Turkish construction sector grows in Q1

Construction sector grew in Turkey in the first three months of 2010.

Turkish construction sector grows in Q1

 

Construction sector grew in Turkey in the first three months of 2010.

According to the report of Association of Real Estate Investment Companies (GYODER) on Turkish real estate sector, Turkey's construction sector, which shrank for the last eight quarters, grew eight percent in the first quarter of 2010.

The report stressed that the sector reached the necessary growth speed in the mentioned period.

Turkish economy also grew 11.7 percent in that period, noted the report.

Assessing the report, GYODER's Executive Board Chairman Turgay Tanes said that the growth in Turkey and developed economies in the first quarter of 2010 boosted the morale.

Tanes said that although the demand increased in use of real estate loan, there was a general stagnation in prices and rents in Turkey.

He noted that the growth and movement in financial activities was contributing to revival of commercial real estate market.

GYODER was established in 1999 to promote and represent the real estate industry, to encourage the development of the industry, to provide, improve and protect standards for quality, control and education within the sector.

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Güncelleme Tarihi: 08 Temmuz 2010, 11:12
YORUM EKLE