Turkey’s name shone high in the field of construction, construction, engineering and urban design, over the past two decades clearly, and we have dedicated this article in Al-Fanar Real Estate to talk about the construction sector in Turkey, including the activity and vitality that accompanies this sector, and great brilliance in this field, with an explanation A summary and statistics of the most important achievements of this sector, and other information that feeds the idea of the article. “The construction sector in Türkiye towards growth and prosperity”
General information about construction in Türkiye
Turkey gathered several advantages that pushed the construction sector towards leadership and excellence, especially that the need for housing, an office, and a commercial store is an urgent need due to the large number of Turkey’s population, and foreign residents there.
The urban transformation plans in Turkey also came as one of the most important motives for competition between construction companies in Turkey, which led to a real real estate revolution in Turkey.
Turkish urbanism has been distinguished by its aesthetics and the accuracy of its designs since ancient times, especially in the Ottoman period, in which the Ottomans’ palaces and mosques are still a witness to the creativity of the Turkish architectural hand, but after World War II, interest in construction decreased in Turkey, and millions of housing units were formed in Turkey that were not actually qualified to resist disasters. and earthquakes.
The Marmara earthquake in 1999 constituted a turning point in the history of construction and building in Turkey, as it opened the minds to the importance of reshaping houses in Turkey and residential and commercial real estate in a modern way, taking into account the conditions of sound construction resistant to earthquakes and natural disasters and other advantages that appeared in the Turkish residential complexes that have become An example to follow in the accuracy of building standards, aesthetic design, and ideal services.
The construction renaissance in Turkey was not limited to the local and internal sectors, but the name of the construction companies in Turkey appeared in many European and Middle Eastern real estate exhibitions, as well as the construction companies in Turkey participated in a large number of real estate projects outside Turkey.
The most important construction companies in Türkiye
We will review with you the most important names of construction companies in Turkey with a simple summary of their history and achievements:
SUR YAPI
This company started its urban and construction activities in 1992
The company completed a good number of modern projects shortly after its launch, which quickly gained fame, until today it has become one of the leading Turkish companies in the field of urban development, engineering and construction, production of primary building materials, and management of modern residential complex services.
This company has a hand in building many modern Istanbul complexes, and the buildings of well-known Turkish and international companies, including “Nobel Pharmaceuticals” and “Access Cajetan” shopping center, and the residence and shopping center in Bursa, and the Izmir complex, in addition to building many commercial complexes that provide services Ideal for opening offices and limited companies in Turkey.
İŞ GYO
This company is known for its leadership in real estate investment, and its strong and balanced financial portfolio. The company was established in 1999 and soon became one of the most important real estate investment partnerships in Turkey, and its most important partner is İş Bank, “Business Bank in Turkey”, which gave the company financial strength to finance its real estate projects. .
What has increased the importance of real estate projects accomplished by İŞ GYO is that it is implementing its new investments based on sustainable revenues for real estate rental and sale under construction, strong shares of participating banks and institutions, and financing opportunities that the company opens up to investors.
NEF
It was established in 1992 and at its beginnings it was a company specialized in customs clearance and foreign trade in Turkey, but it turned into a construction and real estate development company in 2007 after completing the necessary licenses for that.
Since that time, the company’s activity has focused on carrying out construction work in Turkey and real estate contracting, and its activities have expanded outside Turkey, and it has obtained its own identity in Istanbul through the implementation of several residential complexes bearing the name NEF.
The company merged with several commercial and tourism companies in Turkey between 2012 and 2014, which made the company very active in real estate marketing, investing in commercial and tourist real estate, and building luxury residential complexes.
SİNPAŞ GYO
One of the oldest companies in Turkey, it was founded in 1980 and was restructured at the end of 2006, and the company entered into many partnerships to obtain real estate financing, which increased the number of shareholders and business partners who obtained 37% of the company’s shares with the launch of real estate financing plans directly.
The company also included a large number of real estate experts within an integrated team of construction, design engineering and real estate marketing, to become one of the most important real estate companies contributing to the urban transformation plans in Turkey.
NUROL GYO
The company was established in 1997 and began its activities in the field of real estate development, design of modern projects, and real estate marketing, and it included a number of qualified real estate experts. Commercial and shopping mall.
Figures and statistics about the construction sector in Türkiye
Turkey plans to construct 18 million housing units, of which 7 million housing units will be built before the end of 2023
Turkey also plans during this period to construct more than 13,000 km of new roads, more than 5,700 km of highways, and develop more than 10,000 km of railways.
Turkey’s profits from building and construction are expected to reach about $230 billion in 2023
Banks in Turkey contribute to reviving the real estate sector through mortgages, and the lending rate has been reduced from 24% to 19% to encourage real estate loans in Turkey.
Factors affecting the construction sector in Türkiye
The construction activity in Turkey is linked to many influencing factors that determine the future of this sector and aspirations for its development, and among these factors:
The balance of demand and supply for real estate in Türkiye
Like any economic and commercial sector, the construction business in Turkey increases with the increase in the demand for real estate in Turkey, and whenever the supply of real estate is greater than the demand, the construction business decreases.
Between 2000 and 2007, Turkey, especially Istanbul and all the states near the Sea of Marmara, witnessed a recent construction activity to compensate for the damage caused by the 1999 Marmara earthquake and to build safer real estate, which created a greater opportunity to increase the demand for real estate in Turkey during that period.
After 2007, urban transformation plans were launched in Turkey in line with the increased need of citizens and foreign residents for housing, commercial stores, and offices. These plans provided a better opportunity to balance the growing demand for real estate in Turkey, and to create real estate that meets this demand.
Foreign investment in Turkish real estate
Foreign investments in the Turkish real estate sector play one of the most important factors in activating construction companies in Turkey, pushing them for more urban development, and creating a broader space for competition between companies to attract more foreign investors.
Modern residential complexes are suitable for foreign residents because they are more comfortable and safer, as well as luxury services and easy shopping, which increases the attractiveness of these properties in the hearts of foreign investors.
Construction financing in Türkiye
The real estate financing process for construction companies in Turkey depends on several financing methods, including:
Buying cheap real estate in areas that will be rehabilitated urbanly, and then building real estate with ideal services and at prices much more expensive than the purchase price.
Sale of real estate under construction in Turkey, which guarantees good partial financing before the completion of the construction process.
- Partnership with Turkish banks
- Selling shares of the company to investors
- Participation with the Turkish government in several real estate projects with government guarantees.
Real estate marketing activity in Türkiye
Real estate companies in Turkey, whether specialized in construction, contracting, or intermediary companies, have a very large media activity that is attractive to local and foreign investors, and companies pursue several methods of marketing, the most important of which are:
- Marketing by organizing internal real estate conferences and exhibitions
- Marketing by attending real estate exhibitions outside Türkiye
- E-marketing and on social networks
In this article, we explored the most important aspects of the construction sector in Turkey and the future of construction, which is one of the factors attracting the increasing real estate investments in Turkey. We also would like to inform you permanently that we, in Al-Fanar Real Estate, have distinguished strategic relations with major construction companies in Turkey, and we obtain special privileges for our customers and buyers. Through us, prices are primarily concerned with the rest of the services.
Therefore, we advise you to contact us to obtain your favorite real estate and realize your dream of owning property in Türkiye.
