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Turkey Infrastructure Report Q1 2014 - New Market Report

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2013-12-08 04:05:40 - New Construction research report from Business Monitor International is now available from Fast Market Research

Turkey's healthy construction pipeline, complete with numerous high-profile projects within both its infrastructure and residential/non-residential sectors, has seen projects both added and delayed over the last quarter. While we continue to see long-term strong construction industry growth, the delays, in addition to a glum economic outlook, have caused us to downgrade our forecasts for 2014. The short-term outlook has been dented by headwinds in the economy, which have caused BMI's Country Risk team to downgrade Turkey's economic growth forecast for 2013. Still, 5% average year-on-year real growth in the construction market over our forecast period far outstrips any developed market in the region, making Turkey an attractive investment destination.

There are downside risks to Turkey's healthy construction sector outlook, which come

in the form of the European debt crisis, structural flaws in the domestic pension and banking sectors making project financing difficult, along with the increasingly high cost of credit. Together, these factors resulted in a tough year for the industry in 2012. However, as we pointed out at the time, activity in the equity markets did not indicate that major Turkish construction players are unduly concerned, and on the back of a strong project pipeline, we maintain a healthy growth outlook. This view is now playing out. Average real construction industry growth for the period 2014-2022 is forecast at 5%.

Full Report Details at
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We see sustained healthy growth in Turkey's construction sector over our 10-year forecast period; however, due to the country's history of high volatility and abrupt trends, in addition to the potentially far-reaching repercussions for the Turkish economy if there were to be a contraction in the construction sector, we are keeping a careful eye on any developments.

Key developments over the last quarter:

* The rail sub-sector is already due for major investment, with the Turkish government planning to invest TRY20bn (US$11bn) in expanding Turkey's rail network over the next three years. In addition, the government has subsequently announced it will upgrade 70 percent of the railways to "double" lanes, a dramatic increase from the current proportion of only 4 percent of the country's network.
* Istanbul's third airport, which if fully realised will become the world's largest, was awarded in May to an all Turkish consortium headed by Limak Holdings. Construction is due to start in May 2014 and will sustain growth in the sub-sector over the medium-term. Financing is likely the greatest risk in this project, with the winning bid reaching US$22bn for the concession to build and operate the facility for 25 years.
* Progress on a number of road projects from the North Marmara Highway project and the beginning of construction on the Izmit Bay Crossing of the Istanbul-Izmir motorway to the financial close reached on the Istanbul tunnel to link the Asian and European sides of the city. In addition to a number of other projects, this activity is promoting strong growth in the road infrastructure sector, which we expect to average 6.6% between 2014 and 2018

Report Table of Contents:

BMI Industry View
- BMI Industry View
- Infrastructure SWOT
- Industry Forecast
- Construction And Infrastructure Forecast Scenario
- Table: Turkey Construction And Infrastructure Industry Data
- Table: Turkey Construction And Infrastructure Industry Data
- Transport Infrastructure - Outlook And Overview
- Major Projects Table - Transport
- Energy And Utilities Infrastructure - Outlook and Overview
- Table: Turkey Energy and Utilities Infrastructure Industry Data, 2011-2016
- Table: Turkey Energy and Utilities Infrastructure Industry Data, 2017-2022
- Major Projects Table - Energy & Utilities
- Table: Major Projects - Energy & Utilities
- Residential/Non-Residential Building - Outlook And Overview
- Table: Residential / Non-residential Industry Data 2011-2016
- Table: Residential / Non-residential Industry Data 2017-2022
- Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
- Table: Key Projects Residential/Non-Residential
Industry Risk Reward Ratings
- Turkey - Infrastructure Risk/Reward Ratings
- Turkey's Risk/Reward Ratings
- Rewards
- Risks
- Central And Eastern Europe - Infrastructure Risk/Reward Ratings
- Table: Central And Eastern Europe Risk Reward Ratings
Competitive Landscape
- Table: Turkey - Major Domestic Construction Players
Company Profile
- Enka Insaat
- Table: Enka H113 Results
Global Industry Overview
- Table: Latin America PPP Round-Up
- Industry Forecast Methodology
- Sector Specific Methodology
- Risk Reward Rating Methodology
- Sector Specific Methodology
- Table: Infrastructure Risk Reward Rating Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Bill Thompson
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