Turkish-Emirati relations and Emirati investments in Turkey

Created: 2022-02-23
Last Updated: 2024-05-08
Views: 1503

Content Index

Are relations between Turkey and the UAE recent?
The most prominent agreements signed between the UAE and Turkey:
Istanbul, the destination for Emirati investment in Turkey:
The areas in which UAE investors invest in Istanbul:
Reasons for Emiratis to own property in Turkey:
Important information about Emiratis’ ownership in Turkey:
Important tips for those wishing to own real estate in Turkey:

Recently, there has been a lot of talk about the relations between the Turkish state and the UAE because of the agreements that have been signed between the two countries and the businesses that are being organized for them. Based on that, we found it important to refer to this topic through an article we prepared for you to discuss all the details and information related to this matter, where you will find all the answers to your inquiries.

Are relations between Turkey and the UAE recent?

You may wonder about this connection between the two countries, whether it is recent or old. We can tell you that this relationship was born more than twenty years ago, as Turkey began to make good relations with many Arab countries, and with the UAE, relations witnessed a great prosperity represented in the volume of trade exchange.

The relationship between them is still in constant development, and recently several agreements were signed aimed at development and cooperation.

The most prominent agreements signed between the UAE and Turkey:

Only a short time ago, a set of agreements were agreed upon between the two countries in various fields, including health and investment. We must point out that these agreements are expected to improve the economic situation and create a strong future.

These agreements and the new emerging relations between the two countries are only the beginning towards a stronger start, as it is expected to expand in the coming days.

1 - Trade exchange between the UAE and Turkey:

According to expectations, import and export volume will increase between these two countries in the coming days, and the volume of Turkey's exports to the UAE will increase in the field of metals and electrical machinery, and the UAE's exports to Turkey will be in the field of oil, oils, jewelry and gold.

2 - In the field of energy:

The UAE will not find better than the Turkish state until it exports oil to it, because it always needs energy sources because it does not produce it, and although it relies on several other means to produce energy such as wind energy, it is indispensable to oil and its derivatives.

3 - In the field of politics:

Within the scope of the political relations between the two countries, solutions will be found for all the problems they suffer from, but in general, these two countries have kept political differences away from affecting the economic field.

4 - In the field of environment:

Turkey is known for its development in the field of the environment, in fighting pollution, containing fires, and so on in other areas, so the UAE state can benefit from its expertise to develop its technologies in this field.

Istanbul, the destination for Emirati investment in Turkey:

Istanbul has been able to be a main destination for UAE investors after all the development and superiority that this city has achieved in its economic aspect, as it guarantees the investor the level of safety that will be required for this investment in addition to the success that he will achieve.

One of the most prominent motives that encouraged Emiratis to invest in Istanbul is the great urban development witnessed by the city of Istanbul and the great modernity in its real estate aspect. This city includes many real estate projects and residential complexes.

Real estate prices in Istanbul, compared to real estate prices in Europe or America, are low in addition to the high quality according to which they are designed.

The areas in which UAE investors invest in Istanbul:

Buyukcekmece is one of the favorite areas for Emiratis, who are searching for luxury apartments with wonderful sea views and villas with a luxurious architectural construction. They also have a presence in the Camlıca area, as they built a distinguished real estate project that won the award for the best multi use Emirati building in Europe.

According to reports, the volume of Emirati investments is increasing and is concentrated in restaurants, cafes, hotels and villas that are located in tourist areas.

Reasons for Emiratis to own property in Turkey:

He stressed that there are many reasons behind the choice of Emiratis to own real estate in Turkey, as these properties were for them a profitable investment in light of all that Turkey is witnessing from a comprehensive renaissance in various sectors.

1 - Turkey has been an important alternative to the countries of the Middle East, which suffer from crises, economic collapses, and fluctuations in the political situation.

2 - The geographical location of the Turkish state was one of the main reasons that encouraged many holders of Emirati citizenship to own real estate in Turkey and invest in real estate.

3 - The significant growth achieved by the Turkish economy in addition to its steady movement, which made it among the first ten economies in the world.

4 - For ten years and until the present moment, the Turkish government has been working to launch many laws, regulations and facilities in order to attract foreign investments, such as tax reduction. There are projects that are guaranteed by the Turkish government, in addition to the fact that the property must be purchased in Turkish lira in particular.

5 - Real estate in Turkey is their chance to obtain real estate residency, which the owner of the property and all members of his family obtain.

6 - Turkey has many promising areas suitable for starting a real estate investment project, which constitute a safe environment for keeping money away from price fluctuations.

7 - UAE investors seek to take advantage of the depreciation of the Turkish lira against foreign currencies.

8 - Many expectations indicate that this year, real estate prices will witness a significant increase in their prices due to the increased demand for them.

Important information about Emiratis’ ownership in Turkey:

Despite the many facilities provided by the Turkish government to all Arabs and foreigners who wish to buy real estate in Turkey, this does not prevent that there are some important laws that must be adhered to and familiarized with before anything else.

Through the following paragraph, we will inform you of the general conditions that must be adhered to when buying real estate in Turkey.

- Foreigners cannot buy more than thirty hectares.

- No foreigner can buy real estate in an area where foreign ownership exceeds ten percent.

- Foreigners are not entitled to buy a property or apartment in Turkey located within a security or military zone.

Important tips for those wishing to own real estate in Turkey:

In the following paragraph, let us provide you with a set of important tips and advice that you will need when you are about to buy a property in Turkey, especially if it is the first time.

In this context, it must be noted that not only the Emirati investor, but also everyone who wants to buy real estate in Turkey will need some important information and advice that will help him make the ideal choice that meets his goals and ambitions.

1 - Verify the legal status of the property:

The first step and in order to guarantee your rights, it is necessary to see and verify the legal status of the property and that there are no problems arising from it, As for those problems, they are either a mortgage or a real estate seizure or similar details, which you may initially think are not the biggest problem, but in fact, they have negative dimensions on the value of the property and its investment future as well.

2 - Research the real estate market well:

Do not make your complete dependence on the real estate company that you deal with only and on the offers that it presents to you, but ask the people in charge of it to take you on a long and wide tour within the real estate market in Turkey to visit the most important projects available and see the most important offers available.

What you do not know is that through this tour, you will discover many details related to this market in terms of specifications and prices, and therefore you will choose what suits you very easily.

3 - Checking out the future of real estate investment:

After you have chosen the right property for you, you should ask about the investment future of the area in which the property is located

- Are prices expected to rise?

- Or will it remain stable?

- Are there infrastructure projects near the area?

- Are any important projects scheduled to be built in or near it during the coming period?

- All this information helps you to decide if this area is really suitable for you or not?

In this context, it must be noted that despite the expectations that indicate a rise in real estate prices in Turkey during the coming period, the rate of increase is not uniform in all cities or governorates, but the matter varies in large proportions from one city to another. For example, real estate prices in Istanbul differ greatly from others, and add to your information that the rate of increase in prices within Istanbul also varies.

(During the past three years, the Basaksehir region recorded an increase of up to 45%, while the Silivri region or any other rural area had a very slight increase).

Many reasons encouraged UAE investors to make Turkey a safe haven for them. We hope that what we have provided is sufficient to answer your questions. If there is any information you would like to know, just contact us to let you know everything you want to know about the real estate market in Turkey and its latest developments.

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Turkish-Emirati relations and Emirati investments in Turkey

Are relations between Turkey and the UAE recent?

The most prominent agreements signed between the UAE and Turkey: