Ezdan resort project
Contents
TOC o “1-3” h z u HYPERLINK l “_Toc384653468” 1Background on Ezdan Real Estate: PAGEREF _Toc384653468 h 5
HYPERLINK l “_Toc384653469” 2Company Objectives: PAGEREF _Toc384653469 h 5
HYPERLINK l “_Toc384653470” 3Background on the “Ezdan Resort” Project: PAGEREF _Toc384653470 h 6
HYPERLINK l “_Toc384653471” 4Natural Environment: PAGEREF _Toc384653471 h 7
HYPERLINK l “_Toc384653472” 51.5 Cultural Environment: PAGEREF _Toc384653472 h 8
HYPERLINK l “_Toc384653473” 6Economic Environment PAGEREF _Toc384653473 h 9
HYPERLINK l “_Toc384653474” 7Gross Domestic Product (GDP) PAGEREF _Toc384653474 h 9
HYPERLINK l “_Toc384653475” 8Gross National Income (GNI) PAGEREF _Toc384653475 h 9
HYPERLINK l “_Toc384653476” 9Purchasing Power of the Turkish PAGEREF _Toc384653476 h 10
HYPERLINK l “_Toc384653477” 10Income Tax Rate (Personal) PAGEREF _Toc384653477 h 11
HYPERLINK l “_Toc384653478” 11Corporate Tax Rate PAGEREF _Toc384653478 h 11
HYPERLINK l “_Toc384653479” 12Inflation Rate PAGEREF _Toc384653479 h 11
HYPERLINK l “_Toc384653480” 13Foreign Direct investment (FDI) PAGEREF _Toc384653480 h 12
HYPERLINK l “_Toc384653481” 14Consumer Price Index (CPI) PAGEREF _Toc384653481 h 13
HYPERLINK l “_Toc384653482” 15Interest rates PAGEREF _Toc384653482 h 13
HYPERLINK l “_Toc384653483” 16Official Exchange Rate PAGEREF _Toc384653483 h 14
HYPERLINK l “_Toc384653484” 17Free Trade Agreements PAGEREF _Toc384653484 h 15
HYPERLINK l “_Toc384653485” 18The Labor Force: PAGEREF _Toc384653485 h 15
HYPERLINK l “_Toc384653486” 19Political Environment PAGEREF _Toc384653486 h 17
HYPERLINK l “_Toc384653487” 20Legal Environment PAGEREF _Toc384653487 h 18
HYPERLINK l “_Toc384653488” 211.1.2 Copyright, intellectual property (IP) and Competitive Laws; PAGEREF _Toc384653488 h 18
HYPERLINK l “_Toc384653489” 221.1.3 Freedom of Pricing and Competition: PAGEREF _Toc384653489 h 19
HYPERLINK l “_Toc384653490” 231.1.4 Personal Data Protection Law PAGEREF _Toc384653490 h 21
HYPERLINK l “_Toc384653491” 241.1.5 Arbitration and Mediation PAGEREF _Toc384653491 h 21
HYPERLINK l “_Toc384653492” 251.1.6 Regulatory Issues and Ease of Doing Business: PAGEREF _Toc384653492 h 21
HYPERLINK l “_Toc384653493” 261.1.7 Perception of Corruption PAGEREF _Toc384653493 h 22
HYPERLINK l “_Toc384653494” 271.1.8 Freedom of Information PAGEREF _Toc384653494 h 22
HYPERLINK l “_Toc384653495” 281.2 Infrastructure in turkey PAGEREF _Toc384653495 h 22
HYPERLINK l “_Toc384653496” 291.2.1 AVIATION PAGEREF _Toc384653496 h 22
HYPERLINK l “_Toc384653497” 301.2.2 The railway network PAGEREF _Toc384653497 h 23
HYPERLINK l “_Toc384653498” 311.2.3 The roads network PAGEREF _Toc384653498 h 23
HYPERLINK l “_Toc384653499” 321.2.4 Utilities-power supply PAGEREF _Toc384653499 h 24
HYPERLINK l “_Toc384653500” 33Utilities – Water Supply: PAGEREF _Toc384653500 h 24
HYPERLINK l “_Toc384653501” 34Telecommunications: PAGEREF _Toc384653501 h 26
HYPERLINK l “_Toc384653502” 35Analysis of the Turkey Tourism Market PAGEREF _Toc384653502 h 27
HYPERLINK l “_Toc384653503” 36Tourists Turnover: PAGEREF _Toc384653503 h 27
HYPERLINK l “_Toc384653504” 37Breakdown of Demand by Customer Type PAGEREF _Toc384653504 h 29
HYPERLINK l “_Toc384653505” 38Customer Segmentation PAGEREF _Toc384653505 h 32
HYPERLINK l “_Toc384653564” 39Why Istanbul? Quick Facts PAGEREF _Toc384653564 h 35
HYPERLINK l “_Toc384653565” 40Istanbul’s Economic Climate PAGEREF _Toc384653565 h 37
HYPERLINK l “_Toc384653566” 41Tourism in Istanbul: PAGEREF _Toc384653566 h 37
HYPERLINK l “_Toc384653567” 41.1Hotels in Turkey (Current Competitors) PAGEREF _Toc384653567 h 39
HYPERLINK l “_Toc384653568” 42Upcoming Competitors in Tourism and Leisure Market PAGEREF _Toc384653568 h 40
HYPERLINK l “_Toc384653569” 43Summary of the Key Findings of the Feasibility Study PAGEREF _Toc384653569 h 40
HYPERLINK l “_Toc384653570” 44Conducting the SWOT Analysis: PAGEREF _Toc384653570 h 42
HYPERLINK l “_Toc384653571” 454. Market Entrance Strategy, Conclusion and Recommendations: PAGEREF _Toc384653571 h 43
