Turkey ready to build 800,000 Saudi housing unitsby 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.
- Iran: 20 firefighers dead after high-rise collapse
- Macro wins international SCB contract
- Building renovations can save 50% of energy costs
- DEWA signs MoU with Électricité de France
- Arabian Cement net profit drops 84% in Q4 2016
- Dhofar Global expects 50% growth in GCC this year
- Jafza introduces changes for easier business
- Etihad ESCO retrofits over 2,000 buildings in 2016
- Qatar's Hamad Airport awarded ‘5-star’ by Skytrax
- UAE: Imdaad earns $136m in revenue for 2016