Qatar firm to invest in hotels in Turkey

Qatari firm group, Retaj will invest $500 million in the Turkish hotel market, with an emphasis on an Islamic model in the developments.

Retaj Board of Directors member Bin Johar Al-Mohammed said: “Turkey has become the 16th largest economy in the world and the sixth largest economy in Europe, and this made us want to invest in Turkey.”

Al-Mohammed said that Retaj was extremely interested in Istanbul and maybe Bursa as potential spots for their hotel developments. Al-Mohammed said that the aim of the hotels was to attract people from the Gulf and other nations.

The hotel market in Turkey is currently booming as more and more tourists head to Turkey for vacations and Turkey becomes more popular amongst travellers. The $500 million investment in Turkey by Retaj shows the current strength of the Turkish investment market, anyone looking to build a hotel or invest in property in Turkey would do well to look at the prosperous Turkish market.

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