Government raises alarm, as fraudsters take over real sector

chika ebuzor

June 27, 2015 9:32 AM

Saudi investors have been swindled, while trying to purchase properties in choice areas in Instanbul.

Turkish Flag.

To preserve the long standing friendship and cordial business relationship between Turkey and Saudi-Arabia, moves have been taken to protect investors from the oil rich nation.

The Turkish Consul General in Jeddah, Fikret Ozer, has issued an official warning to investors seeking to buy properties in Turkey, to seek clearance from the consulate.

Adding that there are numerous cases of Saudi investors that have been swindled, while trying to purchase properties in choice areas in Instanbul.

Speaking on the same issue, Mohammed Al-Marool, Director of the Media and Public Relations Department at the Ministry of Interior, said ‘the ministry received a notice from the Ministry of Foreign Affairs urging citizens seeking to invest in Turkey or purchase property to first contact the Saudi embassy or consulate in Istanbul.’

Sharing an incident, Ozer said 'In one case, a Saudi citizen filed a complaint against an agent who was tasked with purchasing a residential apartment, but the apartment turned out to be different from the one agreed upon.'

He also advised that prospective investors should check the background of real estate agents, with the relevant Turkish authorities, and also confirm that the building has been approved.

chika ebuzor