Dubai: Dubai-based property developer Deyaar Development PJSC has signed a Memorandum of Understanding (MoU) with Turkey’s Ascioglu Group to jointly develop master projects in the Turkey and the UAE.
The MoU will help Ascioglu’s engagement in Dubai’s hospitality and real estate sectors, while enabling Deyaar to explore new opportunities in Turkey in partnership with one of the nation’s pioneering real estate brands.
Deyaar CEO Saeed Mohammad 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, a prime developer known for shaping significant real estate projects in Istanbul, is calling on investors in Turkey to leverage Deyaar’s local industry expertise for exploring emerging investment opportunities in and around Dubai.
Yasar Ascioglu, Chairman of Ascioglu Group 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.”
