Real Estate Investment Trust Takes a Bold Step Toward Collaboration with Saudi Arabia

Emlak Konut Real Estate Investment Trust (EKGYO) has drawn attention by signing an important collaboration with the Saudi National Housing Company.

The Goodwill Agreement, signed during a ceremony held in Riyadh on December 2, 2024, aims to integrate Turkey's expertise in construction and real estate into Saudi Arabia's large-scale projects. This agreement, which serves as a bridge between Turkey and Saudi Arabia, was organized with the coordination of the respective ministers; Turkey's Minister of Environment, Urban Planning and Climate Change Murat Kurum and Saudi Arabia's Minister of Municipal and Rural Affairs Majid bin Abdullah Al-Huqail.

The agreement seeks to create new opportunities in the construction sector in line with Saudi Arabia's Vision 2030 strategies. Emlak Konut plans to take a leading role in housing projects in Saudi Arabia while also supporting the presence of Turkish contractors in the Saudi market. The agreement is not limited to current projects but also includes Emlak Konut's plans to establish a subsidiary company in Saudi Arabia.

This critical collaboration is seen as a strategic move for Emlak Konut to increase its influence on the international stage. This step aims to strengthen the investment environments of both Turkey and Saudi Arabia, further deepening the economic cooperation between the two countries. The agreement is expected to pave the way for broader cooperation projects in the construction and real estate sectors.