2010 annual report

Transkript

2010 annual report

2010
ANNUAL REPORT
We are from Ankara. Both Dad and I were born here in Hacettepe.
Dad and Mom met at Bilkent. Dad studied engineering and Mom studied
business management.
They both graduated the same year…
Mom works for the University and Dad works for Tepe İnşaat. He is an
electrical enginneer.
He says they are making great stuff. One of their projects is Tepe Prime on
the Eskişehir highway. It will become a real landmark in Ankara once it is
completed.
Dad says they are also building huge facilities and factories. They even
built an underpasss in Ankara.
Oil is transported to Turkey from far away by the enormous pipelines that
Tepe İnşaat builds…
Father really wants to buy a house in Narcity when he retires and we move
to Istanbul. Mom is only too happy to do this also since her whole family is
there.
Speaking of Istanbul…
I went to Istanbul with Grandpa to visit my Aunt and Uncle during my midterm break.
My Aunt lives in a wonderful house with a garden. She told us that her
neighbors were celebrities! I played with cousin Arda and Tarçın in the
garden.
Afterwards, my Aunt took us shopping. We had so much fun.
We went to my Uncle’s with Grandpa later. He lives on the European side
of the city in a nice house but it’s not as large as my Aunt’s house.
We went to Kanyon and watched a 3D movie. My Uncle gave me a gift.
He showed me his office on the way back home. It was in the huge, tall
towers...
I was so happy when he said “your Dad’s company made
those towers.”
WE STRIVE TO MAKE THE COMING GENERATIONS PROUD OF US
CONTENTS
2 Company Profile and Shareholding Structure
3 Vision, Mission and Corporate Values
4 2010 in World
5 2010 in Turkey
6 Construction Sector in Turkey in the year left behind
8 Bilkent Holding
11 Tepe İnşaat
12 Operations Map
14 Financial Highlights
18 Message from the Management
20 Board of Directors and Board of Auditors
21 Senior Management
22 Milestones
33 Subsidiaries and Affiliates
34 2010 Operations
Domestic Projects
International Projects
Investment Projects
59 TAV Havalimanları (TAV Airports)
70 TAV İnşaat (TAV Construction)
74 İstanbul Deniz Otobüsleri (İDO)
76 Human Resources
78 Occupational Safety, Environment and Quality Policy
80 Bilkent University
87 Consolidated Financial Statements
As a brand name for more than 40 years, Tepe İnşaat
continues to maintain its standing in its industry.
During the 41 years since its establishment, Tepe İnşaat
has created groundbreaking projects that began with
the İş Bankası Headquarters Complex, Turkey’s first
smart building. It continued with Tepe Nautilus, which
holds the distinction of being the largest shopping
center on Istanbul’s Anatolian side as well as Turkey’s
first thematic shopping mall. The Prime, Narcity and
Narkule projects that were unveiled by Tepe İnşaat also
stand out with emphasis on quality and architectural
aesthetics. They meet the housing and office space needs
of the economy and are considered by many to be among
a select few prestigious projects undertaken in the real
estate sector in recent times.
Developing projects in diverse segments of the
construction industry, in Turkey as well as abroad,
Tepe İnşaat introduces innovations to the sector while
remaining steadfast to its commitment to quality.
Since the day it was established, Tepe İnşaat has been
transferring the value and resources it creates to
Bilkent University, Turkey’s first private university and
one of the country’s leading educational institutions.
Tepe İnşaat’s primary source of motivation is the pride
of contributing to Turkey’s bright future. With this
distinction in mind, Tepe İnşaat will focus on being
successful in every project it takes part in with an
approach that strictly adheres to its quality policy, has
faith in its workforce and that follows contemporary
needs and technological developments.
tepe inşaat
2010 ANNUAL REPORT
Company ProfIle
and ShareholdIng
Structure
2
Taking pride in completing its 41st year, Tepe İnşaat is positioned as leader
in its field with consistent success it has carried since its foundation.
Since 1969, Tepe İnşaat has been active in the construction
sector, one of the most important pillars of Turkish economic
development. Following 40 years in this gigantic and
challenging sector, the Company has proudly assumed
leadership in its field with a consistent list of achievements
since day one. Responding to rapidly-evolving demands of
the modern world with equally rapid solutions, Tepe İnşaat
considers the “peak” merely as the point of departure for
development, success and service rather than a target.
That is why Tepe İnşaat has constantly strived to go “to the
leading edge, toward being the best” even after 41 years at
the peak of its sector.
As one of the most powerful and effective architects of urban
transformation, Tepe İnşaat has played an important role in
the development of Turkey by undertaking numerous
Shareholders
Bilkent Holding A.Ş.
Bilkent Holding A.Ş.
Tepe Emlak Yat. İnş. A.Ş.
