Which construction approach is known as turnkey construction?

Turnkey construction refers to a project delivery method where the contractor takes complete responsibility for all aspects of the project, including design, construction, and financing, ultimately delivering a fully functional project ready for use. This approach streamlines the process for the client, as they have a single point of contact and do not need to manage the various stages separately.

By handling everything from start to finish, the contractor simplifies communication and project management, which can lead to increased efficiency and potentially lower costs. Clients appreciate the predictability and convenience offered by turnkey construction, as they can turn the key and enter a completed project without needing to be involved in the day-to-day management of the construction process.

In contrast, the other approaches mentioned do not encapsulate the essence of turnkey construction. Collaborating with multiple firms introduces complexity and suggests a more fragmented approach, while allowing clients to choose subcontractors implies client involvement in the construction process that isn't characteristic of turnkey projects. Lastly, a model focused only on home renovation does not reflect the comprehensive nature of turnkey construction, which can encompass various types of projects beyond residential needs.