Real Estate Rear Up Mega Projects

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The construction which the most important sector of the economy rear up with mega projects in 2023. The future will witness the real estate environment that come to the forefront mega cities, not countries.

The main agenda of the real estate sector in Turkey , in 2023, will be urban transformation, green buildings, new airport, Kanal Istanbul, mega projects, new highway projects, hospitals, hotel investments and logistics centers. Despite all the negativities, Turkey is among in the first twenty countries in the world economies. In 2023, the target of entering the world’s top 10 economies is expected to rise from 20 thousand to 25 thousand dollars per capita in Turkey. When we look at the relationship between the construction sector and economic growth, we see that the sector has grown every year in parallel with economic growth in the last 5 years. This rate come true approximately twice the annual economic growth of Turkey. Despite the economic growth figures for the third quarter of 2016, the construction sector showed an increase of 1.4. The construction sector is going to continue in the coming period as it has been in recent years.


Becoming Megacenter

Megakent Istanbul is a major transformation. The mega-projects that lead the economic development go into effect one by one. In the sector that will grow in the lead of the private sector, financing will gain importance. According to the figures released by the Turkish Statistical Institute, house sales reached 132 thousand 655 by increased 25.1 percent in November, when compared to the same period in 2015.

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