Kuwaiti investors are the second largest property buyers in Turkey

Kuwaiti investors are ranked second, after Iraq, for property purchases in Turkey, with a total of 8,442 properties acquired over the past seven years, according to the Turkish Statistical Institute.

Iraqi investors have bought a total of 36,391 properties in Turkey, and other countries that are on the Turkish institute’s list of top property buyers are Saudi Arabia, Qatar, Jordan, Egypt, Yemen , Lebanon and Sudan.

Meanwhile, in a meeting held last month between the Union of Investment Companies (UIC) and the Turkish delegation in Kuwait, Abdullah Hamad Al-Terkait, Vice President of UIC, underlined the importance of investment opportunities between the two countries, particularly in the tourism and real estate sectors, placing bilateral investment figures in 2020 at $800 million, while the value of Kuwait’s direct investments in 2022 in different sectors in Turkey was 2 billion dollars.

Tourism in Turkey has seen strong investment with 246,000 people visiting the country from Kuwait last year.

Kuwaiti real estate owners are also offered several incentives for Turkish real estate transactions, such as the opportunity to obtain Turkish citizenship for real estate ownership of properties worth $250,000 in the country.

(Writing by Jethu Abraham; editing by Seban Scaria)

(seban.s[email protected])

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