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Golf Development in EMEA (Europe, Middle East, Africa) Region Moves out of Pre-Take-Off into the Rapid Development Stage
With 56 new golf courses opened in the EMEA (Europe, Middle East, Africa) region in the past five years, a further 43 now under construction and 87 golf projects currently in planning, the rate of development is climbing rapidly.
This is one of the conclusions of a new, ground-breaking international survey, to be published by Dallas, Texas based Golf Research Group and presented for the very first time at the forthcoming INVgolf Investment Forum 2005 [ www.invgolf.com ], an important international residential real estate, integrated resort investment and golf development forum which will be held at the Gloria Golf Resort in Belek, Antalya, Turkey on April 22 & 23. The exclusive report will be presented by Colin Hegarty, President, Golf Research Group, the world's leading consultant and publisher of business information to the golfing industry.
The history of the growth of golf in every market always shows three clear development phases. First, pre-take-off with no growth, or slow growth. Second a rapid development phase with extensive golf course construction. Third, maturity characterised by a return to slow growth. The above graph gives clear indication that the EMEA region has moved out of pre-take-off into the rapid development stage.
Golf development is still patchy. Countries such as the Czech Republic have seen a doubling of golf supply within five years to 55 courses today. Many other countries in the region such as Dubai, Morocco, Poland and surprisingly Estonia see extensive growth. Within the region, 25 countries now have golf courses but a further 17 countries continue to have no courses or even any plans for courses.
The construction of large numbers of golf courses in the region is significant but the real economic impact is the related development that always comes with the golf. The hotels, resorts, residential developments and timeshare developments associated with the golf courses represent billions of dollars of development and will lead to an economic impact of many more billions over the next decade.
The scale of current development plans is extraordinary. Morocco's Azur plan has 6 major resorts each with 16,000-25,000 hotel rooms and 3 to 4 golf courses. Egypt already has ten large golf real estate developments, some of which have already sold out and subsequently been expanded beyond their original master-plan. Dubai currently has seven new courses under construction all of which include extensive residential real estate developments.
Colin founded the Golf Research Group (GRG) in 1989 to undertake research into the business of golf. Today, with offices in the UK and USA, the GRG carries research into the golf industry on a global basis tracking golf in 126 countries. The GRG undertakes an annual phone survey of every golf course world-wide; over 32,000 courses are surveyed. Colin has published a wide range of business reports examining the golf industry. The Golf Research Group provides consulting services to many of the largest companies operating in the golf industry today. The firm has considerable experience undertaking feasibility, and business planning assignments in many regions of the world.
INVgolf Investment Forum 2005 -- April 22 & 23
Following the success of INVgolf's landmark investment forum in Athens, which was attended by top-level investors, developers and strategic partners from 17 countries in the EMEA region, North America and Australia, the INVgolf Investment Forum 2005 is this year being held under the auspices of the WTO (World Tourism Organisation) Business Council and the Turkish Ministry of Culture and Tourism.
Captains of industry, Presidents and Vice-Presidents of major corporations, leading resort and real estate developers, investors and top specialists from more than 20 countries in Europe, the Middle East, Africa, Asia, North America and Australia have already signed up. Over 25 top speakers and panellists from leading companies, including RCI, PGA Golf Management, RH International (affiliated with Cushman & Wakefield Healy & Baker), Stewart International, Troon Golf, European Golf Design, Wimberly Allison Tong & Goo (WATG), Economics Research Associates (ERA), Ransomes Jacobsen, CCA Europe Ltd., Brocket Hall International Ltd., Servotel Corporation, Golfplan, Albatross, Akkanat Holding, Erdem Holding, Clubhaus AG, Hart Howerton, Hartl Life Resort, Atlas Land and Business Development, Jacobson Golf Course Design, Inc., and many others, will share their expertise with these top-level delegates. The Vice-Presidents of the European Institute of Golf Course Architects (EIGCA) and the European Golf Course Owners Association (EGCOA), the Chairman of the German Golf Course Owners Association (BVGA) and the Chief Executive of the Committed to Green Foundation will also be speaking at the INVgolf Investment Forum 2005.
In addition, case study presentations on The Grove, a 300 acre (125 hectare) country estate and five-star hotel & spa near London, the Seeburg Project in Berlin, Kempinski Hotel The Dome (opening May 2005) / Antalya Golf Club in Belek, Turkey, and the Hartl Life Resort in Bad Griesbach, Germany -- Europe's largest Golf and Spa Resort -- will be made on April 22.
Several golf, conference, spa, residential and integrated resort investment opportunities will be presented on April 23. Furthermore, a parallel exhibition -- "The Future is Green" -- will showcase the latest products, services and equipment.
Attendee profile
Key stakeholders of the highest calibre will attend, including:
· FINANCIERS: investors (private and strategic), REITs / REICs
· DEVELOPERS: resort developers, property developers, residential real estate developers
· OWNERS: hotel and resort owners, golf course and club owners, land owners, residential and golf community owners
· SPECIALISTS: consulting professionals, designers, contractors, managers, operators and other stakeholders
Local support
In Turkey, the INVgolf Investment Forum 2005 is officially supported by the Association of Real Estate Investment Companies (GYODER), the Turkish Tourism Investors Association (TYD), which is currently Vice-Chairman of the WTO Business Council, the Belek Tourism Investors Association (BETUYAB), the Turkish Golf Federation (TGF), the American Business Forum in Turkey (ABFT), an Affiliate of the U.S. Chamber of Commerce, and the Young Businessmen Association of Turkey (GYIAD).
About INVgolf
INVgolf has a vision to create the world's foremost golf development, residential community and integrated resort investment forum. We seek to marry the concepts of residential, resort and golf development with sustainable development to produce multi-faceted complexes.
Through the organisation of high-level investment fora throughout the world, INVgolf seeks to bring together leaders from the sectors of hospitality, leisure, golf and residential real estate with investors, developers, business professionals, owners and strategic partners.
Golf has evolved tremendously from the rudimentary game that was first played in Europe more than five centuries ago. Today the game provides the focus for developments that include resort complexes, spas, fitness and thalassotherapy centres, casinos, marinas, equestrian and sports centres, conference resorts and convention centres, and real estate projects such as residential communities, vacation rentals and timeshare properties.
Previous investment forum
INVgolf's previous forum in Athens, Greece -- the 2003 European GOLF Investment and Real Estate Conference & Exhibition -- was an outstanding success. High-level delegates from 17 countries on four continents participated in this landmark international development and investment forum.
For further information, please contact:
Maria Margeti, INVgolf
Tel./Fax: +30 210 766 5822
Mobile: +30 694 770 8544
E-mail: jagruti@panafonet.gr
E-mail: invest@invgr.com
URL: http://www.invgolf.com/
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