Turkey draws 30 bln USD investment from Gulf countries in decade

ISTANBUL (A.A) - February 6, 2012 - Turkey has drawn 30 billion USD of investments from Gulf countries in a decade, according to executives of Gulf-Turk Capital investment company. Gulf countries, including Saudi Arabia, United Arab Emirates (UAE), Bahrain, Kuwait, Qatar and Oman which own rich oil and natural gas resources, are getting more and more interested in investing in Turkey each passing day. Gulf funds amount to 2.5 trillion USD, while their foreign investments are over 1.8 trillion USD.  Developed countries like the United States and European states have been interested in investment funds in Gulf countries to cut down their liquidity deficit. However, Gulf funds tend to be interested in more secure and attractive "Turkey projects" as they are affected by mortgage crisis in the United States and political uncertainties in Middle Eastern countries. Executives of the investment company think that Turkey can draw 30 billion USD of capital from Gulf funds in coming three or five years, and those funds can be directed to public works, energy, health, real estate, industry and infrastructural projects. Some of direct investments that have come or are expected to come to Turkey from Gulf countries are: - Ekol Lojistik, to which Invest AD, the biggest investment company in Abu Dhabi, has become a partner by purchasing 37 percent of the company's shares, will make 50 million Euro investment. - Kuwait Investment Authority has purchased Cevahir Business Center. - UAE-capital PJSC Group has purchased a plot in Istanbul's Anatolian side in return for 400 million USD after completing Toscana Valley Project. - SAMA-Emaar Properties aims to invest some 5 billion USD in Turkey and focuses on health, shopping mall, hotel and real estate industries. Sama Dubai Holding has bought IETT Parking Lot plot in Istanbul's Levent neighborhood in return for 980 million Turkish liras excluding VAT. - Abraaj Capital has become a partner of Acibadem Hospital and yachting company Numarine. - Dubai Islamic Bank opened representation in Turkey and will invest in finance, dwelling and energy industries. - Kuwaiti investment group, The International Investor, has purchased 75 percent of shares of car rental company Docar in return for 24 million USD. - Arab Bankin Corporation has opened representation in IStanbul. - ABC, which is a joint venture of Kuwaiti Finance Ministry, Libya Treasury Secretariat and Abu Dhabi Investment Authority, will invest in Turkey. - Lebanese Oger Telecom bought Turk Telekom in return for 6.5 billion USD. - Kuwaiti Alshaya Group has brought Starbucks Coffee, The Body Shop, Topman, Topshop and Vero Moda brands to Turkey, and is planning to make 100 million USD more investments in three years. - Kuwaiti International Leasing Investment set up Halic Leasing with 5 million USD capital. - Dubai Islamic Bank purchased MNG Bank. - Dubai's DMCC is planning to enter finance, dwelling, energy, gold and tea markets in Turkey. - Saudi Arabia's biggest bank, The National Commercial Bank has become a partner of Turkey Finance. - Kuwaiti investment group, The International Investor bought Adabank. - Kuwait Investment Authority Fund purchased 10 percent of Halk Bankasi. - Kuwaiti investment group, Turkcapital, bought 92 dwellings and 9 villas from Idealist City, 21 villas from Toscana Valley, and 65 percent of Otoland Filo Kiralama Corporation. - Kuwaiti NBK Capital Equity Partners purchased Yudum Gida Sanayi ve Ticaret Corporation, and then sold it to Saudi Arabian Savola Group.  - Kuwaiti Alamana Industries bought 61.19 percent of Izocam in return for 171.3 million USD.