HYPERLINK l “_Toc384653572” References PAGEREF _Toc384653572 h 44
1. Abstract
As a vital part and growth strategy, the real estate company called Ezdan tends to value international investment chances. Even though, Ezdan has done well at closing many international deals applicable to land acquisition, reselling and real estate consulting services, the company has not undertaken complete fledged international real estate management and development ventures like the one done by Ezdan in Qatar, which is the home country. This means given the suitable environment and the appropriate business conditions, Ezdan has the ability to undertake extensive expertise and become the biggest real estate developer in their country (Aktan and Ozturk, 2009). The company has the ability to become a big company in Qatar in relation to market value to the dominion of international real estate management as well as development. For its fully-fledged venture in the international market the report presents a research business entrance into the Turkish market in terms of real estate market to undertake development and administration of Ezdan resort in Turkey city in Istanbul. The business study shows an analysis for the political, legal, cultural, economic and natural environment in Turkey and evaluation of the tourism industry forecast in Istanbul along with an assessment of the competitors. The report conducts a SWOT analysis in relation to the entrance of Ezdan in the Turkish market and offer pertinent recommendation to help the company in the success of the international business enterprise comprising of market formulation entrance strategy of the company in Turkey.Introduction:Background on Ezdan Real Estate:Ezdan Company, which deals with Real Estate, was established in Qatar, Doha in the year 1960. The company functioned under the owner name called HE Sheikh Thani Bin Abdulla Al Thani to the year 1993 after its conversion to a limited liability company with the name Thani Bin Abdulla Housing Group L.L.C. In the year 2006, remains a remarkable year for the firm, when the group division that focused on real estate investments became an independent entity named Iskan Real Estate L.L.C (Oven and Pekdemir, 2006). The firm’s name was amended later to be Ezdan Real Estate Company L.L.C in the same year. The firm was then changed to Qatari shareholders in relation to Resolution No. 227 associated with Minister of Economy as well as Trade in the year 2007. The change was agreed during the general assembly of the company in the same year Ezdan was listed in the Doha Securities Market. This was meant to be a tactical move by the firm to secure enough funding, widen the company’s investors’ numbers, and enhance its liquidity.
Company Objectives:Ezdan concentrates on attaining profits from real estate investment ventures available in the local and international market. The company endeavors to take part in development of the infrastructure of Qatar. In order to achieve all goals Ezdan continually seeks to undertake the following activities,
Purchase and sell private and commercial real estate, unused lands in both the country and other countries.
Provide consulting services in real estate such as technical project consultation in real estate.
The company is working towards being a representative for both the local as well as international companies to attain enough experience in management of real estate management together with other technical consulting expertise.
Give real estate services such as brokerage or valuation locally as well as internationally.
Manage real estate properties locally and internationally.
Trade a variety of construction equipment and building materials.
Participate in real estate and contracting activities, mostly in construction or maintenance.
Establish companies and industries that specialize in manufacturing materials to be used in construction.
