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Türkiye’s state-run real estate investment firm, Emlak Konut, announced on Friday the establishment of its new subsidiary in Saudi Arabia, named “Emlak Konut Global LLC.”
The move follows cooperation agreements signed on December 2, 2024, between Türkiye’s Emlak Konut GYO and Saudi Arabia’s National Housing Company (NHC), as well as the Ministry of Investment (MISA), as part of a goodwill initiative to integrate Turkish expertise into real estate developments under Saudi Arabia’s Vision 2030 strategy.
According to a disclosure submitted to the Public Disclosure Platform (KAP), Emlak Konut Global LLC will operate as a wholly owned subsidiary. The company is set to undertake real estate development projects in Saudi Arabia, evaluate land potential, and support the progress of ongoing developments in the region.
Emlak Konut stated that the new entity is expected to play a central role in identifying and executing real estate opportunities across the Saudi market. The company highlighted that the launch aligns with its broader strategy to strengthen international operations.
The establishment of the subsidiary marks a significant milestone in Emlak Konut’s plan to extend its footprint into global markets. The company noted that further information regarding the subsidiary’s objectives, project pipeline, and operational scope will be shared in line with regulations of Türkiye’s Capital Markets Board.
The initiative is considered part of Türkiye’s broader efforts to deepen economic engagement with Gulf countries, particularly in the areas of construction and housing development.
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