The transaction will be formalised after the clearance of the Turkish competition watchdog
The post DIB acquires minority stake in Türkiye’s T.O.M. Group appeared first on Gulf Business .,
DIB acquires minority stake in Türkiye’s T.O.M. Group
Dubai Islamic Bank (DIB) has recently acquired a minority stake in Türkiye’s T.O.M. Group, a leading Turkish real estate development and investment firm. The acquisition is part of DIB’s expansion strategy in Turkey’s thriving real estate market. This move comes after receiving approval from the Turkish competition watchdog and is expected to boost DIB’s presence in the country.
Expanding into Turkey’s real estate market
DIB’s acquisition of a minority stake in T.O.M. Group demonstrates its commitment to capitalizing on the opportunities in Turkey’s growing real estate market. With a reputation for excellence in real estate development, T.O.M. Group has been making significant contributions to Turkey’s construction sector for over a decade. This strategic partnership will enable DIB to tap into T.O.M. Group’s expertise and benefit from its extensive network in the industry.
Aiming for continued growth
By entering into this partnership, DIB is aiming to further expand its footprint in Turkey’s real estate sector. The collaboration will allow the bank to leverage the opportunities presented by Turkey’s booming property market, which has seen substantial growth in recent years. This move aligns with DIB’s strategy of diversifying its portfolio and strengthening its presence in key markets.
A positive outlook
The acquisition of a minority stake in T.O.M. Group is a significant milestone for DIB’s expansion plans in Turkey. With the clearance from the Turkish competition watchdog, this partnership is expected to create new avenues for growth and enhance DIB’s position in the Turkish real estate market. As both entities combine their strengths, DIB is well-positioned to benefit from the thriving development and investment opportunities in Turkey.
Reference: Gulf Business – [link to the original article here]
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