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Saudi Arabia’s 2 million Property Offer

Saudi Arabia property development
Nova Property

TOKI Mehmet Ergun TuranTOKI Chairman Turan stated that they had received requests for cooperation from around 90 countries, and said,

The Saudi Arabian authorities have asked us for assistance in order to meet the need for property development in the country. There is a need for 2 million units in the country. We will obtain the work and share it with the companies in our country. We are also discussing this with the organizations within the sector. They are also very keen on this. The system needs to be legally structured. However, the public sector also needs to be involved from now on. We need to create a business model of a public – private partnership.

An umbrella organization

Turan stated that TOKI would be an umbrella organization abroad. Turan, who said that they had held discussions with representatives from the sector concerning overseas contracting activities, and looked into how they can add the know-how of Turkey as a value to the country, stated that especially developing countries such as Afghanistan, Kazakhstan, Iran, Pakistan and Ghana wanted to visit Turkey, learn the TOKI model and enter into cooperation. Turan, who said that they produce an average of 50 thousand homes every year, stated that their target for 2016 was 60 thousand homes.

Under the close marking of the WB

Mr. Martin Raiser, the World Bank (WB) Director for Turkey, visited TOKI Chairman Ergün Turan and made a recommendation that international experiences should be shared. At the meeting between the teams, emphasis was made to the importance of obtaining the contributions of TOKI, within the scope of the “Sustainable Cities” project carried on by the bank in Turkey. Turan, who gave the World Bank team information on the current demand for properties in Turkey and the capacity of TOKI to meet this demand, described the corporate profile, financing model and projects of TOKI to Mr. Raiser, the World Bank Director for Turkey. An intention to combine the international experience of the World Bank with the experience of TOKI and develop several projects – which will be included in the “Country Strategy” – between TOKI and the World Bank in the coming period, as well as to generate common data in this area, was put forward as a result of the meeting. A consensus was reached to continue the discussions between the two organizations for the purposes of starting certain studies on housing and urbanization.

There are also offers from Pakistan and Iran

Turan, who also met with Shehbaz Sharif, the President of the State of Punjab in Pakistan, and Ali Rıza Jabbari, the Undersecretary for the Economy in Iran, separately, said, “They have big demands concerning the production of housing. We conveyed our knowledge and experiences. There will be visits between the committees in the coming periods, and discussions as to what can be done concerning cooperation.”

Request for cooperation from Kazakhstan

Turan, who also stated that Canseyit Tüymebayev, the Ambassador for Ankara of the Republic of Kazakhstan, had visited them, said, “Ambassador Tüymebayev also desires close cooperation with TOKI. He emphasized their admiration for the financing project implemented by TOKI as a public organization.” Canseyit Tüymebayev, the Ambassador of the Republic of Kazakhstan, stated that he had visited several of the building sites where TOKI is building social housing, and sought to obtain detailed information. He emphasized that they had requested close cooperation with TOKI in this sense, as well as an exchange of technical and financial knowledge.

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