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Turkey ready to build 800,000 Saudi housing units

by Hadi Khatib on Mar 5, 2016

Turkish Deputy Prime Minister Mehmet Şimşek has expressed his country's willingness to build homes in Saudi Arabia.

Speaking on the side-lines of the Jeddah Economic Forum, Şimşek said Turkey could provide up to 800,000 housing units in the Kingdom within 10 years - if asked to participate in Saudi projects.

"We were able to build 650,000 units in Turkey within six years," he told Saudi Daily Al Iktisadiah

Şimşekn said his country is willing to increase the level of investments in the Kingdom, which currently stands at $30bn.

Saudis are already investing $15billion in Turkey, and seeking to double this amount in the future with investments focused in power, telecommuniactions and real estate - the former adding up to $6bn. 

There are close to 800 Saudi companies investing in various economic sectors in Turkey.