Qatari group will invest 500 mln USD in Turkey

ISTANBUL (A.A) - November 24, 2011 - A Qatari group is planning to construct alternative tourism facilities, that serve in compliance with Islamic rules and traditions, in Turkey with at least 500 million USD investment. A member of the executive board of Retaj investment group said on Thursday that the group decided to invest in Turkey as Turkey had become the 16th biggest economy in the world and sixth in Europe.  "We are seeking strategic partners in Turkey, and we are holding negotiations with Koray construction company," Mohammed Bin Johar Al-Mohammed told AA correspondent in Istanbul. Al-Mohammed said the group also aimed to make joint investments in Qatar and other countries with its Turkish partners. The group was ranked the first in alternative tourism facilities in Qatar, and the second in overall hotels, Al-Mohammed said.  Al-Mohammed said the group was eager to invest in Istanbul, and the northwestern province of Bursa could be another place where they could invest.  Established in 2004 with prime objective of becoming a strong real estate and hospitality player in Qatar, Retaj is a private limited liability company with its registered office in Doha, Qatar. In addition to the classic real estate services of project development and management, property leasing and subleasing services, Retaj has expanded its areas of business to include Real Estate brokerage and Hospitality. The group is operating in six countries, and owns six hotels in Qatar and 14 hotels in some other countries.