Sales of Turkish heavy construction equipment grew by 13 percent last year, but the sector has its eyes on more growth with predictions that nationwide urban transformation projects, Istanbul’s third airport and upcoming municipal elections in 2014 will soup up sales reports Hurriyet.

“The sector’s growth in 2012 seems low compared to previous years as growth in 2009 was 100 percent and growth in 2010 was 40 percent, but still it’s above the Turkish economy,” says Cüneyt Divriş, the chairman of the Turkish Heavy Equipment Distributors and Exporters Union.

Despite relatively low growth, Divriş asserted the government’s incentive for leasing VATs, which was introduced in 2011 along with policies of the central bank, have had prominent effects upon the sector. 

The Turkish government is expected to create a more “tax-neutral” environment and increase the number of issuances of leasing certificates by introducing a tax incentive for leasing certificates that benefit the construction sector.