Numu Capital managing director and chief executive Abdulrahman Telfat welcomed the opportunity to work in the Turkish market. “Turkey is a very attractive market for us, and we want to be pioneers there,” he said.
Turkish prime-ministerial adviser Abdurrahman Ilhan said the Justice and Development Party government placed great importance on attracting foreign investment. Reforms implemented in the previous period had contributed to this, he said, and further reforms were planned.
Ilhan described establishing the fund as a first step to be followed by concrete measures and stressed the importance of cooperation between Turkey and Saudi Arabia.
The Turkish–Saudi fund is expected to contribute to investments worth $500 million in Turkey in its first phase.
Turkish real estate investment companies Mirosa and Gulf, together with Saudi investment firm Numu Capital, signed an agreement to establish the first Turkish–Saudi Real Estate Investment Fund. The initiative aims to facilitate and speed up Saudi investors’ property purchases in Turkey.
Anadolu Agency reported that the fund was worth $500 million. The agreement was signed under the auspices of the Turkish Prime Minister’s Office at a meeting in Istanbul on Thursday attended by Saudi and Turkish businesspeople.