This is why, Turkey prefers Arab investors?

1. This is why, Turkey prefers Arab investors? - This is why, Turkey prefers Arab investors? goodreads.com/story/show/1268283-this-is-why-turkey-prefers-arab-investors The figures of Arab real estate investments during the past few years reflect the great interest and facilities granted by the Turkish government to investors from the Middle East countries, the Gulf and the Maghreb in particular. Turkey has turned during the last ten years to the first tourist, economically, and real estate destination of the Arabs, as the rush to buy properties in Istanbul, Trabzon, Bursa and Antalya as main destinations, it grows day after day, and it is not limited to one buying process, as some investors who bought property for the purpose of ownership became competing traders In the Turkish real estate market, their wealth multiplied in a few years due to the great dynamism and mobility witnessed in the activity of buying and selling property in Turkey, which ranked it among the best suitable environments for real estate investment in the world and promising in the real estate sector in the future. There are a lot of motivations that were the reason behind the Arab investors' ownership of property in Turkey, such as the strategic location, natural and historical beauty, economic stature and strong infrastructure, but what must be known also is that among the most important factors that contributed to attracting Arabs and attracting them strongly to ownership in Turkey are the facilities that The Turkish government and the private sector have approved it in all procedures for buying a property in Turkey. In what follows, we will list for you the most important points that Turkey has included in the procedures of owning real estate specifically for Arab investors in order to increase the percentage of their purchase of real estate in Istanbul and others: The adoption of a law that abolishes reciprocity, as it was previously required for foreigners wishing to purchase apartments in Turkey or any other type of property that their countries allow the Turks to purchase property in them until Turkey in 2012 issued a decision allowing any foreigner to "own property in Turkey" without taking into account consideration of the reciprocity law even if the countries of the investor do not allow the Turks to own properties in them and hence a real renaissance has begun in the real estate sector in Turkey in which the foreigners' purchase rates of properties have grown in a standard year after year as it reached in the first year by 25%, and Turkey's first customers turned from Europe to the Arab world, so do Only three years of the adoption of the text of the abolition of reciprocity, Iraq topped the list of most foreign investors buying property in Turkey, followed by Saudi Arabia, who maintained their position for more than five years, respectively. Take advantage of obtaining a real estate residence with the ease of renewing it for every Arab who owns the property in Turkey, whatever the value of his investment in 1/2

2. addition to his ability to give it to his family members, which made thousands of Arabs, especially from the Middle East and Gulf countries, reside in Turkey according to the real estate residence that entitles them to practice many tasks, including opening investment projects and enjoying all rights such as the Turks, except those related to political powers, such as opening parties, voting and participating in referendums, and others. Benefiting from the decision to abolish the value-added tax, as Turkey is one of the few countries in the world that exempted foreign property buyers from value-added tax according to a law passed by the Turkish Parliament in 2017 for expatriates and foreigners wishing to own property provided that the property is paid through Turkish banks and foreign currencies and this decision continued until March 2019, which led to a large demand for the purchase of the property by the Arabs, given that the abolition of the value-added tax, which ranges from 1 to 18% of the property price depending on its type, region and level of construction, formed a positive point that contributed to raising the percentage of the sales of property in Turkey etc. Benefiting from the positives of selling properties pricing in Turkish lira only, as Arab investors can buy a property worth 70 thousand dollars after they were buying it earlier at 100 thousand dollars due to the low value of the lira against the dollar, and the stabilization of property prices in Turkish lira has also helped protect Turkish investors who They were affected by the effects of the decline in their local currency, and at the same time, the Arabs were able to benefit from the move thanks to the maintenance of the property at its original price in Turkish lira in exchange for the devaluation of the currency, which was reflected positively on the Arab investors who were dealing in dollars. Obtaining Turkish citizenship and benefiting from the advantages of the Turkish passport is one of the biggest incentives that encouraged Arabs to possess power in Turkey, especially with the unstable security situations witnessed by many Arab countries and the need for these to a stable country like Turkey that provides them with citizenship and guarantees them a safe and successful investment that doubles their financial wealth Here, many businessmen and wealthy Arabs poured into Turkey who transferred their business and commercial activities to Turkey, as it is the most fertile environment in the Middle East region for profits. Extensive participation and strong presence in international real estate exhibitions where Turkey is always working to highlight the aesthetic of its real estate designs in all countries of the world, including the Arab countries, and the activities that Turkey has participated in or organized in recent years have enabled the number one destination for Gulf investors due to the incentives provided to them, whether with regard to prices or other benefits . Turkey continues its policy of attracting Arab investments by updating the legal legislation package in favor of doubling the number of Arab investors in its various regions. 2/2