Increasing Saudi Ownership in Turkey's Real Estate and Investments
Housing construction in Turkey continues to rise steadily each year. In Istanbul, Trabzon, Antalya, Ankara, Sakarya, and many other big cities, branded projects are taking place. The last decade has turned every district to a city center.
When we look at investments in Turkey from the Middle-East, we see that it is growing exponentially every year.
Investments From Arabs
Arab businessmen who have come to Turkey with housing started to invest. Businessman Ibrahim Al Hussain built a solar energy factory in Düzce. Adil Al Husayni is considering housing and agricultural production on the land he bought for 50 million dollars Turkey's safe harbor and the Islamophobia trend in the West have translated the route of Saudi investors into Turkey.
The Saudi capital, which first came to buy real estate, is now turning to industrial and energy investments. The large conglomerates of Saudi Arabia are establishing factories in Düzce, Eskişehir, and Trabzon. Rimall Invest Chairman Fatih Tataroglu, who advises the Gulf capital, said that a Saudi investor bought a 20 million TL shopping mall and 20 million TL house from Istanbul in 2017. According to the information received, the Saudi businessman, who did not want the name to be revealed, gave the building to the owner of the building. "The company has a budget of 30 million liras to make new purchases," Tataroglu said.
Adil Al Husayni was the last Saudi Arabian businessman to enter Turkey by taking the land. Husayni, a company named Adil Al Huseyni Holding, bought $ 50 million worth of land. The businessman plans to make housing projects in the coming period on the lanes he bought from Istanbul and Yalova. Another Saudi businessman investing in Turkey was also informed that he was Ibrahim Al Hussain. Fatih Tataroğlu, Chairman of Rimall Invest, stated that the biggest claimant of Saudis is the seaside villas by the Bosphorus and said, "The negotiations are going on for 4 different seaside properties.
Turkey Attracts Arab Investors With Culture Familiarity
In 2016, The government of Turkey has introduced major incentives for the Saudi investors to draw the additional flow of cash as well as investments within the homeland. All Saudi investors have been cleared from Turkey's VAT plus duties on imported gear and machines, which in order declines the price of the investment.
Provided necessary incentives contained support for public safety premiums, fewer taxes for the workforce as well as employers, except more civic land shares.
Property, automobiles, and energy, symbolize the most competent investment prospects inside the country. According to the latest report, Saudi Arabians were in the second leading position in terms of property purchasing in the country, after Iraq.
Increasing Number of Property Sale to Arabs in Turkey
According to Turk Sat, more than 30 thousand units were sold to foreigners between October and January 2018. In 2016 of January, Saudi Arabians purchased 136 units.
Why is Turkey the First Choice for Arabs in Real Estate and Investments?
Istanbul especially is a gold mine for any future investments, such as Canal Istanbul, Galata Port, and the new Istanbul Airport. There are various projects in the other provinces that will boost any early investor.
The culture of Turkey is sometimes close to the Arab society, where most Turkish people are Muslims. Islamic culture has shaped modern Turkey and became a part of daily life there. Now, people have customs and traditions familiar to the Arabs.
Turkey has a charming nature, and unparalleled appeal around the world, and a relatively mild climate, next to a civilization and a long history that showcases the wonderful cities of Turkey. Istanbul alone was ranked ninth among the most visited cities in the world in 2018, preceded by Berlin, Barcelona, Rome and Los Angeles, and other important tourist cities.
Through a recent change in the Turkish Nationality law, an amendment came into effect. This decision grants citizenship to anyone who buys a real estate valued at $250,000 came as an exceptional opportunity that does not hide its importance, and this decision covered citizens of most of the countries of the world. The citizenship includes all family members of the new owner, from partner to children under the age of 18. As long as the Tax excluded price of the real estate purchase is $250.000, you are eligible for citizenship.
From a wonderful climate, a promising economy, a huge real estate market, and many landmarks attracting tourists from different parts of the world, makes the investment and residence in Turkey a winning option and ideal by all standards. Medicine in Turkey is cheaper than all European countries, which has given the health sector in Turkey unparalleled prosperity and demand in recent years.
