Mr. Abdulfattah Marafie – Chairman & Managing Director at Al Tijaria Real Estate Company has stated that the company entered a new investment in the Republic of Turkey for an amount of $10m.
The Turkish market is considered one of the strongest producing and exporting markets in agricultural crops in the world.
In this regard, he stated: “Entering this investment was through a special purpose company in alliance with other investors. The main objective of this investment is buying and developing pre-targeted farmlands in an area of 10 Million m2.”
In the same context, Al Tijaria Real Estate Company has taken the needed safety procedures required to preserve the rights of its shareholders while maintaining the lowest risk levels and taking into consideration a Conservative Exit Policy.
The investment period is 8 years from the date of starting the project with the possibility of extending 2 more years for completing the process of exit. The investment begins with two years of developing and cultivating the land, then 6 years to produce the agricultural crops.
The salient feature of this investment is the existing need and demand from Turkish and international markets for such products. In addition to that, Al Tijaria has partnered with one of the international companies specialized in the production and exporting of concentrated juices which in turn will buy and market the agricultural crops resulting from this project.
He also added: “This type of investment comes within the company’s policy in investing in good and various projects in terms of sectorial or geographical distribution where all the company’s investment results in good returns and in stable markets which gets along with the conservative policy of risks management adopted by the company’s board members in addition to adding a value to the shareholders rights.”