Akfen established its first company in 1976 as Akınısı A.Ş., and made its growth with engineering projects and lodging buildings. Upon establishment of Akfen İnşaat (Akfen Construction) in 1986, Akfen expanded its fields of activity and became one of the most important infrastructure groups developing projects all around Turkey as an investor.
Akfen gained holding status in 1997 pioneered establishment of TAV Airport Company with Tepe Group at the end of 1990’s, the years when projects in Build-Operate-Transfer model was rather popular in Turkey. TAV Airports, which was established in 1997, assumed the contracts of Istanbul Airport and Ankara Esenboğa Airport with Build-Operate-Transfer model in a short span of time. TAV carried its activities abroad and became a huge airport brand opening to the world from Turkey.
Akfen took its leadership in the air to the seas step by step. Akfen first received privilege of Kuşadası Voyager Port in 2003 together with the US Royal Caribbean Cruise Lines Company; and then was awarded with the contract of operation of Mersin Port in cooperation with world leading port operator Port of Singapore Authority (PSA), which is registered in Singapore, in 2005. Akfen then undertook operation of Istanbul Sea Busses (IDO) in 2011 in cooperation with Tepe, Sera and Scotch Couter Investments.
While achieving great successes in air on sea, Akfen also made its presence felt on the land and was awarded with the operation contract of all vehicle inspection stations in Turkey with TÜVTÜRK Company, which was established in partnership with Doğuş Group and German TüvSüd in 2005.
Akfen started its activities in the field of city hotels within the scope of its long-term cooperation with French Accor Group, which is one of the chain hotels of the world, in 2007; and established hotels in Turkey and Russia with Novotel and Ibis Hotel trademarks. Akfen added its hotel in Turkish Republic of Northern Cyprus to its hotels in Turkey and Russia and offered its hotel portfolio to public through Akfen Gayrimenkul Yatırım Ortaklığı (Akfen Real Estate Investment Trust) in 2011. Gaining great experience in the field of offering to public, Akfen offered TAV Airports to public in 2007 and made the first and secondary equity offering of Akfen Holding in 2010. It also offered its securities at an amount of 80 million Turkish Liras to public in 2011.
Starting to establish its portfolio in the field of renewable energy, which is a rising trend together with the sensitivity towards environmental protection all around the world, Akfen has started to purchase several hydroelectric and solar power plants in Turkey as of 2011. Akfen has started to be one of the most important actors of Turkey in the field of clean energy production from renewable energy, solar, wind and water resources strengthening itself with great partners such as European Bank of Rural Development (EBRD) and International Finance Corporation (IFC).
Since 2017, Akfen has become one of the leading actors in the field of City Hospitals developed with Public-Private Partnership Model, which is the investment thrust of Turkey in the field of health. Akfen completed Isparta City Hospital in 2017, Eskişehir City Hospital in 2018 and Tekirdağ City Hospital in 2020, which have an investment value of 1.1 billion US Dollars, as it guarantees, and started to operate.
Akfen Çevre ve Su Şirketi (Akfen Environment and Water Company), which was established as a leading company in Turkey in the field of water, waste water and solid wastes, has been offering investment, financing, engineering and operation solutions designed according to the needs of the public and private sector customers since 2008. There are many city hospitals and companies, which the Company serves.
Akfen gained significant achievements in Turkey as a result of partnerships established with domestic companies such as Tepe, Alarko and Doğuş Group and huge foreign companies such as Accor, PSA, ADP, IFC, EBRD and TüvSüd; and created values with its employments and quality and provided foreign exchange inflow to the country through share sales.
One of the model groups of Turkey with its management structuring, human resources potential and transparency policy, Akfen has been continuing to grow up and reproduce the values of Turkey.
Akfen Group Structure
* Listed on Borsa Istanbul
** As of 30 May 2018, following the paid-in capital increase of Akfen Construction, Akfen Altyapi Holding’s stake declined to 51.19%, whereas Akfen Holding obtained the remaining 48.81% of the company.
To create sustainable values for our shareholders by following growth strategy through strong strategic partnerships in the fields of infrastructure investment which are predictable with high potential of development, procuring consistent cash flow and mostly monopole characters or with less competition.
We do aim to contribute in the most possible effective way through our responsible institutional citizenship identity, to our country’s economy aiming to be a serious player of the global economy, by our entrepreneurship, investment specialization and our quality of being a trustful partner in Business development which all constitute the basics of our institutional culture.