Chinese investment group to invest $200M in Turkey

Chinese investment group Hong Kong China-Turkey Investment is reported to invest $200 million until 2018.

China-based Hong Kong China-Turkey Investment Group Turkey, Azerbaijan, Qatar Investment Director Oktay Kemal Özdemir announced that the group is planning to invest $200 million in the Turkish private sector until 2018.

Özdemir said that the group sees a great potential in Turkey and supports the country's growth with an intention to contribute to it.

The group made its first investment in the Time Tower project in the northwestern city of Kocaeli. The project, in which the group invested around $200 million, consists of a residential complex and a hotel. The second investment project is planned for an electronics store chain, which is one of the leaders in the Turkish retail sector.

Özdemir said they are in the last stage of the deal to purchase the supply chain, explaining that the agreement will contribute to the development of the brand as well as merchandising system and that they will find opportunities to bring new brands from China to Turkey. "In addition, through Hong Kong China-Turkey Investment, we aim to contract the largest contractors in China with financing support to major public projects in Turkey, Azerbaijan and Qatar. Our aim is to finish large public projects without a public burden and to contribute to the development of countries," he said.