Always on the go: Construction sector in Turkey
Turkey is a developing country and the needs of the country are increasing accordingly. The construction sector in Turkey is one of the most important sectors as well as in other developing countries. Dams, energy manufacturing facilities, roads, airports, urban spaces, factories, hospitals and all the other places necessary for the public are directly related to the construction sector.
Data in numbers
- About 2 million employees (in 2016)
- %5 growth in 2017
- %8 share in GDP
- Total investment in the construction sector was 52,2 billion $ in 2016
- Foreign Direct Investment was more than 8,1 billion $ in 2016 and 3,5 billion $ of it was the direct investment in real estate purchase.
Top 10 Turkish Companies in the Construction Sector in Turkey
- Enka Construction – Turnover (TL): 10.581.750.000
- İçtaş Construction – Turnover (TL): 10.118.155.000
- Polimes Construction – Turnover (TL): 8.811.070.294
- Mapa Construction – Turnover (TL): 4.207.910.434
- TAV Airports – Turnover (TL): 3.450.223.000
- Limak Construction – Turnover (TL): 2.847.073.357
- Tekfen Construction – Turnover (TL): 2.882.750.000
- Gap Construction – Turnover (TL): 2.556.288.066
- TAV Tepe Akfen – Turnover (TL): 2.473.210.390
- Nurol Construction – Turnover (TL): 2.304.234.000
Foreign Companies with Turkish Partners
– In the Star Refinery Project, there is an international consortium consisting of Spanish Técnicas Reunidas, Italian Saipem, South Korean GS Engineering and Japanese ITOCHU.
– Yeşil Construction – Salamanca (England) They have been partners since 2007 and they have completed many projects together.
– Beyttürk Investment – Tasweek Group (UAE) They have signed an agreement on 280 million dollars to build villas in Turkey.
– Cathay Construction – Al Omari Group (Saudi Arabia) They became partners in 2012 and they have signed a contract of 20 million dollars including 32 villas in Istanbul.
– İnanlar Construction – 32 Group (USA) They have started their partnership in 2010 and have been working on important projects since then.
– Keleşoğlu Construction – 32 Group (USA) The company has one more partnership in Turkey and they have created an associated company.
– Aşçıoğlu Construction – Bin Laden Group (Saudi Arabia) Aşçıoğlu Construction and Bin Laden Group have created a new company in Turkey and have started working on important projects together.
– Ağaoğlu Group – CPBAU (Germany) They have become partners in 2014 and since then they have been working together on big projects not only in Turkey but also in Europe.
– Garanti Koza – Maeda Corporation (Japan) One of the biggest construction companies Garanti Koza has become partners with Maeda Corporation in 2014.
– Dap Construction – Rotana (Saudi Arabia) They have become partners, worked together and opened their first hotels in Istanbul.
Some Foreign Companies that Develop Projects in Turkey
- Emaar Group (UAE) They alone started an enormous project in the heart of Istanbul including a shopping mall and apartments in the same place. They invested a lot in the construction and in 2017 they have opened the mall to the service of people.
- ALJ Group (Saudi Arabia) They have been the biggest distributor of Toyota cars and now they are investing in the construction sector as well. They have started their own company in Turkey and they are about to start their projects in the construction sector.
- Bilfinger Berger (Germany) The company is mainly involved in mall projects in Turkey. Most of the biggest shopping centers are in their portfolio.
Potential of the Construction Sector in Turkey
According to sector experts, the construction sector is promising regarding the increasing number of foreign demands, the potential requirements of the sector and the rising urban transformation projects. Besides this, the share of the construction sector in GDP has almost reached to %8 which is the highest rate since 1998.
The need for housing, the tendency of investment in the real estate and foreign demands show the high potential of the sector. When these are all taken into consideration it is possible to say that in the following years the construction will go on being one of the leading sectors in the economy.
The Latest News of the Construction Sector
- Construction sector to continue boosting Turkey’s economic growth
Growth is expected to continue in the construction sector that has come to the fore with its contribution to the overall growth rate of 5.1 percent for the Turkish economy in the second quarter of the year. https://goo.gl/myyjCx
- Istanbul’s 3rd airport to welcome 1st plane by Feb 2018
Istanbul’s third airport will welcome its first plane before February of next year, according to Turkey’s transport, maritime, and communications minister. Speaking at Anadolu Agency’s Editors’ Desk in Ankara on Friday, Ahmet Arslan said: “We will land the first plane at Istanbul’s third airport before February 2018.” https://goo.gl/cDDYqT
- TANAP to be tested in late 2017: Turkish minister
The testing of the Trans-Anatolian Natural Gas Pipeline (TANAP) will start at the end of 2017, Turkish media outlets quoted Minister of Energy and Natural Resources Berat Albayrak as saying on November 1. https://goo.gl/EtuSwX
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