The convergence between two countries is not only in policy but also in business there were many summits and exhibitions gathered the Turkish and Saudi businessmen like cityscape and other exhibitions.
Real estate is an attractive sector to the Arab investors because it is considered less dangerous and fast business profit compare with other business, moreover the great nature of Turkey and the nice atmosphere with the wide green spaces, in addition to overcoming Turkey in this field to be number one in the world.
Saudi-Turkish Real Estate Investment Fund was established
As a step forward to unite the works together and facilitate and accelerate the purchase of real estate in Turkey. Signatures were taken to establish an Saudi – Turkish Real Estate Investment Fund. The fund will bring a new breath to investment and possesses great importance due to being the first of its kind in the area.
The Investment Fund was implemented in the corporation between Meros International Real Estate Investment, Gulf Group and Capital Now, Saudi Arabia’s investment company. The signing ceremony of the project held under the presence of the Prime Minister Ahmet Davutoğlu with the participation of Turkish and Arab businessmen in Istanbul. 500 million dollars of investments are being planned at the first stage with the said fund.
Yusuf Katipoğlu the Chairman of the Board of Directors of Meros stated that as well as being a first for both countries the fund, which had been established for Arabian and Turkish investors for the first time with a 500 million dollar budget would further increase the number of Arabian real estate investors which were already on the rise in the recent periods.
Saudi Al-Bassam Group to set up 2 bln lira fund to invest in Turkey
Saudi Arabia’s Al-Bassam Group will set up a new fund worth 2 billion liras ($751.17 million) with Saudi Sumou Holding to invest in Turkey’s real estate market AlBassam Group’s CEO said on Wednesday. We are aiming to work with state companies such as TOKİ, Emlak Konut, and Kiptaş Ziad al-Bassam said.