Tepe Savunma ve Güv. Sis. A.Ş.
Tepe Mobilya San. ve Tic. A.Ş
Tepe Home Mob. Dek. A.Ş.
Meteksan Matbaacılık A.Ş.
Share Class
A
B
B
B
B
B
B
large-scale projects such as hospitals, airport terminals,
pipelines, power plants, business and shopping centers.
An important source of pride for Tepe İnşaat has been its
contribution to social and economic development, based on
Prof. Dr. İhsan Doğramacı’s philosophy to “be the leading
edge, toward being the best.”
Tepe İnşaat meets the demands of the day in its field
of activity with great care and thoroughness. Striving
constantly to enhance its status with the force provided
by its employees’ efforts, support and know how, the
Company considers it as a national responsibility to carry its
experience, accumulated knowledge and vision beyond the
region.
As of December 31, 2010 Tepe İnşaat’s registered capital is
TL 625 million
Share of Capital (TL)
1
536,651,576
83,333,406
4,545,181
278,111
172,491
19.234
0.8%
Bilkent
Holding A.Ş.
Share %
0.00000
85.86
13.33335
0.72723
0.04450
0.02760
0,00308
Note: As of December 31, 2010 registered capital was TL
625,000,000 and after the Ordinary General Assembly Meeting in
April 2011 it was raised to TL 780,000,000.
Shareholding Structure (%)
85.9%
Number of Shares
1
536,651,576
83,333,406
4,545,181
278,111
172,491
19.234
Other
13.3%
Tepe Emlak
Yat. İnş. A.Ş.
tepe inşaat
2010 ANNUAL REPORT
VIsIon, MIssIon and
Corporate Values
3
Tepe İnşaat will continue to create added value to Bilkent University
and Turkey with its experience and know-how, highly qualified human
resources, state-of-the-art technology and a service philosophy that
prioritizes customer satisfaction, as it has for the last 41 years.
Vision
To engage in manufacturing at world standards, adopting
the principle of uncompromised quality at every stage
and all details of each project. To conscientiously adopt
all contemporary requirements in the employees’ areas of
expertise utilizing their strength, support and knowledge,
with the awareness that employees are a company’s most
valuable asset and to further advance the Company’s market
position with sustainable growth perspectives.
Mission
To generate resources for Bilkent University that allows it to
develop and grow.
Corporate Values
Tepe İnşaat is:
Focused on customer satisfaction
Constantly monitors evolving customer expectations to
achieve continuous customer satisfaction.
Dedicated to ethical values and the law
Strives for competitiveness, productivity and profitability and
works to provide the best service and product quality in its
field; it is totally dedicated to the laws and ethical values.
Aware of its responsibilities
Is cognizant of its national responsibility and major corporate
goals to expand its experience, know-how and vision beyond
the region.
tepe inşaat
2010 ANNUAL REPORT
The World In 2010
4
According to forecasts by international economics experts,
the economic recovery that accelerated thanks to the support of
national governments and displayed large regional variation in
performance during 2010 will continue in 2011.
2010 went on the books as a year where positive financial
indicators, accepted as a sign that the sun is finally setting
on the global financial crisis, began to pervade the markets.
Nevertheless, the concerns that emerged in the second
quarter of the year regarding the sustainability of public debts
of some euro zone countries such as Ireland, Spain, Portugal
and Greece, demonstrated that the global recovery is still
vulnerable to various risk factors.
Another development that stands out with respect to the
global recovery is the brilliant growth performance of the
emerging markets block, led by the BRIC (Brazil, Russia,
India and China) countries. Countries in this group have
displayed robust growth performance and are anticipated to
reach a more prominent standing in the world economy in
the period ahead. The developed countries, which were at
the epicenter of the financial crisis of 2009, so far had a very
sluggish recovery, much slower than hoped for owing to the
deterioration in their budget balances and public debt levels
as well as weak domestic consumption.
According to forecasts by international economics experts,
the economic recovery that accelerated thanks to the
support of national governments and displayed large regional
variation in performance during 2010 will continue in 2011.
However, as proven by the economic problems that reared
their ugly heads regionally in 2010, it will be a long while
before full stability is achieved in the global economic system.
tepe inşaat
2010 ANNUAL REPORT
Turkey In 2010
5
After contracting by 4.7% in 2009, the peak point of the global
financial crisis, the Turkish economy outperformed even the most
optimistic expectations and registered a growth rate of 8.9% in 2010.
Turkey performed successfully even in the face of the global
financial crisis thanks to its macroeconomic policies built
on fiscal discipline, a balanced budget and its solid banking
system. Turkey is being pointed out within the international
economic circles as one of the candidates to join the
emerging markets category widely referred to as BRIC
(Brazil, Russia, India and China). Showing great resilience in
the face of the aftershocks in the world economy in 2010 as
well, Turkey once again proved that it is on a robust growth
path.
