The name of Turkey has shone high in the field of construction, building, engineering, and urban design, during the past two decades clearly, and we have devoted this article to Fanar Realty 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 Summary and statistics of the most important developments in this sector, and other information that feeds the idea of ​​the article.

We wish you a good follow-up.

 

General information about construction in Turkey

Several advantages gathered in Turkey that pushed the construction sector towards leadership and excellence, especially that the need for housing, office, and shop is an urgent need due to a large number of Turkey's residents and foreign residents. 

Urban transformation plans in Turkey also came as one of the most important drivers of competition between construction companies in Turkey, which led to a real real estate revolution in Turkey.

 

Turkish urbanism has been characterized by its beauty and precision of designs since ancient times, especially in the Ottoman period, where the Ottomans’ palaces and mosques are still witnessing the creativity of the Turkish architectural hand.

 But after the Second World War, interest in construction declined in Turkey, and millions of housing units were formed in Turkey that were not effectively qualified to withstand disasters and earthquakes. 

The Marmara earthquake in 1999 marked a turning point in the history of construction and building in Turkey, as it opened minds to the importance of reshaping homes in Turkey and residential and commercial real estate in a modern way, taking into account the conditions of proper construction resistant to earthquakes and natural disasters and other advantages that appeared in Turkish residential complexes, which have become An example to follow in the accuracy of the building standards, the aesthetic design, and the perfection of services. 

The construction renaissance in Turkey was not limited to the local and internal sectors, but the name of construction companies in Turkey appeared in many European and Middle Eastern real estate exhibitions, and construction companies in Turkey participated in a large number of real estate projects outside Turkey.

 

The most important construction companies in Turkey

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 earned it fame. Today, it has become one of the leading Turkish companies in the field of urban development, engineering and construction, the production of primary building materials, and the management of complex services. Modern residential. This company has a hand in the construction of many modern Istanbul complexes, and the buildings of well-known Turkish and international companies, including "Noble for Pharmaceuticals ", "Axis Kagithane" shopping center, the residence and shopping center in Bursa, and the Izmir complex, as well as 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 founded 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 of Turkey", which gave the company financial strength to finance its real estate projects. What has increased the importance of the real estate projects implemented by İŞ GYO is that it implements its new investments based on sustainable revenues of real estate rental and sales under construction, strong shares of participating banks and institutions, and financing opportunities that the company opens to investors.

NEF

Founded in 1992, it was in its beginnings a company specialized in customs clearance and foreign trade limited in Turkey, but it turned into a real estate construction and development company in 2007 after completing the necessary licenses. Since that time, the company's activity has focused on the implementation of construction work in Turkey and real estate contracts, 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 earned the company great activity in real estate marketing, investment in commercial and tourist real estate, and the construction of luxury residential complexes.

SİNPAŞ GYO

One of the oldest companies in Turkey. It was established in 1980 and was restructured at the end of 2006. 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 for 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, designing modern projects, and real estate marketing, and included a number of qualified real estate experts,

 The name of the company rose after the completion of three of the largest real estate projects in Turkey, which bear the name "Nurol", a residential tower, a commercial one, and a shopping mall.

 

Figures and statistics about the construction sector in Turkey

  • Turkey plans to construct 18 million housing units, including 7 million housing units, before the end of 2023

  • During this period, Turkey also plans 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.

  • It is expected that the value of Turkey's profits from construction and construction will reach about 230 billion US dollars 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 Turkey

The construction activity in Turkey is linked to many influencing factors that determine the future of this sector and its development aspirations, including:

The balance of demand and supply of real estate in Turkey 

Like any economic and commercial sector, construction work in Turkey increases with the increase in demand for real estate in Turkey, and the greater the supply of real estate than the demand, the construction work decreases. 

Between 2000 and 2007, Turkey, especially Istanbul and all the states near the Sea of ​​Marmara, witnessed a recent urban activity to compensate for the destruction caused by the 1999 Marmara earthquake and build safer properties, 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 increasing need of citizens and foreign residents for housing, shops, and offices. These plans provided a better opportunity to balance the increasing demand for real estate in Turkey, and create properties that meet this demand.

 

Foreigners' investment in Turkey's real estate

Foreign investments in the Turkish real estate sector play one of the most important factors in activating construction companies in Turkey and 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 safe, as well as luxury services, and easy shopping, which increases the attractiveness of these properties in the hearts of foreign investors.

 

Financing construction work in Turkey 

The real estate financing process for construction companies in Turkey depends on several financing methods, including:

  • Buying cheap real estate in the areas that will be rehabilitated, then building a real estate with perfect services at prices much more than the purchase price.

  • Sale of properties 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 Turkey

Real estate companies in Turkey, whether specialized in construction, contracting or intermediary companies, have a very large media activity that attracts local and foreign investors, and companies pursue several marketing methods, the most important of which are:

  • Marketing by organizing internal real estate conferences and exhibitions

  • Marketing by attending real estate fairs outside Turkey

  • E-marketing and social networks.

 

In this article, we explored the most important narrow aspects in the construction sector in Turkey and the future of construction, which is one of the factors that attract the increasing real estate investments in Turkey,

 We would also like to inform you on a permanent basis that in Fanar Realty we have distinguished strategic relations with the largest construction companies in Turkey and we obtain special privileges for our customers and buyers through us regarding prices in the first place and the rest of the services.

 

Therefore, we advise you to contact us to get your favorite properties and to realize your dream of owning in Turkey.