things just on vacation. For this reason, we have compiled a few important tips for you below, with which you can save money not only before your upcoming vacation, but also on vacation itself. 14 practical experiences from everyday life, especially for young families and people, with less budget. After all, it’s not about the money, it’s about the people you have with you, the experiences and the adventure, it doesn’t take much!

• Saving on travel: Hotels, flight bookings, food & Co. – 14 tips for your holidays

Power

Saving electricity is becoming increasingly important. Energy consumption in particular is responsible for high costs. If prices continue to rise, then it is always worth taking a closer look at the large energy consumption. Of course, a lot of money can be saved by changing the electricity provider, but you can also do a lot in everyday life, so that the electricity bill lowers. If you want to avoid high electricity costs, here are the most important tips at a glance! How to save electricity and money.

• Electricity comparison: Save electricity, time & money – The biggest energy consumers in the household

Move

The next move is coming up, whether you’re moving for the first time or you’ve already moved a few times, each time presents new challenges. There are a few organizational basics that will help you quickly and easily organize the move. In a direct price comparison with moving companies, it is worth moving on your own, which can save you money. How to organize your move, our guideline.

• Moving Checklist: Move, Schedule & Pack – Save Time and Money

Wealth building: Real estate, stocks, cryptocurrency … ?!

When does it make sense to start building wealth through strategically intelligent investment? At 20, 30, 40 or even at 50? Is there a simple formula or tips for investing with good returns? What about risk, depending on the type of investment? Here’s an in-depth look at wealth building, for beginners. Without equity and with little equity. From the principle of effective trading (saving), calculation examples, investment impulses and first tips.

Long-term wealth accumulation does not start when assets are needed in a timely manner. That means, for example, shortly before retirement or shortly before a decision when money “must” be spent. For example at the end of the year or if it concerns larger investments, also before elections, for example the federal election (up-to-date with donation / WEG establishment). But – we want to stay at the very beginning.

• Wealth building: Real estate, stocks, cryptocurrency … ?! Capital accumulation with 20, 30, 40 years – tips

Turkey: Economy and State

Investor infrastructure, political development, inflation & co. A comprehensive look at Turkey as an investment destination.

In summary: Istanbul in numbers

• Total number of home sales in Turkey between 2013 and 2018: 8 million.
• Total housing stock in Turkey in 2018: 34.2 million.
• Total number of house sales to foreigners in Turkey between 2013 and 2018: 134,000
• Class A office supply in Istanbul in 2019: 5.7 million square meters
• Active gross leasable area in shopping malls across Turkey in 2019: 14.5 million square meters
• Total logistics real estate stock in Istanbul in 2019: 4 million square meters

Source: Investment Office of the Presidency of the Republic of Turkey

Infrastructure: airports, railways, bridges

If you invest in Istanbul, you’ll be in the city in no time. Turkey has been investing large sums in the development of its infrastructure for a long time. In the years around 1990 to 2000, many new airports were built in the country. In 2010, there were 99 active airports in Turkey.

Investments in the road and aviation sectors will continue in the coming decades, as can be seen above from the large investments. According to the Ministry of Transport, it appears that the Erdoğan government will rebalance its policies in the infrastructure sector and build at least 10,000 kilometers of high-speed rail lines.

Chinese companies in particular are helping to finance the projects. Double-track railways between Ankara and Istanbul and between Ankara and Konya are currently under construction.

Of great importance in the infrastructure sector, Istanbul has become an “infinite city” where not even the construction of a third bridge connecting Europe and Asia will solve the complex traffic problem.

The infrastructure is certainly needed, after all, the Turkish state is growing continuously.

Population: Forecast 2024

Stability also often lies in the reproduction of the population. This is where the intergenerational contract kicks in. Here you can see the total Turkish population from 1980 to 2018 and forecasts until 2024 (in millions of inhabitants).

You can find more statistics at Statista

Political development: party and leadership

Turkey is a constitutionally secular republic. Actually. President Recep Tayyip Erdogan’s Justice and Development Party (AKP) has pushed an Islamist agenda and eroded democracy piece by piece.

Erdogan further consolidated his power after the 2018 elections, allowing an AKP coalition with the Nationalist Action Party to retain control of the unicameral National Assembly. While Erdogan won a narrow victory for a second four-year term as president.

25 percent still work in agriculture

Turkey’s largely market-based and diversified economy is driven by its industrial and service sectors, but traditional agriculture still accounts for about 25 percent of employment.

Although the economy has proven resilient in the past, political instability has blocked necessary reforms, and a currency crisis and recession in 2018 have put the country under severe pressure. The resilience of the Turkish economy is due to sound public finances, well-capitalized banks, and a dynamic and diversified private sector.

Until 2018, economic growth was pretty much always stable. Until a currency and debt crisis plunged the economy into recession.

Inflation rate: Forecast 2021

Inflation rate from 1980 to 2019 and forecasts to 2021 (year-on-year).

