In an interview with Anadolu Agency, the head of the Turkish Foreign Economic Relations Council, Nail Olpak, said he expected an increase in the desire of Gulf businessmen, especially Emiratis, to invest in the real estate sector in Turkey, starting in May and June.

He spoke about the "Emirati-Turkish Round Table Meeting for Real Estate Development and Construction 2022" organized by the Council on Foreign Economic Relations in Dubai, stating that they gathered many important names in the field of real estate development, and many companies wishing to invest in the real estate sector in Turkey at that meeting.

He said that he expects Gulf investments in the real estate sector in Turkey to increase in the coming period with the increase in tourism activity, as selling real estate to foreigners is a type of export that provides hard currency for the country.

He added, "The other positive aspect of selling real estate to foreigners is that the commodity we sell (the real estate) remains inside the country, and the person who buys the property is the one who brings himself to our country."

He pointed out that they are in talks with several companies from Dubai and Abu Dhabi wishing to invest in the real estate sector in Turkey.

In this, Olpak expressed his hope that relations between Turkey will return to its previous era, as the volume of trade exchange between the two countries in the past amounted to about 15 billion dollars and then declined with time to 3 billion dollars, which is what Turkey seeks in the current year and achieved success with an increase of 95 % last year compared to the previous year, and he hopes to continue this increase with the rise of Turkish exports during the first three months of this year by 40 percent, and this increase will continue until they make up for the previous deficiency and then achieve new records in this regard.

About the real estate sector, Olpak said that, to date, Turkish companies have implemented 141 projects in the United Arab Emirates, with a value of approximately $13.5 billion.

He pointed out that there are many areas that can be cooperated in to enhance trade relations, most notably the projects that will be implemented within the framework of Dubai Vision 2040.

He noted that there are infrastructure and superstructure projects worth $130 billion that will be implemented within the framework of this vision until 2040.

Olpak stated that 25 Turkish companies attended the "Emirati-Turkish Round Table Meeting for Real Estate Development and Construction 2022", in addition to 30 other participants representing Emirati companies.

He added that the UAE is seeking to diversify its sources of income and not be satisfied with the income generated from oil revenues. Therefore, it is showing interest in several areas and is also showing special interest in investing in several areas in Turkey, most notably energy, food, health and digital technology.

Edited By Aldar Real Estate ©

Source: Anadolu Agency