Kuwaiti property firm Al-Tijaria Real Estate Company has invested $10 million into Turkish farmland, according to an announcement on its website.
“The Turkish market is considered one of the strongest producing and exporting markets in agricultural crops in the world,” wrote Abdulfattah Marafie, chairman and managing director, in a statement.
The investment was made into a special purpose vehicle alongside other investors to buy, develop and cultivate cropping farmland over a two-year period. This land development will be followed bysix years of crop production and an exit after eight years in total.
The produce will include fruit as Al-Tijaria has partnered with an international concentrated juice producer and exporter.
Al-Tijaria had not responded to requests for further information when Agri Investor went to press.