Posted on 26 July 2012
Singapore based Temasek Holding, the 9th biggest investment fund in the world is examining Turkey’s different sectors for investment opportunities, according to daily Sabah.
“We are looking for opportunities, we are going to come,” said Nagi Hamiye, who is in charge of Global Industrial Investments for the firm. He said they had formed a special team for Turkey and they saw the country as one of their priority markets.
“We are currently looking closely at Turkey and will start direct investments in a few years. Taking into account Turkey’s rate of development and our experience, we have decided to invest in the retail, banking, infrastructure and logistical sectors,” said Hamiye, adding that Temasek was particularly interested in the banking sector.
Temasek was reported to be looking into acquiring Garanti Bank, but it was obviously beaten by General Electric. The firm is now considering Turkey’s Alternatifbank according to Sabah. Temasek has already been involved in Turkish projects, having won the tender for the Mersin Port in southern Turkey, along with Turkey’s Akfen.
Temasek is yet another major player to jump on the Turkey bandwagon, just last month Donald Trump opened a mall in Istanbul and said he would be investing more in Turkey’s retail sector. As for residential property, prices are still low and private investors would surely be foolish not to follow the big money and at least give it some proper attention.