Feb 5, 2023

Reasons that Drive Saudis to Invest in Turkey Real Estate

Turkey is considered an important destination for Saudi citizens, whether for tourism or for investment of all kinds. The love of visiting Turkey is evident in every tourism season or at any investment opportunity that the Saudi investor sees. Investors in general, led by the Saudis, know very well Turkey's investment, commercial and economic importance to the world. In addition, they find the picturesque nature and refreshing atmosphere that they miss in their country, besides to similar customs and traditions, and the security and safety that they miss in European countries. In this article, we will talk about the most important reasons that encouraged Saudis to invest in Turkey real estate, which are as follows.

First: Maintaining good diplomatic relations with Saudi Arabia:

It may happen that you saw somewhere on the Internet or on television a news clip depicting the diplomatic relations between Saudi Arabia and Turkey as tense and not solid, but the reality on the ground is completely different, as there are some differences in foreign policy that may be Following it between two countries is a very natural matter, as it is not possible to have a complete agreement of one hundred percent between two countries, whatever they are. The difference exists even within one country, so when you want to see the strength of the diplomatic relationship between two countries, you must take a look at The volume of trade exchange that takes place between them and the strength of the economic relations that bind each other, as this exchange amounts to eight billion US dollars, in addition to the existence of many development plans at the level of the two countries, which aim to enhance and increase the volume of trade exchange between the two countries to reach the amount of ten billion US dollars annually.

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Second: The unstable status of the economic markets in the Middle East:

Previously, it was noted that there was a remarkable demand by Saudi investors to invest in real estate in the regional region, especially in countries such as Egypt and Lebanon. However, what the Arab countries witnessed in the recent period of turmoil and problems greatly affected the economy in them and led to a noticeable deterioration in the situation The economic and security situation in various parts of the Middle East, which prompted these Saudi investors to search for new centers for their investments, which were docked in Turkey's real estate thanks to the advantages and components they found in it that work to compensate for previous investments.

In addition, Turkey's great ability to face crises that may afflict it, whether these problems are internal or regional in origin, has worked to enhance the confidence that these Saudi investors give to the real estate market in Turkey, especially the real estate investment sector in Istanbul.

Third: The facilities that the Turkish government provides to foreigners when buying real estate in Turkey:

Various experts and observers agree that the economy in Turkey has begun to flourish in a remarkable way, starting from the year two thousand and two, and that this prosperity has witnessed a positive development since then until it reached a real renaissance in various economic fields at the present time, in addition to what the Turkish government is working on. From plans and urban and real estate projects and infrastructure modernization in various regions of the country, especially the countryside and popular areas, and the effort made by the government to enhance the importance of the real estate market in Turkey does not end here, but extends to include its work to attract foreign investors and the accompanying An influx of foreign capital into the country, which supports the Turkish economy in an important way, by providing various forms of facilities to the laws of owning real estate in Turkey by these foreign investors, and introducing the necessary amendments to the real estate laws in Turkey in order to achieve this even if it is not allowed The countries of origin to which these foreign investors return to Turkish citizens to own real estate, by stopping the reciprocity law issued in the year two thousand and twelve AD.

Fourth: Profitable investment returns guaranteed through Turkey real estate:

The most important factor that attracts foreign investors, regardless of their nationalities, to invest in a country is the extent of the desired benefit from such an investment. Saudi investors have noticed during the past ten years, during which they have transferred their investments towards real estate in Turkey, that they are already able to achieve The aspirations and goals that they hope for investing in the real estate market in Turkey, because it is very rich in promising investment opportunities, especially in the field of tourism and commercial investment, and even investing in residential real estate in Turkey is considered profitable and offers a promising investment future.

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