Background on the “Ezdan Resort” Project:Turkey is presently considered as a popular destination for many Europeans tourists from Africa, Balkans, Americas, Africa, Middle East and Asia. The country offers unique combination of recreation evident in cities such as Istanbul. There are varied beaches, spa hotels together with numerous boutique hotels found in different parts of the city (Aktan and Ozturk, 2009). There are also world and European level events such as formula-1 races, musical concerts, museums, as well as exhibitions. Istanbul is considered country of it’s own country. Many tourists travel to Turkey to visit the city in the Bosphorus shores. It seems strange, but the city provides cheap holidays, which makes Istanbul affordable for every person, mostly, young people. The Mediterranean hotels found in Turkey are viewed as the best in Europe and the entire world. By developing the Ezdan resorts, Ezdan Real Estate aims at catering for the increasing number of tourists in the region. The resort will have both sophisticated residential villas together apartments, equipped with various, restaurants, hotels and shops proposed to be supervised a related hotel brand. The company marketing team has undertaken the business study to evaluate the project viability and achieve success in the venture. This involves the analysis of the tourism market together with the hospitality world in Istanbul and Turkey.Analysis of the Natural, Cultural, Economic, Environment and Infrastructure Factors in Morocco:1087120189865
Natural Environment:The country Turkey is found in the western part of Asia extends from Dardanelles to Bosphorus Straits in the east part of Europe. Anatolian peninsula, which is found in the Asian part, is the size of Texas and enclosed by the Black Sea. The country is bordered by Russia together with Ukraine to the north, other countries such as Azerbaijan Georgia, Iran, Armenia, and Iran in the eastern part. The country is also bordered by Iraq, Syria with the Mediterranean Sea from the south. The European portion is identified as Thrace bounded by the Black Sea as well as Romania, in the northern part. The countries bordering Turkey to the west are north, Aegean Sea Greece and Bulgaria. The country has extensive coastal plains with half of the country being over 800 meters in terms of sea level, with various mountain ranges in the eastern western direction. The highest mountain in the country is Mount Ararat and is over 5000 meters with 130 peaks of 4000 meters in terms of height. Turkey is found in a seismically active location with fault lines that run through different parts of the country. They have led to frequent earthquakes, and demolition of human habitation together with man-made structures in the past.
1.5 Cultural Environment:Turkish and Kurdish are the languages widely spoken in the country with Turkish being the language spoken widely in the country. Kurdish is the second language spoken among the population.
Moroccans are mostly multi-lingual and can speak Spanish, French and Arabic fluently.
Majority of the populace practices Islam religion even though the state remains fiercely secular as Islam originated from Saudi Arabia.
People shake hands firmly during interaction and during departure it is not often customary to shake hands even though the act is occasionally practiced.
Friends and relatives greet each other with one or two kisses on the cheek. Elders remain respected by often kissing them on their right hand and placing a person’s forehead on their hand.
Turkey is known for antique folk dance tradition that changes from one region to the as each dance remains, colorful, musical and stylish.
.Turkish food is ranked among the greatest cuisines in the entire world together with Chinese and French.
Despite the country being a Muslim country, individuals put on Western style clothing in a reserved form.
Economic EnvironmentTurkey is an truly dynamic and an emerging market full with a developed infrastructure network and an internationally aggressive work force. The country civilian labor force remains 25.9 million people in the end of the year 2010 compared to 24.3 million people in 2004. Agricultural sector employs 1/3 of the labor force even though the agriculture share in GNP is slightly above 10%. Nearly half of individuals employed are found in the services sector with the ratio employed in sectors such as the industrial sector to be 18%. This means the main factor in the upsurge of deficit in the current account was because of import increase and worsening trade balance (Onder, 2000). Tourism revenues assisted in compensation by generating around 30 billion USD in revenue in the year 2012. Turkey’s population remains over 70 million, which means it is growing and still young. It has the biggest landmass in relation to Western Europe with the economy of the country economy ranked in the 20 biggest countries in the world economies with a GDP of US $400.The American commerce department has listed Turkey to be among the ten promising and emerging economies. The World Bank also stated that Turkey remains in the list of the top ten nations to become the top tier in the world economy. The main urban centers and the extensive economic development are in regions such as Marmara, Aegean together with Central Anatolian. They extend across the northern and central Turkey. The presence of the big cities like Istanbul, Ankara, Izmir and Bursa within these regions seems significant in enabling them to become a major industrialized and manufacturing districts. At the same time, there is an additional fast developing part in southern region around Adana.
