Qatar-based hospitality company Retaj Marketing and Project Management is to invest $500m in Turkish hotels catering to Muslim travellers.

The company is engaged in talks with Turkish construction company Koray to carry out the projects, which are likely to take place in Istanbul and the north-western province of Bursa.

In October 2011, Retaj revealed its plans to expand its Middle East portfolio to 20 properties over the next five years.

The company, which operates the Retaj Al Reyyan, the Retaj Residence, the Retaj Residence-Sharq and the Retaj Al Ghanem in Doha, recently signed a deal to take over a 107-room hotel located in front of the Islamic Museum in Doha.

The property will open in two months and will be named Retaj Royal.

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