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. 


Preventive protocols issued as Saudi Arabia moves to relax curfew further

Updated 30 May 2020

Preventive protocols issued as Saudi Arabia moves to relax curfew further

RIYADH: As Saudi Arabia moved closer to Phase 2 of the gradual relaxation of coronavirus lockdown rules, the Ministry of Interior announced precautionary measures and preventive protocols for several sectors to follow.

The preventive protocols, prepared by the Ministry of Health,  covers the period from 8 Shawwal to 28 Shawwal 1441 in the Hijri calendar, corresponding to May 31 to June 20, 2020 in the Gregorian calendar.

A ministry official said the protocols are provided for mosques;  the public; petroleum, petrochemical and gas and other industries; malls and retail centers, home delivery service, among others.

The preventive protocols can be found at: https://covid19awareness.sa/archives/5460.

The MOI urged all citizens, expatriates and concerned authorities "to implement these procedures and abide by their provisions in order to preserve the safety of all".

Also on Saturday, the acting minister of economy and planning, Mohammad bin Abdullah Al-Jadaan, said the gradual lifting of the curfew "represents a new stage in the face of the global pandemic crisis and towards a gradual return to economic activities in the Kingdom to its normal levels."
 
"The decisions were taken after continuous coordination between the Ministry of Health and the concerned authorities, relying on a focused plan that seeks to balance between procedures for reopening economic activities and maintaining the stability of health and social conditions," said Jadaan, who is also the Kingdom's minister of finance.

Al-Jadaan highlighted that the government has increased – during the last period through the state’s general budget – spending on urgent and necessary requirements to face the crisis.

It has significantly strengthened the financial allocations for the Health and related services sector.

The government also launched urgent support initiatives to mitigate the impact on the private sector, supporting the economy and to preserve the jobs of citizens in economic establishments, he said in a statement carried by the SPA.