Problems remain in the building sectors of most of the countries covered in this issue of the Market Monitor. Consequently, the outlook for the construction industry in 2015 remains muted.
Market performance at a glance
- Turkish construction growth slowed to 2.9% in Q3 of 2014.
- International projects of Turkish builders decreased due to the on-going conflicts in Iraq and Syria and the downturn in Russia.
- In 2015 investment in public construction is expected to increase ahead of the June general elections and due to some large infrastructure projects.
- Despite persistent growth, risks in the construction sector are increasing as many businesses are highly indebted and non-performing loans are rising.
- High interest rates hampering business performance.
- Bankruptcy protection requests are increasing.