Reforms: Labour market and justice

The economy thus requires reforms to make the labor market more competitive. More urgently, the government will need to strengthen the effectiveness of the judiciary and the fight against corruption, both of which were damaged after the crackdown following the 2016 coup attempt. The event also caused major waves in Germany.

The most famous case is probably the arrest and imprisonment of journalist Deniz Yücel. But the Jan Böhmermann case also made headlines, due to “lese majeste”, a remnant in the German legal code that has since been abolished by the case.

Unemployment rate

Unemployment rate from 1980 to 2018 and forecasts to 2021:

Rating: Fragile States Index (FSI)

Assessment according to the Fragile States Index (FSI) from 2010 to 2020.

You can find more statistics at Statista

International market position & growth

Turkey’s largely free market economy is driven by industry and increasingly by the service sector, although the traditional agricultural sector still accounts for about 25% of employment, as described earlier.

Out of 137 countries covered in the 2017-2018 Global Competitiveness Index, Turkey ranked 53rd, down two places from 2016-2017 but still higher than the historic low of 43rd in 2012.

The depreciation of the lira in 2017 helped Turkish exports, and the government stimulated domestic demand by strengthening monetary and fiscal policy.

The government is playing a more active role in some strategic sectors and has used economic institutions and regulators to target political opponents, undermining private sector confidence in the judicial system.

Credit rating: reduction by rating agencies

Between July 2016 and March 2017, three rating agencies downgraded Turkey’s sovereign credit rating, citing concerns about the rule of law and the pace of economic reforms.

Economic impact of the crisis

German-Turkish trade relations

GDP (Gross Domestic Product): Current

What do the latest figures from the Turkish Statistical Office tell us?

The growth rate deteriorated in 2018, but the 2019 figures also give pause for thought. Data released in March 2019 from the statistics office show the effects are carrying over. After a sharp contraction in the previous quarter, which was 3%, as value added fell by 8.7% in the construction sector, 6.4% in industry, 0.5% in agriculture and 0.3% in services.

Gross Domestic Product (GDP) fell from $851.5 billion in 2017 to $784.1 billion in 2018. In the fourth quarter of 2018, GDP was $184.9 billion, which is the lowest amount since the first quarter of 2017, when it reached $175.9 billion, while GDP per capita at current value in 2018 was about $960,000 dollars.

GDP forecast 2024

Gross domestic product (GDP) in current prices from 1980 to 2018 and projections to 2024 (in billions of US dollars).

Here you can see real gross domestic product (GDP) growth from 1980 to 2019 and forecasts to 2021 (year-over-year).

GDP per capita: real growth for inhabitants

GDP is a top indicator of the overall economy, but what do individual residents get out of it? Is GDP per capita rising or falling? Here you can see the gross domestic product (GDP) per capita in current prices from 1980 to 2018 and forecasts to 2024 (in US dollars).

Factor: Tourism

Agriculture, industry, services, all important sectors of Turkey. Looking at the country as a whole, one sector in particular stands out, tourism. Already a large part of Turkey’s GDP. But by 2028, Turkey should be able to increasingly detach itself from tourism, as seen here. This is the evolution of the direct and total contribution of the Turkish tourism sector to GDP from 2012 to 2028 (in billions of euros).

• 2012: 35,54 %
• 2018: 32,78 %
• 2028: 33,14 %

Investing in real estate: Prices

While you can buy only 16 m² for 1 million in Monaco, 25 m² in New York and 28 m² in London, as an investor you get 98 m² for the same price in Istanbul. In comparison, you would currently get 77 m² in Berlin. Let’s start with the most important fact: What do I get for my money?

Square meter price

Here you can see the current prices per square meter worldwide. The big question is how much living space do you get, exemplified by $1,000,000. Similar to the “Big Mac Index”, this calculation is good to compare the different cities.

For $1 million, you get:

• Monaco – 16 m²
• New York – 25 m²
• London – 28 m²
• Berlin – 77 m²
• Istanbul – 98 m²

Turkey on top in financial support

70% of property owners in Turkey have received help with property financing. Here you can see the percentage of property owners who received financial assistance in selected countries around the world in 2012.

You can find more statistics at Statista

Price levels in comparison: living in the city

How cheap or expensive is living in Istanbul? Compared to the other metropolises, you can quickly see that life in Istanbul is relatively cheap at only 66.3 points. In Germany, the price level is currently 73.8 (Munich) and 72.6 (Frankfurt). Price level in the world’s most important metropolises (in points):

• Oslo 103.0
• Zurich – 100.0
• Tokyo – 83.4
• New York – 74.1
• London – 73.9
• Istanbul – 66.3

New investments! View real estate now

İyi günler – Here are our new objects that you can invest in now:

Istanbul, 41250: Villa in Kartepe

1,810 SqFt Cardpe

• Property: Istanbul, 41250: Villa in Kartepe

Istanbul, 34530: Penthouse Loft in Kumburgaz

2,970 SqFt Kumburgaz – $570,000

• Property: Istanbul, 34530: Penthouse Loft in Kumburgaz