Turkish Construction Companies Are in Increasing Demand Worldwide

In 2024, Turkish construction companies successfully completed projects worth $28.6 billion, with Saudi Arabia emerging as the largest market. The Turkish Contractors Association (TMB) plans to expand into new markets and aims to reach an annual project volume of $50 billion in the near future.

Turkey’s Minister of Trade, Ömer Bolat, emphasized the importance of international construction services in strengthening the country's economic influence and global reputation. He noted that despite economic challenges and geopolitical instability, significant progress was made in 2024. Saudi Arabia took the lead in project volume, surpassing Russia, which had previously been the top market.

In 2024, 44.7% of the total project value was realized in the Middle East, 29.8% in African countries, and 13.2% in the CIS region.

Since 1972, Turkish contractors have completed 12,461 projects in 137 countries, totaling over $533.8 billion. According to the 2024 ranking by Engineering News-Record (ENR), Turkey ranks second in the world after China in terms of the number of companies engaged in international construction and eighth in total revenue from overseas projects.

The technical consulting sector in 2024 lagged behind expectations due to several negative global factors. The total project volume in this sector reached $3.46 billion across 138 countries, but the annual value of new projects amounted to $194.2 million, falling short of the planned $200 million.

"We are actively exploring opportunities in the Gulf countries and Iraq. We plan to expand our presence in Saudi Arabia, Iraq, as well as in Central Asia, the Balkans, Europe, and sub-Saharan Africa. Our medium-term goal is to reach an annual volume of $50 billion in overseas projects," he stated.