Istanbul/Anadolu

Turkish Ambassador to Moscow Tanju Bilgiç said on Monday that his country forms a stronger investment alternative for Russian investors amid recent developments in the region.

This came in a speech he delivered during an online seminar titled 'The New Safe Haven: The Position of the Turkish Real Estate Sector in Light of Regional Developments.'

The seminar was organized by the Turkish-Russian Business Council under the Turkish Foreign Economic Relations Board (DEİK), according to a statement by the latter.

Bilgiç explained that Turkey continues to maintain its attractiveness for Russian citizens thanks to its climate, strong transportation network, reliable and transparent land registry system, advanced infrastructure, and modern cities.

He added that the high rental investment return and cultural proximity between the two countries also contribute to enhancing Turkey's attractiveness for Russian investors.

The ambassador noted that Russians rank first among foreigners purchasing the most real estate in Turkey.

He pointed out that Turkish TV series have also contributed to increasing Russian citizens' interest in Turkey.

Bilgiç stressed that greater promotion of the investment opportunities Turkey offers in the Russian market would raise the interest of Russian investors.

** Safe destination

For his part, Chairman of the Turkish-Russian Business Council at DEİK Izzet Akmekci Bashi said that the US-Iran tension and developments around the Strait of Hormuz have once again shown the decisive role of geopolitical risks in investment decisions.

He added that the importance of safe and stable investment centers is increasing amid uncertainty.

Akmekci Bashi explained that Turkey is the top destination in terms of numbers of Russian tourists, which positively impacts real estate investments.

He said: 'The recent events in the Gulf region have once again made Turkey one of the safest investment destinations.'

He added that the legal infrastructure, strong transportation network, advanced real estate system, and quality of life in Turkey are gaining increasing importance for international investors.