Real Estate and Construction
Turkey is a nation whose economy is constantly growing and therefore whose infrastructural needs are also on a constant rise. The main pillar of growth is compiled of the real estate and construction industry. With more than 200 sub-sectors, the real estate and construction industry’s share of the gross national product is approximately 30%.
Turkey’s real estate and construction industry has been growing rapidly in recent years; whether it be housing and office building projects, or whether it be infrastructural projects such as bridge, road and dam constructions. Having ensured a partial price stability by reduced inflation rates to regular levels, the fact that the European Union negotiation process has started, and developments in the tourism industry have all been cause for this particular industry to become a focus of interest in the last decade. Besides this, real estate investment partnerships are also on the rise due to important tax-related advantages. Also, regulations in relation to real estate investment funds have been completed and are expected to become a widespread application in the near future.
Another dynamic of the industry is office investments. Developing parallel to the increase of their needs, office projects are gaining importance as well, especially in big cities. The urban renewal law will also influence the growth potential of this industry in the near future.
As BDO, we have gained invaluable experience thanks to the consultancy and audit services we have provided over the years to our numerous clients who have carried out countless projects in the real estate and construction industry; building shopping malls and housing compounds (both domestically and internationally), offices and housing, as well as infrastructural projects such as constructing roads, bridges, dams and pipe laying. With our expert and reliable team, we are here to assist you in reaching your business and financial goals in this industry, in every step of the real estate development and construction value chain.