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Turkey Prefabricated Multi-Family Home Industry Analysis
The prefabricated multi-family homes, modular homes, and manufactured homes construction industry in Turkey is a rapidly growing sector. With the increasing demand for affordable housing, the government has been promoting the use of prefabricated construction methods, making it one of the most attractive industries in the country.
The current scenario of the industry in Turkey is characterized by the construction of several large-scale projects using prefabricated construction methods. The government has invested heavily in this industry, recognizing the potential to meet the growing demand for affordable housing. Moreover, there is a growing interest from the private sector in utilizing this construction method, leading to the emergence of many local and international companies involved in the production of prefabricated housing units.
The outlook for the industry in Turkey is very promising, as the government has set an ambitious target to construct one million homes using prefabricated construction methods by 2023. According to a report by Mordor Intelligence, the market for prefabricated building construction in Turkey is expected to grow at a CAGR of 7.6% from 2020 to 2025.
One local company that is leading the way in prefabricated construction in Turkey is Gap Insaat. The company has completed several large-scale projects using prefabricated construction methods, including the construction of 6,500 homes in the Yildizeli district of Sivas province.
Another local initiative promoting the use of prefabricated construction methods is the Ministry of Environment and Urbanization's "Affordable and Sustainable Housing Project." The project aims to provide affordable and sustainable housing to low-income families in Turkey using prefabricated construction methods.
In addition to the government's support, there is a growing interest from foreign investors in the industry. For instance, the European Bank for Reconstruction and Development (EBRD) has provided a loan of ?18 million to Gap Insaat to support the company's prefabricated construction projects.
In conclusion, the prefabricated multi-family homes, modular homes, and manufactured homes construction industry in Turkey is a rapidly growing sector with enormous potential. With the government's support, the involvement of local and international companies, and growing interest from foreign investors, the industry is poised for substantial growth and could help provide a sustainable solution to Turkey's housing needs.
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