Business Monitor International


Turkey Infrastructure Report

Published 04 September 2014

  • 81 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Turkey Infrastructure Report

BMI View : We forecast Turkey's construction industry should continue to perform well over 2015, after our 2014 forecasts were supported by official data of real growth at 5.2% in Q114 . A government guarantee and a buoyant pipeline of projects already under construction bode well for growth. However, political and financing risks have grown over the past year , which we believe will dent investor interest in the market, will lead to mor e moderate growth over the long term.

There continues to be downside risks to Turkey's healthy construction sector outlook, stemming from the major depreciation in the lira making the cost of foreign credit prohibitively high, which exacerbates the underdeveloped domestic long-term financing market. Despite these factors and elevated political risk over the latter stages of the year, 2013 saw robust growth in the industry. Now with Erdogan as President, we expect government support for the construction sector to continue, although we note his grip on power may threaten long-term investor interest.

On the back of a strong project pipeline, we maintain a healthy growth outlook. Average real construction industry growth for the period 2014-2023 is forecast at 5%.

Key Trends And De velopments

  • The successful sale of 30% Socar's Turkish subsidiary Petlim Ports, which is developing the port (also known as the Aegean Gateway Terminal), to US investor Goldman Sachs is indicative of the attractive investment profile many Turkish infrastructure assets still hold. The port sector in particular is an area which Turkey's privatisation drive has yielded numerous concessions being awarded and we expect good growth to continue over our forecast period.

  • Construction has begun on Istanbul's third airport and new bridge across the Bosphorus. The consortium building the connecting highway has secured financing for the next phase of construction.

  • Turkey's power privatisation scheme continues, and will likely see large investments...

Table of Contents

BMI Industry View
7
SWOT
9
Infrastructure SWOT
9
Industry Forecast
11
Construction And Infrastructure Forecast Scenario
11
Table: Construction And Infrastructure Industry Data (Turkey 2012-2017)
11
Table: Construction And Infrastructure Industry Data (Turkey 2018-2023)
12
Transport Infrastructure - Outlook And Overview
18
Table: Transport Infrastructure Industry Data (Turkey 2012-2017)
18
Table: Transport Infrastructure Industry Data (Turkey 2018-2023)
19
Major Projects Table - Transport
28
Table: Major Projects - Transport
28
Energy And Utilities Infrastructure - Outlook and Overview
32
Table: Energy And Utilities Infrastructure Data (Turkey 2012-2017)
32
Table: Energy And Utilities Infrastructure Data (Turkey 2018-2023)
33
Major Projects Table - Energy & Utilities
39
Table: Major Projects - Energy & Utilities
39
Residential/Non-Residential Building - Outlook And Overview
44
Table: Residential and Non-Residential Building Industry Data (Turkey 2012-2017)
44
Table: Residential and Non-Residential Building Industry Data (Turkey 2018-2023)
44
Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
48
Table: Key Projects Residential/Non-Residential
48
Industry Risk Reward Ratings
51
Turkey - Infrastructure Risk/Reward Ratings
51
Turkey's Risk/Reward Ratings
51
Rewards
51
Risks
52
Central And Eastern Europe - Infrastructure Risk/Reward Ratings
53
Limited Access To Funding
58
Table: Central And Eastern Europe Risk Reward Ratings
59
Competitive Landscape
60
Table: Turkey - Major Domestic Construction Players
61
Company Profile
63
Enka Insaat
63
Table: Enka H113 Results
65
Global Infrastructure Overview
66
Middle East/North Africa Presents Strongest Investment Profile
66
Methodology
72
Industry Forecast Methodology
72
Sector-Specific Methodology
73
Risk/Reward Rating Methodology
77
Sector-Specific Methodology
78
Table: Infrastructure Risk/Reward Rating Indicators
78
Table: Weighting Of Indicators
79

The Turkey Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Turkey Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Turkish infrastructure and construction industry.

Key Benefits

  • Benchmark BMI's independent infrastructure industry forecasts for Turkey to test other views - a key input for successful budgetary and planning in the Turkish infrastructure market.
  • Target business opportunities and risks in the Turkish infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant multinational and national company developments.

These are broken down into Construction (social, commercial and residential), Transport (roads, railways, ports, airports etc), and Energy & Utilities (powerplants, renewable projects, pipelines and so on).

Industry Trends

Analysis of latest projects across the infrastructure sector (covering the transport, utilities and commercial construction sub-sectors) - including:

Market Overview:Analysis of the key elements driving developments, including evaluations of current capacity and future requirements.

Building Materials Overview

The building materials overview provides industry trend analysis on the global and regional demands for building materials and the impact of this on the emerging and developed markets.

Business Environment Rankings

BMI's Infrastructure Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (construction companies, suppliers and partners) in the regional infrastructure market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data point.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the infrastructure and construction sectors and within the broader political, economic and business environment.

BMI Industry & Economic Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for all key industry and economic indicators, supported by explicit assumptions, plus analysis of key risks to the main forecast. Indicators include:

Construction: Industry value (US$bn); contribution to GDP (%); employment (`000); real growth (%).

Infrastructure: Value (US$bn); contribution to construction industry (%); real growth (%) of transport infrastructure (broken down by railways, airports, roads and bridges, ports and harbours) and energy and utilities (broken down by power plants and transmission grids, oil and gas pipelines, and water infrastructure).

Economy: Economic growth (%); nominal GDP (US$bn); unemployment (%); interest rates (%); exchange rate (against US$).

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc