The investments of 300 Saudi companies in Turkey reached SAR4 billion in several industrial, financial, commercial and real estate fields, according to a senior official.
President of the Saudi-Turkey Business Council, Mazen Rajab, says: “There are more than 200 Turkish companies operating in the private construction sector in the kingdom,” reports UAE-based Aliqtisadi.
Rajab adds: “The economic and investment relations between Saudi Arabia and Turkey over the past ten years have witnessed great prosperity, with trade exchange numbers exceeding three-fold to reach SAR30bn.”
He points out that oil and plastic products are the most important exports of Saudi Arabia, while steel is Turkey’s most important export.
The president of the Saudi-Turkey Business Council goes on to reveal that the real estate sector is the most attractive for Saudi and Gulf investments, where Saudis alone owned more than a million square metres until the end of last year, with signs of this number rising significantly this year.
(SAR1=AED0.98, at the time of publishing)