Turkish Airlines expansion lifts Saudi Arabia interest

Turkish Airlines is expanding its presence in Saudi Arabia. The company, which has won the award for best airline in Europe for the fifth year in a row, is planning to grow its global capacity by 21 per cent in 2016. Part of that growth will see the airline expand its existing presence in Saudi Arabia.

Currently, Turkish Airlines is operating in seven destinations in Saudi Arabia including Jeddah, Riyadh, Madinah, Dammam, Yanbu, Taif and Al Qassim. The airline recently launched seven weekly flights from Istanbul’s Sabiha Gokcen Airport to Jeddah and Riyadh and four weekly flights to Medina.

Now, Turkish Airlines Jeddah General Manager Muhammed Bilal Doner confirms that new destinations are in the offing, with flights soon starting to Trabzon (TZX) and Ankara (ESB) from Jeddah (JED), Riyadh (RUH) and Madinah (MED).

Turkish Airlines started its operations in Jeddah 37 years ago in 1979 and has enjoyed strong growth since then. The Turkish property market has seen similar success. According to TurkStat’s most recent figures, buyers from Saudi Arabia accounted for one in 10 (9.5 per cent) of all property purchases to overseas citizens in March 2016, behind only Iraqi nationals, who accounted for 15.3 per cent of sales.

TurkStat confirms Istanbul is the favourite province for overseas buyers, accounting for 36.56 per cent of all sales in March.

Adil Yaman, Director of Universal 21, the largest management company based in Istanbul, is confident in Turkey’s relationship with Saudi Arabia and the growing level of interest in Istanbul’s thriving property market.

“As one of our key client nationalities, we speak with potential investors from Saudi Arabia on a regular basis and would expect their interest in Istanbul’s housing market to continue to grow throughout this year,” he comments. “The new increase in flight routes make Turkey, and Istanbul especially, far more accessible to Saudi buyers and therefore even more desirable as a property investment location.”

One of Universal21’s most recently completed projects is Crest Plaza Residence. Situated in the Beylikdüzü district of Istanbul, Crest Plaza Residence is well-located for both transport links and amenities, with Ataturk airport a 20 minute drive away.