Turkish contractors build property abroad for $ 9.4 billion in 10 months

Turkish contractors build property abroad for $ 9.4 billion in 10 months

Turkey continues to actively provide international construction services even during the coronavirus pandemic. The total volume of international projects of Turkish developers has decreased due to the pandemic. However, the result of ten months of work is the implementation of 158 projects worth $ 9.4 billion. This information was published by the Turkish Ministry of Trade. According to the ministry, from January to October 2019, Turkish contractors implemented foreign projects worth $ 11.3 billion. The total volume of work by Turkish developers from 1972 to October 2020 reached $ 412 billion and 10,338 successfully completed projects, which covered 127 countries. Turkey's contracting sector surpassed the $ 10 billion mark for the first time in 2005. The slight decrease in international contracts is associated not only with the coronavirus pandemic, experts say. The main reasons for the recessions are the consequences of the global financial crisis and low oil prices. The Turkish Ministry of Commerce also stressed that Turkish contractors are actively importing domestic building materials for their overseas projects. Last year alone, they brought Turkey an additional $ 20.8 billion in revenue.

Share
Subscribe to newsletter
Subscribe