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Gulf Businessmen Prefer to Invest in the Turkish Real Estate

: 2016-12-17 Modified date : 2019-03-25

Gulf Businessmen Prefer to Invest in the Turkish Real Estate
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Sabuhi Attar, Head of the Turkish Arabic Businessmen Association (TURAB), said that the current period is witnessing a remarkable turnout by the Gulf States to invest in Turkey, and they mostly invest in the construction sector.

Attar said, during an interview with the Anatolu Agency, that Turkey and Arab countries have strong relations with ongoing partnerships, recalling that Turkey has collaborated with many Arab countries, especially Saudi Arabia and Qatar. This collaboration decreases sometimes because of the terrorist attacks that shook Turkey, however, collaboration has never stopped.

Attar stressed that the failed coup attempt did not affect the Arab investments in Turkey, and that is due to Arab investors' confidence in the solidity of Turkish state and the stability of the democratic system. Pointing out that many Arab friends came to Turkey only one week after the coup attempt in order to invest in the Turkish real estate sector.

Attar praised the trade relations between the Arab countries and Turkey, adding that the trade volume between Turkey and the Arab countries reached up to 9 billion dollars in 2003, today it surpassed 46 billion dollars, and is expected to increase to 70 billion dollars in 2017.

Attar expressed his confidence in the constant growing of the Turkish economy despite the crisis experienced by the region, saying: "Turkey is one of the few countries that have the ability to overcome the crises well."

Regarding the falling of the Turkish lira in front of the dollar, Attar criticized the media's focusing on this matter and marketing it; he said: " They talk about the decline in the Turkish lira, forgetting that the euro is witnessing a sharp fall too!''

It is worth mentioning that the international rating agency Standard and Poor's (S & P) had raised the classification of Turkey's credit rating to stable from negative in the last month. Furthermore, the agency confirmed that the credit rating stable reflects the resistance of the Turkish economy to the risks arising from the regional and internal threats to the country for a long time.

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