Market news

The construction sector is experiencing critical period.

21.12.2008
The annual growth rate of Turkey's construction sector in 2005-2006 was 20%. However, in 2008 for the first 9 months this figure was -1.1%, and for the third quarter of -4.3%.

President of the Union of investors Erdal Eren reported that the slowed growth in the construction sector in 2007, this year could take a negative value. In this regard, Eren said that it is necessary to hold an emergency joint meeting of government and representatives of construction companies.

According to Eren in overcoming the crisis construction sector must play the primary role: " Accuracy and conformity to action plans of allocated 2.3 billion dollars on development projects of local significance GAP (the South Anatolian Project) DAP (Eastern Anatolian Project) and KOP (projects in the Valley of Konya ) Directly affect the growth of the construction sector in 2009. Because of such uncertainties at this stage is not possible to say exactly how much could slow down construction in 2009. We would be very glad to see soon the economy activated by the construction sector. In the event that this would not be there in 2009 at best, we can expect that growth will remain at the existing positions, and the rate reduction will not be more than 5%, it is better to be able to hope."

News was edited by "VESTA Estate".
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