: 2019-06-07 Modified date : 2019-06-10
Saudi King Salman bin Abdul Aziz al-Saud thanked Turkish President Recep Tayyip Erdogan for his efforts during his presidency of the Organization of Islamic Cooperation (OIC).
This came in a telephone conversation between them on Eid al-Fitr, where they exchanged congratulations.
According to sources in the Turkish presidency, Erdogan and the Saudi monarch discussed in their telephone conversation ways to develop bilateral ties between the two countries.
The sources added that the Turkish president and the Saudi monarch also discussed a number of regional issues of common interest between Ankara and Riyadh.
At the end of last month, Turkey handed over the periodic presidency of the Organization of the Islamic Conference to Saudi Arabia after receiving it in 2016.
The ambassador of Saudi Arabia to Turkey, Walid Al-Khuraiji, recently participated in the opening of the new office of the Saudi Trade Attaché in Istanbul amid a high presence.
Turkish real estate sector is considered one of the most commercial sectors that are attracting investors and Saudis in particular. Studies show that Saudi companies and investments registered a significant increase after Turkey adopted more laws and regulations that help to invest in many sectors such as tax cuts and other facilities that attracted investors significantly.
Over the years, Saudi Arabia has been one of the most foreign countries to invest in real estate in Turkey.
According to data from the Turkish Statistical Institute, Saudis real estate ownership in Turkey for 2017, for example, exceeded 3,300 properties by up to 100 % of 2016, thus Saudis were the second most foreign nationalities that owned the property that year.
In accordance with the 2012 law on foreign nationals entitled to own real estate in Turkey, the principle of reciprocity was reviewed on the subject of foreign ownership of the real estate in Turkey and the restrictions on the ownership of some foreigners including Saudi citizens were left. Thus, Saudis in Turkey can own real estate in Turkey without conditions.
Saudi nationality campaign has the right to own all types of properties in Turkey including apartments, villas, shops, commercial offices, stores, hotels, buildings, lands, farms and other types of residential and commercial properties.
Edited by: Imtilak Real Estate ©
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