Gross Domestic Product (GDP)The Gross Domestic Product in the country has languished in the e fourth quarter of the year 2012 in the past quarter. in the past, from 1998 to 2012, the country GDP rate of growth has been an average of 0.97 Percent to a high of 6.69 Percent in the year 2009.At the same time, Turkey has in the past experienced a low record -7.57 Percent in 2009. Turkey is a quickly developing country with the biggest national economy in relation to Central as well as Eastern Europe (Onder, 2000). Turkey’s vibrant economy is a multifaceted mix of contemporary industry coupled with commerce in the traditional agriculture segment, which contributes to 30% of jobs. It has a tough and speedily growing private community; however, the government plays a big role in the main industry, communication, banking, and transport. The country’s economy has exposed remarkable performance in terms of stable growth in the past years.
Gross National Income (GNI)The Gross National Income for the year ended 2011 was 12,246 as compared to 11,841 in the year 2010. As stipulated in the graph below. With the dynamic emerging market of Turkey which has a developed infrastructure and a competitive workforce. The main reason for the increase in the GNI is the increase of imports. The growing economic activities fuelled imports through capital and intermediate goods and the tourism sector helped generate revenues. As shown in the figure below
Gross National Income for the year ended 2011
Purchasing Power of the TurkishTurkey’s market economy is steered by the service and agriculture sector, which accounts for over 25% of employment. The privatization program has reduced the States involvement in the basic industry and an emerging class of entrepreneurs who are adding dynamism to the economy by expanding it productivity as well as its industry (Oven and Pekdemir, 2006). The flow of oil since 2006 has been a major milestone as several gas pipelines have helped shift forward in the transport sector of gas from Europe through Turkey. In time, the situation will help in its dependency on the imported oil and gas to meet 97% of the energy. It needs the uncertainty related to monetary making strategy, and its political havoc within its neighborhood, leaves the economy open to destabilize shifts in investors’ confidence. The condition will give an opportunity to Ezdan Resort Project in Turkey to fulfill its purpose and fill in the gap to improve the economy of the Turkish community.
Income Tax Rate (Personal)Turkey’s maximum income tax rate is 35%, while the minimum rate is 15% based on income levels. Details on tax rates for specific income ranges are presented in the figure below.
Tax % The Tax Base
15 0-10,000
20 10,001-25,000
27 25,001-58,000
35 58,001 and over
Corporate Tax RateThe basic corporate income tax rate levied on business is 20%. The withholding tax on selected payment on non-residence corporations is such that 15% is subjected to dividends and profit shares on participation accounts on banks and REPO agreements while there is tax subjected on treasury bills and bonds no no-residence corporations (Gokce and Eren, 2008)
Inflation RateThe Turkish Statistical Institution recorded the inflation rate at 7.03% in 2013. Since the years 1965 until 2013, its inflation rate averaged 38.06% reaching a high rate at 138.71% in May 1980 and a low record of -4.01% in the year 1968. The inflation rate is measured by the rise and fall of prices that consumers pay for a basket of goods though it has been lucky with the natural gas prices, which were cut down by the United States gas prices, which were cut into half in from the last four years (Onder, 2000). This gave both the producers and consumers a boast, which kept inflation down.
Foreign Direct investment (FDI)According to the trade and development report body under the United Nations Turkey’s direct investment attracted for the year 2011 the Foreign Direct Investment rose to 75% reaching $15.9 billion this was a 75.7% increase as compared to 2010 (Aktan and Ozturk, 2009).
Consumer Price Index (CPI)The value for the consumer price index was 153.12 as at the end of 2010 as the graph stipulates. Over the past 50 years, the indicator reached a maximum value of 153.12 and a minimum value of 0.00 in the year 1960 (Oven and Pekdemir, 2006). This value is calculated by the Laspeyres formula and it reflects the changes in the cost to the average consumer per basket of goods and services changes at specific intervals as shown below:-
1285875137160
Interest ratesTurkey’s benchmark interest rate was recorded lastly at 5.50% as reported by the central bank of Turkey. Since 1990 until 2013, its interest rate averaged 60.75% reaching and maximum rate of 500% in March 1994 and a minimum of 5% in February 2000. The interest rate decision is made by the central bank of turkey monetary policy committee as stipulated in the table below (Aktan and Ozturk, 2009).
666750292735
Official Exchange RateThe USDTRY spot exchange rate appreciated by 0.29% during the last 30 days, historically since the year 1981 to 2013 the rate averaged at 0.9900% reaching a maximum rate of 1.9200 in December 2011 and a minimum rate of 0.0000 in march 1981 (Onder, 2000). This specifies how much one United States Dollar is worth in terms of the others. The table below shows the historical data for the Turkish Lira Exchange rate.
