• Chinese e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) eyed a logistics hub at Istanbul Airport and a data center near the Turkish capital Ankara with an investment of over $1 billion.

• Alibaba aimed to invest in Europe and the Middle East and saw Turkey as a solid production base, Reuters reports citing president Michael Evans' interview.

• Alibaba weighed serious investment plans at Istanbul Airport and proposed evaluating e-export strategies from Turkey to Europe, the Middle East, and the Far East.

• Also Read: Alibaba To Boost Japan's Digital Transformation With Third Data Center

• Alibaba backed Trendyol, one of Turkey's best-known e-commerce platforms, Reuters noted.

• "The reason we chose Trendyol was that its technology was advanced, and its potential was great. We are positioning this place as a base for Europe and the Middle East," he said.

• Alibaba and its Chinese peers ramped up overseas exposure to beat the domestic regulatory crackdown and economic slowdown.

• In September, Alibaba Cloud shared plans to double down on its overseas presence, including a $1 billion investment.

• Price Action: BABA shares traded higher by 4.75% at $112.50 premarket on the last check Monday.

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