The investments of the Public Authority for Investment in the Turkish financial markets (the stock market) are modest, but they were affected by the fall of the lira and the pressures on the economic sectors.
Al-Rai has learned from reliable sources that the majority of the Authority’s investments in Turkey are concentrated in real estate, noting that the idea of permanently exiting the Turkish market is not on the table, while at the same showing no interest in pumping more money into Turkey now due to ‘fluctuations’ seen over the last period or at until the picture becomes clear. However, the possibility of investment from one sector to another has not been ruled out.
The sources also denied the existence of investments by the “Investment Authority” in Lebanon, whether directly or indirectly, pointing out that it is not proposed to discuss any new investments there in the near term.
In a related context, the Executive Committee of the Investment Authority is expected to discuss this week its investment plan and the weights of its investments in several markets, including the regional ones that face economic, political, and other ‘difficulties’, and cast a shadow on the Authority’s investment sectors.
As for the sectors in which the Authority will be interested in expanding the scope of investment in the Gulf, regionally and globally, sources pointed to renewable energy sectors, whether by acquiring strategic shares in existing projects or companies or through specialized entities that have previously achieved success and encouraging growth rates.
The sources indicated the Authority will choose, during the next stage, between the most developed markets in renewable energy industries, while it is interested in examining investment opportunities in the petrochemical fields in the Gulf, stressing that the rise in oil prices and its stability during the coming period will provide a relatively comfortable financial climate compared to the period a year ago.
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