Construction in Turkey - Key Trends and Opportunities to 2024

Construction in Turkey - Key Trends and Opportunities to 2024

  • September 2020 •
  • 50 pages •
  • Report ID: 5309166 •
  • Format: PDF
Construction in Turkey - Key Trends and Opportunities to 2024

Summary
Prior to the Coronavirus (COVID-19) outbreak, Turkey’s construction industry was struggling, with output declining by 8.6% in real terms in 2019. The country’s economic woes have severely impacted construction activity; the depreciation of the lira and high interest rates have pushed up construction costs and the cost of borrowing. With the emergence of the pandemic and measures taken by the government, the construction industry is now set to contract further in 2020.

The Treasury and Finance Ministry reported that Turkey registered a budget deficit of TRY139.1 billion (US$23.2 billion) between January-July 2020. In July 2020, the budget balance saw a deficit of TRY29.7 billion (US$4 billion), compared to a surplus of TRY9.9 billion (US$1.7 billion) in July 2019.

As Turkey’s economic outlook worsens and the government’s fiscal position weakens due to the virus outbreak, the construction sector is also set to be adversely affected.Infrastructure construction will be particularly affected.

Prior to the crisis the government had been financing major infrastructure projects across the country, but it is likely that it may not have the ability to fund large scale infrastructure projects in the medium term.

Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, the analyst forecasts the construction industry to shrink by 2.5% in 2020. The industry will recover, however, posting an average annual growth of 4.5% between 2021-2024

This report provides detailed market analysis, information and insights into the Turkish construction industry, including -
- The Turkish construction industry’s growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Turkish construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

Scope
This report provides a comprehensive analysis of the construction industry in Turkey.

It provides -
- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Turkey, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy
- Identify and evaluate market opportunities using standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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