CONSTRUCTION

Construction sector, known as one of the leading sectors with employment opportunities and a feature of activating sub-sectors, has a particular importance to every world country. Growth rate of construction sector in developing sectors than in developed countries is faster. According to Global Construction 2020 Report published by Global Construction Perspective and Oxford Economics, while 3.2% shrinkage is expected between the years of 2010-2020 in developed countries, 7.2% growth is expected in developing countries. The two most important factors effecting the development of sector are known as population growth and deficiency in infrastructure. Expected population growth in Brazil, India and such countries are expected to have an increase in residential and commercial construction. Due to infrastructure deficiency in developing countries, it is estimated that the area of growth will be more infrastructure oriented.

Sector Status in TRNC

According to the research done by state planning organization, construction sector in TRNC activates 27 sub-sectors. Developments in construction sector directly affect the economic situation of the country. Because of infrastructure deficiency in TRNC and increasing growth of population, construction sector is expected to develop increasingly in the following years. Lands and properties are divided into 3 classifications after events of 1974; Turkish Cypriot property, equivalent property, Greek property. Property classification and current uncertainty affect the company sales active in construction sector and pose an obstacle on further development of the sector. As a result of opening of borders in 2003, there has been a boost in construction in the country. The development of construction companies has gained speed especially after 2003. Customers of construction companies generally consist of Turkish, English, Russian, Persian, and Israeli citizens.  

How can we help as GRS?

Sector’s growth capacity in the following period is based on its renovation capacity in terms of trade, technology, and environment. With its experienced expert staff Saydam & Co. family can help you to renew yourselves parallel to sectoral developments, take actions relevant to sectoral legal arrangements, and develop quality, accounting, finance and project management as well as preparation of agreements and tenders compatible with legal procedures and their successful completion. 

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