Do you think the relations between Saudi Arabia and Turkey are old or new ? What are those relationships? What are their causes?
The editorial team at Hana Real Estate Company through this article will inform you of all the details related to relations between Saudi Arabia and Turkey and will refer to many aspects related to this topic.
We wish you a pleasant reading.
Age of the relationship between Saudi Arabia and Turkey:
First of all, you have to know that relations between Saudi Arabia and Turkey are not new today, and its age is about to touch the hundred years. What you do not know is that they have very close relations at the political level, and they are therefore based on historical and cultural relations. It began in 1929. In order to strengthen these relations, the important figures and leaders of the two countries have worked to strengthen it recently in order to establish cooperation and establish close relations at the political, economic and cultural levels.
What were the relations between the two countries like:
It was represented in contacts between Turkish President Recep Tayyip Erdogan and King Suleiman of Saudi Arabia. This was precisely last year on 4 May 2021, in which they talked about strengthening bilateral relations and on many common issues that would raise the level of the two countries and keep them at peace at various levels to achieve lasting development.
On April 28, 2021, Turkish President Recep Tayyip Erdogan make a visit to the Kingdom of Saudi Arabia and met with King Suleiman and the Crown Prince. This was after an interruption that lasted for years. According to a statement by the Turkish President, his visit to Saudi Arabia was only a desire to develop and strengthen relations between the two countries and that development between them will not be limited by any borders, but on the contrary will develop in various fields and at all levels.
On May 4 and 24 of the same year, Çavuşoğlu was in contact with his Saudi counterpart, the relations between the two countries, and they talked about the possibility of developing them. Also, during a telephone call between the Turkish President and the Saudi Crown Prince, many regional issues affecting the interests of the two countries were discussed.
fields in which Turkey and Saudi Arabia will cooperate:
In fact, the framework of cooperation between the two countries will not be limited to a specific field or sector, but will be in many sectors and areas, the most prominent of which are:
- petroleum and refining it.
- It should be noted that, due to their scope, some projects could be classified in several categories.
Reasons for the return of relations between the two countries:
It cannot be overlooked that relations between the two countries are not the result of the Covenant, but on the other hand, there must be many reasons that prompted and encouraged the two countries to consolidate the existing relations between them, especially during the current period. On the Turkish side, Turkey seeks to attract the largest possible number of foreign and Arab capital to it in order to achieve development and excellence in its various sectors and fields in order to promote the growth of its economy and to intervene in the Big Ten Club during the coming period, and this is among the many strategic plans that it has developed.
On the Saudi side, it has found a set of reasons that motivate and encourage cooperation and the restoration of relations between the two countries, including:
- Turkey’s buoyant economy, which is growing with a steady plan all the time.
- The infrastructure that the Turkish government pays special attention to and works to develop continuously.
- The impossibility of building any investment project in the countries of the Middle East in light of the many wars and crises that countries are witnessing.
- Turkey is the right place to build and establish a lot of profitable investment business without any limits.
- Turkey generally allows foreigners to buy and own real estate on its land with complete ease and without any complications such as those that the European Union countries put before them.
- Real estate prices in Turkey are low compared to other countries around the world.
- The desire to obtain real estate residence permit, which is the legal means of residence in Turkey.
- Obtaining Turkish citizenship, which is one of the strongest in the world.
- The established security situation in Turkey.
- Safe life, modernity and sophistication, which are represented in various aspects of life.
Does Saudi Arabia Invest in Turkey’s Real Estate?
Saudi nationals are considered to be among the most owned Arab nationalities in Turkey, as stated by the concerned authorities. It should be noted that their research is especially focused on luxury properties with a high urban character such as palaces and villas with high prices.
Some choose to stay there and others choose to buy real estate in Turkey in order to stay there only during the tourist seasons, but in general Turkey is a focus of attention for them and it is expected that the coming days will witness more Saudi arrivals to Turkey.
What you does not know is that the improvement of relations is not limited to being between Saudi Arabia and Turkey, but the Turkish state is intensively working to make its relations between it and many Arab countries, especially the United Arab Emirates, which recently pumped a lot of capital and millions of dollars into Turkey, as well as there is a strengthening of relations between Turkey and Qatar.
To learn more about the latest news of the real estate market in Turkey, we advise you to follow our website on an ongoing basis because we monitor you with all the latest developments and recent updates that you are interested to know.
Many investment opportunities are offered by our real estate consultants. Contact us now and do not hesitate to get the opportunity you deserve with the studied standards that help you reach the success you dream of.
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