Over the last ten years, privatization activities have peaked and there have been major changes in Turkey’s macroeconomic figures. Since 2006, the economy has grown by 157.6 per cent in current prices. As a result of their ability to make the most of conj

Capital (Turkey) - - RESEARCH -

lot of things have changed over the last ten years. Turkish companies have made the most of increasing financing possibilities, opened up to the rest of the world and diversified their markets. The increase in privatization activity has boosted volumes. When we look at those who have recorded the greatest increase in their turnovers, we see that they are mostly those who have been the stars of the privatization tenders. Evidence of this can be seen in the fact that Limak and IC, who have been the most active in privatization tenders, are ranked amongst the top three.

Limak Holding, which has vigorously pursued privatization tenders, has adopted an even higher profile in the giants’ league since it won the contract for the third Istanbul airport. At every opportunity, Limak Holding Nihat Özdemir has stressed the role that conjunctural events have played in their growth in recent years and believes that there will be no slowdown in the current tempo over the next 10 years. Indeed, Özdemir says that the privatization contracts they have won means that they will achieve the targets they have set for themselves sooner than expected. He says that they were aiming for turnover of $5 billion in 2023 but they may now reach this target in 2018.

IC Holding, which was established 47 years ago, has grown more quickly than at any time in its history and has won major tenders such as Galataport, the Bomonti Brewery, and Antalya and Sabiha Gökçen airports. The group, which has won thousands of tenders at home and abroad, is now in the process of completing the North Marmara Motorway, which also includes the third bridge across the Bosphorus.


There is no doubt that the rapid rise in the construction and contracting sectors over the last 10 years has enabled many companies in these sectors to enter a higher league. Sinpaş and Nurol have also succeeded in growing significant in this way.

As construction has become the locomotive of the economy, the sector has made significant progress in terms of corporate institutionalization and brand name

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