Embassy in Ankara warns Saudi investors

A Saudi Arabia flag flies in front of the Saudi consulate in Istanbul on October 13, 2018. (AFP)
Updated 19 May 2019

Embassy in Ankara warns Saudi investors

  • Cases reported to the embassy include not receiving a title deed or receiving mortgage-restricted titles, “in addition to preventing them (Saudis) from entering their houses

JEDDAH: The Saudi Embassy in Ankara on Friday posted a warning for Saudi real estate investors in Turkey on its official Twitter account.
The embassy said it had received a high number of complaints, some about fraud, from Saudi investors in Turkey’s real estate market.
Saudis wishing to buy property or invest in Turkey are urged to contact the embassy and consulate first to provide them with sufficient details in order to preserve their rights.
Cases reported to the embassy include not receiving a title deed or receiving mortgage-restricted titles, “in addition to preventing them (Saudis) from entering their houses despite paying the full value of the property and receiving threats from construction companies,” the embassy said.
It urged investors to contact the embassy to learn about legal procedures and the credibility of companies operating in the field.
Many saw Turkish real estate as a good opportunity amid the country’s economic turmoil in 2018, dramatic fluctuations in its currency, and recently eased restrictions on foreign buyers.
The number of properties sold to foreigners jumped 87 percent at the start of 2019 compared to the same period last year, according to the Turkish Statistical Institute, TRT English reported in April.
Kate Everett-Allen, head of international residential research at the estate agency Knight Frank, told Arab News that Gulf buyers are mainly from Iraq and Saudi Arabia, with a smaller number from Kuwait and Iran. 


First pilgrims leave under Eyab initiative

Updated 18 August 2019

First pilgrims leave under Eyab initiative

  • Al-Amoudi toured the exhibition dedicated to welcome Eyab’s beneficiaries

Saudi Minister of Transport and Chairman of the General Authority of Civil Aviation (GACA), Dr. Nabeel Al-Amoudi, oversaw the departure of the first 

group of pilgrims under the Eyab initiative on Saturday together with GACA President Abdulhadi bin Ahmed Al-Mansouri.

Eyab seeks to improve services provided to pilgrims, with the authority aiming to enrich pilgrims’ experience at the Kingdom’s airports. It is expected to benefit 30,000 pilgrims during this year’s Hajj season.

Al-Amoudi toured the exhibition dedicated to welcome Eyab’s beneficiaries, inspected the services available and received a briefing from the initiative’s officials.

GACA started an experimental implementation of Eyab this year, aimed at pilgrims returning to Indonesia, India and Malaysia through Jeddah’s King Abdul Aziz International Airport and Madinah’s Prince Mohammed bin Abdul Aziz Airport.