(MENAFN- Khaleej Times)Deyaar Development a real estate development company in Dubai has signed a memorandum of understanding (MoU) with Turkey's Ascioglu Group a developer in Istanbul. The MoU articulates Deyaar's strategy to expand in the Middle East.
Signed by Saeed Mohammed Al Qatami Deyaar's chief execuive officer (CEO) and Yasar Ascioglu chairman of Ascioglu the partnership mandates the two entities to jointly develop master developments in both Turkey and the UAE. The MoU will facilitate Ascioglu's foray into Dubai's hospitality and real estate sectors. It will also enable Deyaar to explore new opportunities in Turkey in partnership Ascioglu. Al Qatami said: "We are excited to join hands with Turkey's leading group in the real estate sector as part of our strategy to expand our global footprint. Turkey presents appealing investment opportunities as a key destination in the emerging regional market. As a leader in the UAE's real estate sector Deyaar will continue to play an active role in focusing on high quality real estate projects while maintaining its commitment to providing shareholder value and exceptional customer care." The Ascioglu Group is calling on investors in Turkey to make use of Deyaar's local expertise for exploring emerging investment opportunities in and around Dubai. Ascioglu said: "The group has to its credit almost five decades of experience in the Turkish market and has succeeding in delivering key projects across the country. Our agreement with Deyaar is a natural fit as we are two leading companies with similar objectives track records and values. We believe that by sharing expertise we can leverage our mutual strengths to assess and capture opportunities that open up in the near future." -
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