The amount of real estate investment required to become a Turkish citizen has been reduced from $1 million to $250,000 in September. This amendment in the citizenship law has increased the investment appetite of Arab investors toward the Turkish real estate sector. To that regard, 1,500 Arab investors from 19 Arab countries are coming to Istanbul in collaboration with the Turkish-Arab Countries Business Association (TÜRAP) from Nov. 19-22 to evaluate the investment opportunities in the country.
TÜRAP and the TurabExpo event will bring together 1,500 Arab investors with housing developers in Turkey at the 2nd Real Estate, Project, Investment, Finance Expo. At the expo, which only registered participants can attend, housing producers in Turkey will have the opportunity to hold face-to-face talks with Arab investors to evaluate the investment opportunities. TÜRAP will be able to mediate the sale of the houses of the companies participating in the exhibition in the Arab countries through the organization they established in 19 Arab countries.
TurabExpo’s 5th Construction-Building Materials and Technologies & Interior Design-Furniture Expo will also be held on Nov. 19-22 at Pullman Istanbul Airport & Convention Center.TÜRAP Chairman Sabbouhi Attar said that these two fairs, which will be held concurrently, will play an important role in the promotion, marketing and sale of housing projects in Turkey, recalling that they have been working on developing cooperation between Turkish and Arab countries for 12 years.”We are developing projects that will enhance Turkish-Arab cooperation in the construction and real estate sectors and increase the foreign property sales in Turkey. The two-day expo will allow bilateral talks. Besides, our participating companies will be able to maintain their communication and business contacts through a web-based virtual exhibition,” Attar continued. “Under the umbrella of TA Group, established within TÜRAP, we provide legal and consultancy services to Turkish investors in Arab countries with our staff of 30 expert lawyers. With our Real Estate Investment Consultancy branches, we also offer services to Turkish companies in terms of housing sales and marketing.” Attar pointed out that Arab investors suggested that the most important factor for increasing foreign residential sales is branding, becoming an international brand and increasing brand awareness.
Attar noted that the interest of Arab investors is mainly limited to Istanbul, as the highest-quality projects have been mostly built in the city so far, adding that this interest has spread to different cities in Turkey.
“We also tell the Arab investors about the investment opportunities not only in Istanbul but also in other parts of Turkey,” he said. “Arabs now prefer Izmir, Antalya, Samsun, and the Black Sea cities apart from Istanbul as long as they get the right projects with the right presentation.”