Alamy via Reuters
- Turkish government incentives
- Downloads exceed three billion
- Global top 10 player
Turkey’s game design sector is scoring big both in terms of international appeal and investment, riding on a rising tide of downloads and funding.
In mid-June, Istanbul-based studio Bigger Games announced it had raised $25 million in Series A funding, gaining backing from Goldwater Capital and other gaming investors attracted by the company’s recent success, having posted more than 110 million downloads of its current titles.
Announcing the funding round, Bigger Games said it intended to use the money to expand its staffing levels and scale up its lead product, the mobile game Kitchen Masters, which combines travel and challenges with a culinary twist.
The designer was just the latest Turkish games producer to hit the funding jackpot, with more than $90 million raised by companies in the segment so far this year, either through sales or strategic investments.
Among the big ticket winners were Istanbul’s Grand Games, which raised $30 million through a Series A round; Good Job Games with an investment round that attracted $23 million and Fuse Games with $7 million.
This funding is going into a sector that has managed a strong track record of success in a relatively short period of time.
According to mobile app analysis company 42matters, the top 10 Turkish game developers have combined for more than 3 billion downloads of their products.
There are a number of factors contributing to the gaming segment’s rapid development, Özgür Karayalçin, vice chair of the Game Developers Association of Turkey, told AGBI.
“The increased ease of entering the market via the mobile sector, state incentives, youth moving into the industry and investment inflows are combining to create success, each feeding into the other,” he said.
The incentives benefitting the sector introduced by the state include providing tax holidays, reduced costs of registering a company, dedicated workspaces, deductions in social security payments for staff and reductions in utilities outlays to encourage growth in the tech industry.
These incentives are part of a wider support package being rolled out by the government to bolster the tech industry, with the HIT-30 programme launched in July 2024 intended to make the country a high-tech industrial hub by 2030.
- Debate, but no turning back for the team driving Turkey’s economy
- European bank’s $86m aid to create jobs in Turkey
- ‘Pokémon Go’ maker to sell game division to Scopely
Helped along by the positive environment, Turkey’s gaming sector is set for sustained success and growth over the coming two years and beyond, said Karayalçin, attracting increased investment streams.
“Globally, in the game developing sector Turkey is among the top 10, something not seen in any other sectors,” he said.
“Studies and reports on the sector show Turkey is among the countries with the potential to grow.”
Register now: It’s easy and free
AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East.
Why sign uP
- Exclusive weekly email from our editor-in-chief
- Personalised weekly emails for your preferred industry sectors
- Read and download our insight packed white papers
- Access to our mobile app
- Prioritised access to live events
Latest articles
Private-sector hiring rises in Saudi Arabia and Kuwait
Business conditions for non-oil private sectors in Saudi Arabia and Kuwait have improved but the UAE experienced a slowdown due to rising regional tensions, three surveys have found. Increased volumes of new work spurred an acceleration in hiring activity across Saudi Arabia, leading to the sharpest rise in employment levels since May 2011, according to […]
Saudi and Indonesian private companies sign $27bn deals
Private sector institutions in Saudi Arabia and Indonesia have signed deals and memorandums of understanding worth $27 billion as the countries seek to increase bilateral trade. The agreements are mostly in the clean energy, petrochemicals and aviation fuel sectors, state-owned Saudi Press Agency (SPA) reported, quoting a joint statement. Indonesia’s sovereign fund Danantara signed an […]
UK lends $300m to accelerate Egypt’s green drive
The UK government-owned British International Investment (BII) will provide $300 million to support two renewable energy projects in Egypt, accelerating the North African country’s clean energy ambitions. The $1.2 billion Gulf of Suez wind farm, Africa’s largest onshore wind development, is expected to generate 4,500 gigawatt (GW) hours annually, eliminating 2.5 million metric tonnes of carbon […]
Saudi mining giant Maaden buys out JV partner Alcoa
Maaden has bought out its partner in a mining joint venture, the US aluminium producer Alcoa. The Saudi listed company acquired Alcoa’s 25.1 percent stake after increasing its capital by 2.3 percent to SAR38.89 billion last month. The joint venture was created in 2009 as a fully integrated mining complex in Saudi Arabia. It comprises two […]
Dubai Duty Free revenue tops $1bn on Eid holidays
Dubai Duty Free said revenue rose 5 percent year on year to more than AED4 billion ($1 billion) in the first half of 2025, thanks to the Eid holidays and early summer travel rush. Perfumes, liquor, cigarettes and tobacco, gold and confectionery remained the top-performing categories, the UAE state-run Wam news agency reported. Perfume sales […]
QatarEnergy-backed Texas JV seeks LNG re-export nod
Golden Pass LNG, which is owned by QatarEnergy and Exxon Mobil, has asked US regulators for permission to re-export liquefied natural gas (LNG) from October 1, as the export plant nears production after previous delays. The company said it wants to re-export a cargo of LNG that it plans to import to cool down its […]
QIA invests in medical startup Kardium’s fundraising round
Qatar Investment Authority has invested in the $250 million new financing round of Canadian pharmaceutical startup Kardium, which will facilitate the launch of its latest device to treat heart rhythm disorders. The other new investors include Janus Henderson Investors, Piper Heartland Healthcare Capital, Eventide Asset Management and Eckuity Capital. The new funding will enable Kardium […]
37 bidders for Libya’s first energy tender in decades
Global energy companies are reportedly among the 37 bidders for Libya’s first energy exploration tender as the Opec member seeks to increase production. US-headquartered Chevron and Exxon Mobil, France’s TotalEnergies SE and Italy’s Eni have submitted offers, Bloomberg reported. The contracts are due to be signed with winners by the end of 2025, state-owned National Oil […]
‘Got any friends?’ Abu Dhabi seeks agency to sign up showbiz pals
Chris Hemsworth, Will Smith, Ryan Reynolds – all have walked red carpets in Abu Dhabi as part of the emirate’s strategy to attract attention and tourists. Now its government wants even more star power to keep Abu Dhabi in the spotlight and keep pace with the celeb squads working for its Gulf neighbours. To find […]
ACICO sells Kuwaiti hotel to settle bank debt
ACICO Group, a Kuwaiti construction and real estate conglomerate, has sold a hotel to a bank for about KD60 million ($198 million) as part of a debt restructuring plan, it said on Wednesday. The listed group, which started out as a manufacturer of building materials, said the unnamed bank had agreed to take over one […]
Oman and Russia discuss food security investments
Oman and Russia are discussing Russia setting up joint investments to enhance food security and improve the sultanate’s agricultural projects and water resources. The talks will lead to a memorandum of understanding between the two countries to advance sustainable food systems in different parts of Oman. “The ongoing investment plan between Oman and Russia on […]
Dubai bankers set up wealth manager for ‘poor millionaires’
Former Emirates NBD bankers have set up a Dubai wealth company to serve the Gulf’s growing millionaire class, arguing that the region’s private banking model puts sales targets ahead of client interests. The UAE is slated to attract 9,800 extra high-net-worth individuals this year – more than any other nation – according to consultancy Henley […]
