Turkish construction companies are among the top 250 global companies.
Turkish construction companies
Real estate is one of the significant sectors for the Turkish economy's growth, with a 30% contribution to the economy. The prosperity of real estate in Turkey hasn't only been at the local level but has also reached a global level. Turkish construction companies were among the top 250 world construction companies in 2021.
The Turkish real estate companies outperform globally.
According to Engineering News (ENR), 40 Turkish construction companies ranked among the top 250 global construction companies in 2021. Seven of these companies were among the world's top 100 companies.
Thus, Turkey ranked third after the United States and China in terms of the number of companies. In 2020, Turkey ranked second in the best construction companies' list worldwide, with 44 companies. Moreover, Turkey's share in the global construction market is about 4.4%.
The rapid recovery of the real estate in Turkey from the consequences of the epidemic
The real estate projects by Turkish construction companies have increased to 11,093 projects in 131 countries in 2021. Also, they were worth $29.3 billion in 2021, up from $15.2 billion in 2020. This doubling in the projects' value is strong evidence of the rapid recovery in the real estate in Turkey from the consequences of the epidemic.
The projects made by Turkish construction companies worldwide are infrastructure projects such as roads, airports, and dams, besides residential real estate projects, hospitals, hotels, and power stations in Russia, the Middle East, and Africa, as well as in Europe and South Asia.
Turkish construction companies' projects worldwide over the last decade
In the last decade, the period between 2010 and 2019, Turkish real estate projects in foreign countries has been increasing every year, as:
In 2010, the Turkish contractors' projects were worth 23.8 billion US dollars.
In 2012, the projects were worth 31.6 billion dollars.
In 2013, the projects were worth about 31.3 billion dollars.
After 2013, the global real estate sector decreased by 15% due to some developments on the international scene, like lower prices for energy and sanctions against the Russian Federation. Thus, the value of the projects came to:
$26.6 billion in 2014.
$15 billion in 2016.
$22.8 billion in 2018.
$19.5 billion in 2019.
$15.1 billion in 2020 despite the pandemic and the global economic downturn.
The strength of the real estate in Turkey is due to Turkey's location between the continents of Asia and Europe. Besides, the Turkish construction companies provide services by international standards and enjoy credibility and high customer satisfaction. Turkish construction companies also have extensive international experience in establishing projects worldwide.
Despite the downturn in the economy of many countries due to the Corona pandemic, real estate in Turkey has experienced considerable superiority and recovery in recent years. It has become a leading sector not only in Turkey but also worldwide.
At Baytii Real Estate, we can recommend you the best real estate projects in Turkey and reliable construction companies for successful real estate investment in Turkey.
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