Turkish contractors set records

Turkish contractors set records

Development and construction companies in Turkey have implemented projects worth about $6 billion abroad in just seven months of 2022, the Emlakkulisi portal reports.

Other interesting figures: from 1972 to the end of July 2022, 11,293 projects worth $459.6 billion were successfully commissioned.

 

Despite the political instability and the consequences of the pandemic not only in Turkey, but also in other countries, in 2020 alone, the development sector «received» 354 jobs abroad.

In 2021, in parallel with the reduction of the negative impact of the epidemic on the global economy, the total cost of projects implemented by companies abroad reached $30.8 billion. The average cost of the project last year reached a record high of $72 million.

 

Well, this year the number of properties commissioned by Turkish contractors in January-July alone amounted to 156 units, totaling $5.935 billion. The average cost of the project in 2022 is $38.044 million. 

 

Most of them are located on the territory of Russia: 20.8% (according to statistics since 1972), Turkmenistan is in second place (10.9%), Iraq is in third place (6.9%). Many more projects have appeared on the territory of Libya, Kazakhstan and Saudi Arabia.

 

However, there are a lot of iconic construction projects going on in Turkey itself. A Financial center building is being completed in Istanbul, which will become the tallest in Europe. One by one, new important facilities appear in different provinces: for example, a mega center with offices, an indoor market and an entertainment area is being completed in Alanya.

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