Turkey Construction

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Despite some recent turbulence, Turkey has strong fundamentals that underscore its potential for long-term economic growth. With a young population of 77.7m, a strategic location within four hours’ flying time of 1.5bn consumers and a diversified economy, the country has much to offer investors. 

Improved political stability helped lift August property sales in Turkey, while the government is looking to infrastructure investments to stave off a downturn in the overheated construction sector. A glut of empty residential properties and high interest rates had curbed growth in property sales in recent times.
Long one of the driving forces of Turkey’s economy, the construction industry appears to be slowing down, with questions surrounding project financing and interest rate hikes dampening the sector’s outlook.

The urban centres of Istanbul and many secondary cities around Turkey are set for a dramatic transformation, as major districts are rebuilt, historic areas renewed and new cities founded. This presents opportunities for the construction sector, even as the magnitude of developments makes it crucial for the government to be transparent and...

The construction sector is riding high on the strength of major infrastructure projects, particularly in road and bridge development, and an ongoing urban regeneration plan that will see one-third of the country’s houses torn down and rebuilt.

While much attention has been given to Turkey’s residential projects, especially those falling under its urban transformation plan, the office and retail markets are also displaying increased sophistication. The announcement of the Istanbul Financial Centre (IFC), which aims to create a business district on the Asian side, is sparking investment...

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