Turkey calls for real estate investment from Gulf countries

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istanbulTurkey on April 10 appealed to Gulf business giants to invest in Turkey as the political stability has been sustained with the local election held at the end of March 2014.

“This is the perfect time to invest in Turkey,” said Turkey’s Finance Minister Mehmet Simsek in the two-day International Investment Summit in Istanbul, Xinhua reported.

“The local election which has been considered as a referendum revealed the fact that the political stability is not under stake, ” he added.

The gains of the last decade have entirely driven from the political stability, Simsek said. Turkey’s ruling Justice and Development Party (AKP) has been elected as the first party having around 40 per cent of the votes.

Some 70 investors, more than 40 Gulf companies and 100 Turkish companies attended the meeting, which was organised by Istanbul Investment Association and Middle East Economy Platform.

Turkey aims to attract funds from the Gulf countries including Saudi Arabia, Kuwait, Qatar and UAE to the country’s real estate, construction and energy sector. The head of International Investment Summit, Hasim Sungu, said that the total business volume of the Gulf countries’ funds stood at $500 billion.

Saudi giant Abdurrahman Al Ajlan, who has $6 billion investment in real estates sector, was among the participants. Abdurrah Al-Zamil from Saudi Arabia was another important name, managing $10 billion trade volume in the fields of energy, real estate and iron and steel.

Al-Zamil, speaking about the economic welfare of the Gulf region, noted that Turkey should continue to work hard to have the Gulf market as a partner. He added that the Gulf countries have long been attracted by the good opportunities of Turkey. “During the summit we expect a boost in bilateral relations and have concrete results in signing contracts,” he said.

Speaking about the challenges in front of Turkey’s economic growth, minister Simsek stated that the country has long been battling with the current account deficit and inflation rate.

“We have reduced the inflation to a single digit number. Single digit is not a barrier to do business in Turkey. You can still do your business in a fashionable environment,” Simsek said.

Turkey’s recovery from the global crisis is quite strong, according to Simsek. The Turkish GDP is 20 per cent higher compared to before the crisis.

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Reading Time: 2 minutes

Turkey on April 10 appealed to Gulf business giants to invest in Turkey as the political stability has been sustained with the local election held at the end of March 2014.

Reading Time: 2 minutes

istanbulTurkey on April 10 appealed to Gulf business giants to invest in Turkey as the political stability has been sustained with the local election held at the end of March 2014.

“This is the perfect time to invest in Turkey,” said Turkey’s Finance Minister Mehmet Simsek in the two-day International Investment Summit in Istanbul, Xinhua reported.

“The local election which has been considered as a referendum revealed the fact that the political stability is not under stake, ” he added.

The gains of the last decade have entirely driven from the political stability, Simsek said. Turkey’s ruling Justice and Development Party (AKP) has been elected as the first party having around 40 per cent of the votes.

Some 70 investors, more than 40 Gulf companies and 100 Turkish companies attended the meeting, which was organised by Istanbul Investment Association and Middle East Economy Platform.

Turkey aims to attract funds from the Gulf countries including Saudi Arabia, Kuwait, Qatar and UAE to the country’s real estate, construction and energy sector. The head of International Investment Summit, Hasim Sungu, said that the total business volume of the Gulf countries’ funds stood at $500 billion.

Saudi giant Abdurrahman Al Ajlan, who has $6 billion investment in real estates sector, was among the participants. Abdurrah Al-Zamil from Saudi Arabia was another important name, managing $10 billion trade volume in the fields of energy, real estate and iron and steel.

Al-Zamil, speaking about the economic welfare of the Gulf region, noted that Turkey should continue to work hard to have the Gulf market as a partner. He added that the Gulf countries have long been attracted by the good opportunities of Turkey. “During the summit we expect a boost in bilateral relations and have concrete results in signing contracts,” he said.

Speaking about the challenges in front of Turkey’s economic growth, minister Simsek stated that the country has long been battling with the current account deficit and inflation rate.

“We have reduced the inflation to a single digit number. Single digit is not a barrier to do business in Turkey. You can still do your business in a fashionable environment,” Simsek said.

Turkey’s recovery from the global crisis is quite strong, according to Simsek. The Turkish GDP is 20 per cent higher compared to before the crisis.

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