- The key vendors in the construction market in Turkey 2015-2019 are Cengiz Holdings, Enka Construction & Industry Co. Inc., Polimeks Insaat TaahhutveSanayi A/S and STFA Group
London, 28 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the construction market in Turkey 2015-2019. Increased demand for energy-efficient buildings is one of the major trends upcoming in the market. Demand for eco-friendly buildings will increase in Turkey during the forecast period. For instance, the Siemens factory, currently under construction, is being designed on green building specifications. The construction market in Turkey is expected to grow at a CAGR of 4.82% during the forecast period of 2014-2019.
The real estate sector in Turkey is growing rapidly as a result of increased demand for both new residential and non-residential buildings. The government has also increased the number of countries allowed to buy property from 53 to 129. Moreover, the establishment of international corporate offices in Turkey will propel demand for commercial buildings.
“The government of Turkey is investing heavily in the development of roads, highways, motorways, railways, airports, and ports,” says Faisal Ghaus, Vice President of Technavio Research.
“The government is planning to construction high-speed railway networks in the country to reduce travel time. Also, huge development is taking placing of the motorway infrastructure.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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