916305266065
Free Trade AgreementsTurkey’s customs union comprises if an authorized free trade agreement and an independent government. According to the custom union, Turkey shall bring its profit making strategy with the EU’s common commercial policy together; the special trade system constitutes the most significant part of the trade policy if Turkey applied towards the third world countries.
As popularly known, Customs Union is an economic integration model in which all the existing customs duties, duties having equivalent effect and quantity restrictions, measures having equivalent effect in which a common customs tariff is implemented to the third countries (Aktan, 2009). Customs Union is based on the principle of free movement of goods. In this respect, it is required by the parties that a common commercial policy and common competition rules are developed and implemented.In free trade agreements, the goods traded between the parties benefit from the preferences stipulated in the said agreements based on the rules of origin (Sari and Aydin, 2007). Besides, in the free trade agreements, there is no obligation to implement common commercial policies or common competition rules; on the contrary, the parties implement their own customs duties to the third countries.
The Labor Force:A key component of investment is the availability of a skilled workforce. Turkey offers investors a young, talented, motivated and skilled workforce of 25 million. Turkey has the fifth largest labor force compared to the EU and one of the largest labor forces among the developing countries. Turkey has not only one of the largest, but also one of the fastest growing labor forces among the emerging economies. With 36% of the labor force in who have attained a diploma certificate implies as follows:
Its labor force is one of the most flexible and skilled workforces in the world, possessing the required qualifications, talent, dedication and motivation. This skilled labor force is capable of meeting the needs of the globally integrated and highly diversified Turkish economy.
A strong work ethic is an important component of the Turkish work culture.
Turkish labor force catches the attention of the global business world with its entrepreneurial ability and adaptation skills.
Ageing populations have been seriously hindering economic growth in many developed countries. Today, there are millions of young Turkish people providing developed countries with a pool of skilled young labor force. Turkey has the largest youth population when compared to the EU countries with Over one fourth of the Turkish population is under the age of 15.
It is a well-known fact that the skilled labor force of Turkey is available at very competitive costs compared to the world.
While the labor cost in Turkey is considerably lower than in rival countries, the growth rate in labor productivity has been impressively higher in recent years. Lower labor cost and lower average wages together with increasing labor productivity is creating highly profitable opportunities for investors in Turkey.
The competitive advantage of Turkish labor force is justified through dedicated long-hour working time. Turkey has the longest working hours in Europe.
Political EnvironmentTurkey is the third most populous nation in Europe with a population of 71.9 million. The country is a secular democracy and one of the fastest growing countries in the world. The Justice and Development Party is the leading party, which held its control since the year 2002 and now enjoys 50 % share of the national assembly seats. It has maintained a pro western alien policy since the end of Second World War and has provided crucial support to the United States of America foreign policy. AKP aspiration for Turkey is to become a regional power in the Middle East and acts according to its geographical interest. It has had disagreements with the neighboring countries though their commercial ties have remained unharmed. Turkey has the 17th largest economy and offers right of entry to markets in Europe, the Caucasus, central Asia and the Middle East. It has a major focus for oil and gas acts as a connection between Europe and some of the largest energy suppliers in the world. It has a triumphant, serene, and is a stable country in a country full of conflicts (Oven and Pekdemir, 2006). The government has a unicameral national assembly that elects a member of its ranks to the role of president for a five-year term. The president appoints the prime minister, who is the head of the government. The most important recent development in Turkish domestic politics is the rise of the Justice and Development Party as a centre right party. In Turkey, political parties must achieve at least 10% of the vote to gain representation in parliament. The AKP first came to power in 2002 under the leadership of Recep Tayyip, with 363 of 550 parliamentary seats while the Republican People’s Party (CHP) won 19% of the vote and 178 seats. The rest of the other parties that held seats prior to the 2002 election were no longer represented in parliament. This dramatic move was due to the financial crisis of 2001 and the collapse of the Centre Right Coalition Parties. AKP party leader Erdoğ and was appointed Prime Minister of Turkey in 2003, and has retained his position to this day.
The recognized political parties in Turkey are:-
Justice and Development Party.
Republican People’s Party.
National Movement Party.
Peace and Democracy Party.
