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Thu June 24 2021

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Turkey eyes Norway for $50bn housing investment

18 Jun 13 The Turkish government has said that it is vying to secure the US$50bn (£31.8bn) that Norway plans to channel into global real estate markets as part of plans to build more than half a million new houses a year.

President of the Turkish Housing Development Administration (TOKI) Ahmet Haluk Karabel led a delegation to Norway. Karabel said the amendment made to the law last year has facilitated the acquisition of real estate by foreigners in Turkey. TOKI is the sole government institution specialising in housing projects and Karabel said that it could assist investors.

He said that more than 500,000 to 600,000 houses should be built each year and that the total amount invested by the public and private sectors in housing in 2012 was US$70.6bn.

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