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.
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...
The real estate sector has been highly dynamic in recent years, with investor sentiment impacted both positively and negatively by a flurry of regulations, new megaprojects and the quarterly health of the economy. At the same time, the country – especially its largest city – has cemented itself as the darling of investors looking for strong...
Rapid economic growth, a young demographic profile, and the stirrings of gentrification in Europe’s largest city combined make Turkey one of the hottest real estate attractions around. In line with other markets exposed to the European debt crisis, however, it may see a speed bump in the near term.
With strong year-end results both in 2010 and 2011, Turkey’s construction sector emerged from the 2008-09 financial crisis in relatively good shape. A projected slowdown in the local economy due to European sovereign debt woes means the double-digit growth is unlikely to be repeated in the near term, but the underlying fundamentals look strong.
Even as Turkey gears up for a major series of investments in infrastructure, residential and commercial construction, its biggest companies are cutting their teeth in developing countries around the world. A host of contractors have been making a name for themselves internationally over the past several decades, working mainly in the Middle East and...
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