Dubai – Mubasher: Investors from Gulf Cooperation Council (GCC) countries own a quarter of the Turkish real estate contracts sold to foreign buyers, with a rise of 500% in GCC investment in the Turkey’s real estate sector, following the introduction of 2012 liberalisation of foreign investment law, according to statistics by UAE’s REIDIN,.
The leading real estate information company focusing on emerging markets, REIDIN, said that the figures came during a meeting held by a group of important personalities from Turkey and Australia. The same meeting announced the appointment of Raine & Horne, one of Australia's largest and longest established real estate companies in Dubai, as the lead agency in GCC, and manager of a AED three-billion real estate portfolio in Istanbul.
Turkey has religious and cultural bonds with GCC, besides being an important economic partner, as the trade exchange between the two sides approached $16 billion in 2014, according to REIDIN’s statement viewed by Mubasher.
As the Turkish economy came 17th globally, it is considered as a safe investment environment and an important platform for both Europe and Asia.
"High capital growth, great investment propositions, important infrastructure projects on the horizon and secure legislation and regulation means Turkey is a key market for today's property investor and our buyers in the Gulf are demonstrating their confidence in Istanbul's healthy property market,” Sanjay Chimnani, Joint Managing Director of Raine & Horne Dubai, said.
“The developments presented by Nurol REIT offer exciting opportunities with a range of different properties to suit different buyers. We are proud to be in partnership with Nurol REIT and thrilled to be the lead agency in the GCC for this project," he added.
