Gulf investments in Turkey increased five folds

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Gulf investments in Turkey increased five folds

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Gulf investments in Turkey recorded an increase of five times comparing to the past three years.
The foreign investment law in Turkey, which was issued in 2012, raised the flow of investments from the Gulf Cooperation Council (GCC) by 500 percent, although 24 percent of Turkish properties sold to foreign buyers, are bought by investors from the Gulf countries.
And there is a significant trend by the Turkish real estate companies for the appointment of representatives to the Gulf countries to attract more investors and buyers Gulf.
The turkish company "Nurol Reit" appointed one of the the biggest Australian real estate agents, Raine & Horne in Dubai, to act as the lead agency in the Gulf Cooperation Council and managing a real estate portfolio valued at 3 billion AED in Istanbul ($ 817 million) .
Residential sales in Turkey increased 8.8 percent in October, compared to the same month of the previous year, amounting to 104,098, according to the data announced by the Turkish Statistical Institute (TurkStat) on Monday.
A total of 2,236 residential properties were sold to foreigners, indicating a 23.8 percent increase compared to the same month of 2014. Among the new owners of the residential properties sold to non-Turkish individuals, Iraqi citizens ranked first with 430, followed by Saudis with 325 and Russians with 191.
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