January 18, 2017 / 9:46 AM / 7 months ago

Turkey real estate to see $1 bln in new revenue in 2017 on citizenship deal -official

ANKARA, Jan 18 (Reuters) - Turkey's real estate sector is expected to see more than $1 billion in additional revenue in 2017 after a move to give citizenship to some foreigners who buy and hold Turkish property, a senior economy official said.

Under the plan, foreigners who buy property worth at least $1 million and hold it for three years will become eligible for Turkish citizenship. Investors from Iraq, Syria and Russia have been showing an interest, the official said. (Reporting by Orhan Coskun and Ercan Gurses; Writing by David Dolan; Editing by Nick Tattersall)

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