Imtilak Properties

Turkish newspaper Hurriyet published an article on the Turkish-Gulf relations, which dealt with the relations between the UAE and Turkey in many fields. The study pointed out that UAE is striving to maintain its strong relations with Turkey.

Studies in this context indicated that there is a large number of investments between the two countries, in addition to the speed of investments and the volume of mutual trade between them. It is known that Turkey plays a great role in maintaining peace and friendship in the Gulf region, and strives to support the countries of the region to obtain their support permanently.

Turkey and the United Arab Emirates signed a joint memorandum of understanding (MoU) for the establishment of a joint UAE-Turkish Business Council last May. The council is set to develop links with Turkish business sectors and exerting efforts to attract Turkish investment in the country's competitive economic sectors, according to the Government's vision of 2021. In the same way, the UAE investments in Turkey will increase in accordance with the vision of the Republic of Turkey in 2023.

Reports indicate an increase in the volume of UAE investments in the tourism and real estate sectors and the expansion of hotel and resort construction in many tourist areas in Turkey such as Antalya, the Mediterranean region in general, Trabzon and the Black Sea region.

The volume of mutual investments between the UAE and Turkey has reached more than $ 15 billion, and there has been a significant growth in the volume of investments in tourism and real estate sectors.

Last year, Emiratian Company has opened a park in the Turkish city of Antalya, covering an area of 639,000 square meters. The investment value of this project has reached more than US $ 1 billion.

As for trade relations between the two countries, Turkey's total exports to the UAE amounted to $ 4.6 billion, while UAE exports to Turkey amounted to $ 2.3 billion in 2016. In addition to the mutual investments mentioned above, which reached more than $ 15 billion.