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Turkmenistan Condominium Industry Analysis
Turkmenistan is a country in Central Asia with a rapidly growing economy, driven by its oil and gas reserves. The construction industry, including condominium projects, is a key contributor to the country's economic growth.
Currently, the condominiums construction projects industry in Turkmenistan is at a nascent stage. There are limited numbers of high-rise buildings, and most residential buildings are low-rise or single-family houses. However, the government has recently started focusing on developing the country's construction industry, and there are some ongoing and planned condominium projects in the capital city of Ashgabat.
One such project is the Bagtyyarlyk residential complex, which is being developed by the Turkish company Polimeks. The complex will consist of four 22-story towers with a total of 832 condominium units. The project is expected to be completed by 2024 and will provide much-needed housing in the city.
Another project is the new residential complex being developed by the Turkmenistan Ministry of Construction and Architecture. The project will consist of several 12-story buildings, providing around 4,000 new condominium units. The project is expected to be completed by 2025 and will be located in the city of Turkmenabat.
In terms of industry outlook, the future of the condominiums construction projects industry in Turkmenistan looks promising. The government has recognized the importance of developing the construction industry and has set ambitious goals for the sector's growth. The country's National Program for Socio-Economic Development for 2018-2024 includes plans to increase housing construction, including condominium projects, to meet the growing demand for housing in the country.
The government's efforts to attract foreign investment in the construction industry have also contributed to the positive outlook. Turkmenistan has implemented several investment-friendly policies, including tax incentives and streamlined regulatory procedures, to attract foreign investors. Additionally, the country's strategic location at the crossroads of Europe and Asia makes it an attractive destination for foreign investors.
In conclusion, the condominiums construction projects industry in Turkmenistan is still in its early stages, but with the government's focus on developing the construction sector, and the ongoing and planned projects, the outlook for the industry is promising. The country's strategic location and investment-friendly policies are also likely to attract foreign investors, further boosting the industry's growth.
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