Analysts see Arab investors headed to Turkey

Pulling back from the turmoil-hit Middle East and North African, Arab investors from such countries as Kuwait, Qatar and the United Arab Emirates are stepping up to invest in Turkey's growing property market, according to analysts. "The Kuwait Investment Authority (KIA), Qatar Investment Authority (QIA), and Abu Dabi Investment Authority (ADIA) plan to make major investments in office blocks, residences, hotels and shopping malls in Turkey," said Avi Alkas, the chairman of global real estate services firm Jones Lang LaSalle, on the sidelines of an Istanbul press conference this week. ADIA has more than $600 billion in assets across the world, while KIA is estimated to have in excess of $200 billion and QIA $60 billion. "Economic instability in Europe and turmoil in the Middle East and North Africa encourage investors to make major investments in Turkey," Alkas added. Last year Turkey posted 8.9 percent growth, one of the highest figures among Organization for Economic Cooperation and Development (OECD) and G-20 countries.