3/18/2013

Qatari hotel chain invests in Turkey

Dünya – Qatar’s Retaj Hotel & Hospitality group has opened its first hotel in Turkey-Istanbul’s Gunesli district as part of its USD 500 million investment plan. To be run under Islamic principles, the five-star Retaj Royale Istanbul will be the first of a series of facilities to be opened in Turkey that will primarily welcome tourists from Gulf countries. Turkey has been experiencing an influx of tourists from the Middle Eastern countries for the last few of years, namely from Saudi Arabia, Qatar, Bahrain and UAE.
“Turkey has proven itself internationally with its accomplishments in recent years.” Retaj Hotel & Hospitality Deputy Chairman Mohammed Bin Johar said at the opening ceremony as he detailed the company’s reasons to invest in Turkey. “Our second hotel project will be in Bursa.”, Johar said with respect to their plans in Turkey. Open to partnerships with Turkish companies, Retaj Hotel and Hospitality intends to expand to other countries alongside Turkey.


Present at the opening ceremony, President of the Investment Support and Promotion Agency of Turkey (ISPAT), Ilker Ayci called on the Qatari group to focus on growing in Turkey, drawing attention to Turkey’s fast-growing Anatolian cities. “Turkey receives more than 70 percent of its foreign investments from European countries, we expect our Arab brothers to increase their investments in our country.”, Ayci said, inviting investors from Gulf countries to Turkey.


Planning to open hotels in Bursa, Ankara and Antalya, Retaj Hotel & Hospitality is set to invest USD 500 million in Turkey over the next decade.

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