Favorites
WhatsappSend mailSend Viber message
+90 542 208 12 08

Turkish Contractors Undertook
$17.8 billion worth of Work Abroad

Turkey's overseas contracting sector undertook 167 projects in 9 months, with a total project cost exceeding $17.8 billion. It is increasing the volume of business it undertakes day by day.

 

According to the compilation made by the AA reporter from the Ministry of Commerce data, the Turkish contracting sector was started its activities abroad for the first time in 1972.

 

The international contracting market, which has been increasing its business volume especially since 2003, undertook 10,860 projects worth 439.7 billion dollars in 129 countries from 1972 until the end of September 2021.

 

 

Despite the serious political instability, cyclical problems and the effects of the new type of Covid-19 epidemic in the target countries in 2020, the real estate contracting sector received 354 jobs worth 15.2 billion dollars.

 

While the number of projects undertaken by the contracting sector in 2020 was 167, the total project cost amounted to 17 billion 774 million 492 thousand dollars. The average cost of the projects undertaken in 2020 was 106 million 434 thousand dollars.

 

In the distribution of projects undertaken abroad by Turkish contracting companies since 1972, by country, the Russian Federation ranked 1st with 20%. Up until today, 90.9 billion dollars of projects have been undertaken in Russia.

 

Russia is followed by Turkmenistan with a share of 11%, while the number of projects undertaken in this country exceeded 49.1 billion dollars. Iraq ranked 3rd with a 7% share and 30.7 billion dollars of projects undertaken. These countries were followed by Libya, Kazakhstan and Saudi Arabia.

In the distribution of the contracting sectors in which the most projects were undertaken since 1972, housing and residential projects took 1st place with a share of 13.7%. The cost of housing projects undertaken by the sector so far exceeded 59.5 billion dollars.

 

Residential projects were followed by highways, tunnels and bridges with a 12.8% share and a cost of 56.3 billion dollars

The energy sector ranked 3rd in the works undertaken abroad by Turkish contractors with a share of 8.7%. The amount of projects undertaken by the contracting sector so far has reached 38.1 billion dollars.

Up to now, contractors have undertaken a 33.2 billion dollar trade center and 29.8 billion dollar airport project abroad.

OTHER NEWS

Property Investment in Turkey:

What Should be Considered in Buying or Selling a Property?

There are the most important things when buying, selling, or renting real estate. The prior issues that should be considered the most are title deed and deposit. What should be considered when buyi...