Legal EnvironmentLabor Laws
The Turkish foreign direct investment laws have a basic setting in the division of articles. The laws regulate basic entrepreneur policies to encourage direct foreign investment schemes. This is a favorable initiative to encourage approval of the international standards to boost the countries economical sector. The Turkish business environmental sector offers ample and efficient operational policies that mandate foreign companies on free and fair obligatory codes.
The Turkish government sets freedom bill of investment in their land, have fair national treatment to multibillion projects and offer legal balance of the trade fairs. In competitive markets, the legal frame works operate on equal treatment platforms as compared to the domestic investors. This is a move that has challenged the foreign investment plans of major countries to decrease their ability to form favorable investment policies (Onder, 2000). This has been a major setback to the investors who want to settle for manageable policy structures.
1.1.2 Copyright, intellectual property (IP) and Competitive Laws;Foreign express investors are bound on an expropriation and independence. This move binds the legal dealings of a company away from the surrounding environment despite the conditions that may prevail in their investor land (Onder, 2000). The policies define compensation procedure in agreement to the existing protocol of law.
In Turkey, investment projects present majority opportunity for independent proprietorship plan, especially in Istanbul.
Free foreign transfer of the investors’ net profits, benefits from sales or liquidation of recent investments. The Turkish legal transaction board makes provisions for reimbursements’ and grant loans from wired financial institutions.
Constitutional court amendments favor the investment schemes with approvals to right of entry to real estate firms all over turkey (Oven, 2006). This is a direct oversight to development schemes, projects and management schemes to the existing architectural rights of property ownership in scale of performance requirement.
the development policy involve dispute resolution schemes that defend the interests of the individual private and public governing laws from the private investors to the local configuration authorities.
The Turkish regulation authorities on stocks make acceptable universal laws that establish with relevant authority to performing international valuations on the investor stock markets (Oven, 2006). This ranges from valuation of either non monetary form of capital cash to the accepted credit transaction rates.
1.1.3 Freedom of Pricing and Competition:The competition acts in turkey are constituted in mannerism that favours foreign investments; the operational board that regulates the prices is also effective in promoting sharp markets and consumer association (Sari, et al, 2007). This is favourable to Ezdan as this will boost its relation with the constant provisions from the Turkish constitution that protects other monopoly conduct from the local competitive companies.
The competition policy covers all forms of economical transcriptions for the foreign investors. This is a standard exemption from renown bank merger o f the universal bank partnerships, this is a recognition act from the from the competition statue that has a current provision from the Turkish government conduct. The Turkish federal representation authority has approvals from international state unions that mandate the commission on approval to the various involvements of the transactions of investor interest welfare (Sari, et al, 2007). This is a free basis for existence for any development trade partner from the world over; this is a clear undertaking for Ezdan as a world contributor to the development sector as a pertinent dominating partner.
Under the Turkish federation of business protocol allocation of operational laws and regulations, controlled commercial undertakings certify the approval to undertaking counter competitive progress policy to the statutory powers and obligations. This is a move to efficiently promote, attract and make provisions for the foreign investment planners, creating economical markets for the country’s positioning at the centre of focus.
Organisations from the Turkish aggressive Authority have the reputation of the country’s drastic reputation over the recent years. This is evident from the prolonged effective administrative role that has won support from the world trade unions and business community leaders (Gokce, et al, 2008). The has also shaped the nature for working conditions of the governmental schemes to defend investor interests, through transparency of major governing policy and creating amendable changes at the competitive platforms for member association shows and exhibitions.
1.1.4 Personal Data Protection LawIn Turkey, when a provisional personal data is granted during authoritative supervision of business system in accordance to the expectations of performance contract (Gokce, et al, 2008). However, when the personal data is allocated as per the requirements, a controlled evaluation is conducted and an overall audit of the firm has to be certified with the authority land regulator as the recipient. The personal data or business profile is significant in legal presentation during the execution of the company’s representational documentation and its overall framework operations. This is the definition image the company portrays throughout its operations and agreement consents.
1.1.5 Arbitration and MediationIn the rapidly changing economy, disputes arise from varied aspects of interactions. These disputes affect the welfare of investments plans and development structures. Commercial disputes involve transaction of differed opinion, settlement and agreement misunderstandings. The Turkish commercial policy is listed in article 4 of the country’s trade regulations and expected authority rule. This article highlights party dispute, bankruptcy and enforcement policy on investment schemes. Article 9 in the trade and constitutional approval act, provides settlement for individual and commercial cases that can be regulated by independent courts. This indicates the country’s potential ability to uphold trade transactional disputes without regard to any for
