Kuwait-based Al Tijaria Real Estate Company has entered into a new $10 million investment deal in Turkey.

The investment, which was through a special purpose company in alliance with other investors, is aimed at buying and developing pre-targeted farmlands in an area of 10 million sq m, said a statement.

Al Tijaria has taken the needed safety procedures required to preserve the rights of its shareholders while maintaining the lowest risk levels and taking into consideration a Conservative Exit Policy, said Abdulfattah Marafie, chairman and managing director.

The investment period is eight years from the date of starting the project with the possibility of extending two more years for completing the process of exit, he said.

The investment begins with two years of developing and cultivating the land, then six years to produce the agricultural crops.

The salient feature of this investment is the existing need and demand from Turkish and international markets for such products.

Al Tijaria has also partnered with one of the international companies specialised in the production and exporting of concentrated juices, which in turn will buy and market the agricultural crops resulting from this project.

This type of investment comes within the company’s policy in investing in good and various projects in terms of sectorial or geographical distribution where all the company’s investment results in good returns and in stable markets which gets along with the conservative policy of risks management adopted by the company’s board members in addition to adding a value to the shareholders rights, Marafie added. - TradeArabia News Service