(UAE and Turkish Real Estate: Dubai and Abu Dhabi Invest in Istanbul)

Investors from the United Arab Emirates (UAE), particularly Dubai and Abu Dhabi, have been increasingly influential in Istanbul's real estate market in recent years. Thanks to Turkey's economic dynamism, strategic location, and exchange rate advantages, UAE-based investors and real estate companies are making significant investments in Istanbul's residential, office, commercial, and tourist projects. Why Istanbul? Price-Quality Balance: Compared to the high real estate prices in Dubai and Abu Dhabi, properties of the same quality are offered at more affordable prices in Istanbul. Investors from the UAE are particularly interested in luxury apartments and villas in areas such as Beşiktaş, Nişantaşı, Kadıköy, Üsküdar, and Sarıyer. Ease of Selling Property to Foreigners: Since 2017, Turkey has offered foreigners the opportunity to acquire Turkish citizenship by purchasing property in Turkey. This situation provides both investment and residence opportunities, particularly for investors from the UAE. Tourism and Accommodation Potential: Investors from Dubai and Abu Dhabi are capitalizing on Istanbul's potential to attract over 15 million tourists annually and become a global tourism center, investing in hotels, aparthotels, and short-term rental housing (Airbnb) projects. Exchange Rate Advantage: The depreciation of the Turkish Lira has created a significant advantage for UAE investors in purchasing property in Turkish Lira. Purchases made in US Dollars or AED are realized at a much lower cost compared to their actual value. Featured Projects and Investors: A group of investors from Dubai invested $150 million in a 100+ unit luxury residential project in Beşiktaş. An Abu Dhabi-based real estate company transformed a former factory building in Şişli into a modern office and retail center. Leading UAE real estate giants such as Emaar Properties and Meraas are in talks for joint projects in Istanbul. Turkish Investor Movement in the UAE This trend is twofold: Turkish real estate companies are also investing in luxury residential and tourist projects in areas like Downtown Dubai and Palm Jumeirah in Dubai, and Yas Island in Abu Dhabi. This demonstrates both the economic integration between the two countries and the emergence of a new real estate corridor between Istanbul and Dubai. Future Perspective: Bilateral real estate investment agreements are being developed between Turkey and the UAE. More than 60% of UAE investors in Istanbul plan to purchase a second property within five years. Events such as the "Istanbul-Dubai Real Estate Fair" reinforce the cooperation between the two cities. Conclusion: Istanbul has become one of the most attractive real estate markets not only in Turkey but also in the Middle East. UAE investors from Dubai and Abu Dhabi have flocked to Istanbul not only for profit but also for quality of life and global portfolio diversification. This trend transcends economic uncertainties and presents a long-term strategic choice.