UAE developer eyes $54m projects in Turkey

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(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

UAE-based Green Valley International Real Estate has announced a major foray into Turkey with investments totalling AED200m ($54.5m).

The company said it aimed to use the investments to tap into the "booming real estate industry in the country and heightened interest from investors and clients".

The Abu Dhabi-headquartered company has unveiled three projects in Turkey.

These projects include a compound with 80 villas in the city of Bursa; a compound with 30 villas in the city of Sabanja; and a compound with 15 buildings which will encompass 105 residential apartments in Bursa.

Wiaam Mahmoud Rabah, chairman of Green Valley International Real Estate, said: "Turkey real estate market offers an excellent opportunity for property investors looking for substantial return on investments.

"We find the time opportune to invest in this booming market, and investors who are eyeing good growth should tap into this opportunity."

Rabah added: "We have plans for three iconic projects in Turkey - we have carved a niche with our delivery standards and our project deadlines, and we are confident that the Turkey projects will also be completed well before the stipulated deadline.

"The real estate sector in Turkey is on the verge of a major upswing due to the demographic factors and improving economic and political stability, and now is the time to invest."

Green Valley has units operating in the UAE, Qatar, Lebanon, Syria, Eqypt, Morocco and Turkey, according to its website.

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Please post responsibly. Commenter Rules

Posted by: Saleem

@ Red Snappa

Investing in Turkey is far better than investing in India whose politics is inherently flawed and self destructive.

Posted by: kingkaiser

Why the random bashing of India? Wasn't mentioned in his comment at all, and he's from ireland! Some people just need any excuse...

Posted by: Red Snappa

"Improving political stability", I think not given the recent turn of events! Ministerial resignations, sackings of prominent figures in the judiciary, value of the Turkish Lira in free fall etc, etc. Perhaps a more apt description would be "politically volatile".

Posted by: Telcoguy

The whole MENASA region can be aptly described as "politically volatile"(or in case of India risk comes from regulation) but I think the local players can somehow manage certain risks better than their western counterparts

Then of course you have those that clearly do not understand the risks involved (or rather ignore them while chasing the deal) but those tend to be more on my sector

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