Wednesday, April 27, 2016

Turkish conglomerates race into construction, hunting quick profits | Reuters

Turkish conglomerates race into construction, hunting quick profits

* Companies hit elsewhere turn to construction

* Turkish house prices among world's fastest rising

* Building boom risks undermining sustainable growth

By Asli Kandemir and Ceyda Caglayan

ISTANBUL, April 27 Turkish conglomerates are racing to add high-end apartment blocks and office towers to Istanbul's rapidly-changing skyline, turning to one of the world's most profitable real estate markets for quick returns as other parts of the economy suffer.

More:Turkish conglomerates race into construction, hunting quick profits | Reuters