Construction is one of the key sectors in Turkey, being one of the main drivers of private and public investments. As a result of economic reforms Turkey has established a large and strong construction industry in a short time.
Today, Turkish construction and engineering companies are able to design, erect, build and operate almost all kinds of civil and industrial projects such as dams, hydroelectric and thermal power plants, industrial plants, airports and seaports, large scale petroleum and natural gas pipelines, fertilizer plants, petrochemical complexes and refineries, motorways, tunnels, bridges, large housing projects, hotels and all kinds of sophisticated buildings. Turkish contractors have achieved a volume of work exceeding US$ 19, 6 billion in 2011 in 43 foreign countries spread over four continents.
The concepts of advanced technology, on-time delivery, quick response, and high quality, use of reasonably priced Turkish labor and goods, and equipment and building materials of international standards have enabled the Turkish construction sector to compete with the world.
Turkey is a major producer of basic construction materials such as cement, building steel, timber, bricks, PVC, polyethylene, glass, ceramic tiles and sanitary ware, being especially strong and competitive in producing construction steel, cement, ceramic and glass products.
Turkey construction sector has grown by 2.8 %.
• The number of residential building permits taken was 115 637.
• Annual growth rate of housing loans Developed was 11.5 %.
• New housing loans disbursed in the first quarter amounted to £ 4.78 billion.
• The average monthly interest rate in mortgage loans declined to 1.25 %.
• The number Housing sales was 96 092.
• There was a limited increase in housing prices and housing rents.
• The total number of shopping center was 284 with the 5 shopping centers opened. The size of the total leasable area has reached to 7:49 million m2.
• The low vacancy rates in A and B type-offices continue in Istanbul CBD office market.
• Real estate sales to foreigners were 557 million dollars and direct foreign capital investments were 149 million dollars.
Briefly, based on our experience, foreign investors may realize solid projects in three following areas:
• Purchase raw and basic construction materials from Turkey (as a purchase market)
• Establish joint-ventures convenient for architecture design.
• Selling of advanced construction materials with technological added value.