Turkish Airlines expand in Saudi Arabia as its citizens seek out Turkey’s thriving property market

Turkish Airlines expand in Saudi Arabia as its citizens seek out Turkey’s thriving property market

  • Turkish Airlines launch new weekly flights to Jeddah, Riyadh and Medina in Saudi Arabia
  • Saudi buyers account for 9.5% of all Turkish property purchases to overseas citizens in March (TURKSTAT)
  • New flight routes make Turkey, and Istanbul, far more accessible to Saudi buyers and more desirable as a property investment location (Universal21)

Turkish Airlines, winner of the best airline in Europe award for the fifth consecutive year and ranked 4th best in the world at the 2015 Skytrax World Airline Awards, is planning to grow its global capacity by 21% in 2016. Building upon its spectacular growth of the last decade, the airline will expand its fleet from 299 aircraft at the end of 2015 to 339 by the end of 2016. As it increases its international presence, the airline is focused on its offering in the Middle East and has revealed plans to expand further in Saudi Arabia.

Currently, Turkish Airlines is operating in seven destinations in Saudi Arabia including Jeddah, Riyadh, Madinah, Dammam, Yanbu, Taif and Al Qassim. The airline recently launched seven weekly flights from Istanbul’s Sabiha Gokcen Airport to Jeddah and Riyadh and four weekly flights to Medina.

Turkish Airlines Jeddah General Manager Muhammed Bilal Doner commented that “New destinations are in the offing and the airline will very soon start operating direct flights to Trabzon (TZX) and Ankara (ESB) from Jeddah (JED), Riyadh (RUH) and Madinah (MED).” Turkish Airlines started its operations in Jeddah 37 years ago in 1979. Doner continued,

“Since [then] we have succeeded in inaugurated 6 more destinations and achieved tremendous growth over the years, distinguished by the services and products offered to our customers. All these developments are indicating the importance we attribute to the Saudi Arabian market and… we are seeking to inaugurate other destinations in the Kingdom.”

According to TurkStat’s most recent figures, buyers from Saudi Arabia accounted for 9.5% of all March’s property purchases to overseas citizens. Beaten only by Iraqi nationals who purchased 15.3%, Saudi Arabian investors remain a dominant nationality in Turkish property with a growing number of them looking to the city of Istanbul and its active housing market. TurkStat confirms Istanbul’s title as the favourite province for overseas buyers, accounting for 36.56% of all sales in March.

Adil Yaman, Director of Universal 21, the largest management company based in Istanbul, is confident in Turkey’s relationship with Saudi Arabia and the growing level of interest in Istanbul’s thriving property market. He explains,

“As one of our key client nationalities, we speak with potential investors from Saudi Arabia on a regular basis and would expect their interest in Istanbul’s housing market to continue to grow throughout this year. The new increase in flight routes make Turkey, and Istanbul especially, far more accessible to Saudi buyers and therefore even more desirable as a property investment location.”

One of Universal21’s most recently completed projects is Crest Plaza Residence. Situated in the Beylikdüzü district of Istanbul, Crest Plaza Residence is well-located for both transport links and amenities, with the beach just a ten-minute drive away and Istanbul’s Ataturk airport only a 20 minute drive away.

Formed of only two blocks of 11 floors and a total of 199 apartments, Crest Plaza Residence boasts a wide range of facilities including fitness centre, swimming pool, Turkish bath, steam room, sauna, health club, cinema room, meeting room, BBQ terrace, games room, library and children’s playground.

Starting at £60,000 with an easy payment plan there is a range of spacious one, two and three bedroom duplex penthouse apartments available. All either overlook the landscaped gardens or the newly appointed park soon to be completed and the project also has the benefit of 24-hour security.

For more information about Universal21, visit www.universal21.com or call 0203 287 8700.