After contracting by 4.7% in 2009, the peak point of the
global financial crisis, the Turkish economy outperformed
even the most optimistic expectations and registered a
growth rate of 8.9% in 2010. This performance corresponds
to the highest economic growth rate among the OECD
members and bears out Turkey’s great potential for the
future based on its dynamic economy, increasingly important
geopolitical position and a favorable demographic makeup
consisting mostly of young people.
tepe inşaat
2010 ANNUAL REPORT
6
ConstructIon
Industry In
Turkey durIng
the Past Year
Pickup in domestic consumption and a surge in private sector investments
constitute the primary factors in Turkey’s growth during the first half of 2010.
The construction industry is of major significance for the
Turkish economy and should be considered in conjunction
with the other sectors that it feeds.
Many other industries including Iron & Steel, Cement,
Ceramics and Coating Materials, Architecture, Paint and
Construction Chemicals, Lighting, Natural Stone and
Marble are also directly affected by the developments in the
construction sector.
The growth performance of the Turkish economy in
2010, highlighted above, also had a favorable impact
on the construction industry. As depicted in Table 1, the
construction industry continues to be the most responsive
and sensitive sector to the aggregate growth dynamic. The
figures show that the construction industry is rapidly gaining
back the ground it lost due to the global crisis.
The pickup in domestic consumption and the surge in
private sector investments constitute the primary factors in
Turkey’s growth during the first half of 2010. Private sector
investment surged by 27.7% compared to the same period
of the previous year while private consumption expenditures
were up by 7.3%. The increase in private sector’s fixed
capital investments played a major role in this development.
The significant developments recorded in 2010 from the
construction industry’s perspective include the momentum
in public sector spending, the increase in the number of
infrastructure and superstructure projects, the rise in the
number of residential building permits and the growth in the
volume of mortgage loans.
Office and shopping center lease demands and new
investments are vibrant areas in the commercial real estate
sector. In addition, expansion in the mortgage loan books is
the most concrete evidence of the resurgence in the mass
housing sector. This expansion continued throughout the
year, with a notable acceleration in the final months of the
year. By the beginning of December, the volume of mortgage
loans had gained 29.6% compared to the beginning of the
year; it reached TL 55.2 billion while the share of mortgages
within overall lending was unchanged during this last period.
The forecasts call for a continuation of the strong growth
momentum of 2010 into 2011, albeit at a slower pace and
cautious growth in the construction industry based on the
overall growth performance of the Turkish economy.
ConstructIon
Industry In
Turkey durIng
the Past Year
tepe inşaat
2010 ANNUAL REPORT
7
GDP and Construction Industry Growth Rates (%)
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
-20.0
1999
2000
2001
2002
Construction Sector Growth Rate
2003
2004
2005
2006
2007
2008
2009
2010
GDP Growth Rate
Building Permits by Building Type, 2008-2010 (m2/Annual Total)
140,000,000
120,000,000
100,000,000
80,000,000
60,000,000
40,000,000
Other nonresidential
buildings
Public entertainment, education,
hospital or institutional care buildings
Industrial buildings
and warehouses
Traffic and
communication buildings
Wholesale and retail
trade buildings
Office buildings
Hotels and similar buildings
Residences for
communities
Two and more dwelling
residential buildings
One dwelling
residential buildings
20,000,000
2010
2009
2008
tepe inşaat
2010 ANNUAL REPORT
bilkent holding
8
The accomplishments of Bilkent as a brand are a direct
result of the pursuit of excellence - maintained from day one.
Bilkent Holding’s foundations were laid with Dilek İnşaat
(Dilek Construction), established by İhsan Doğramacı in
1968, to operate in the construction industry. This was
followed by the establishment of Tepe Ağaç Metal ve Makina
Sanayi (Tepe Wood Metal and Machinery Industry Co.) and
Meteksan in 1969. Companies were gathered under the
Bilkent Holding umbrella during the restructuring process
undertaken in 1986.
Since its establishment, Bilkent Holding and its subsidiaries
have adopted as their primary objective the creation of
steady, continuous and long-term resources jointly with
partners and other stakeholders. In accordance with this
principle, Bilkent Holding’s priority has been to achieve
quality, customer satisfaction and profitability in all sectors in
which it operates.
Extensively expanding the scope of its business in less than
50 years, the Holding operates in construction, furnitureretail, printing/paper, real estate and services industries
while maintaining a major presence in the airport operation
industry via its subsidiary companies. The Holding leverages
the domestic experience gained in these sectors to expand
overseas, with operations in the Middle East, North Africa,
the Turkic Republics, Eastern Europe and Russia.
Successfully increasing areas of business along with its
geographical reach in a relatively short time, Bilkent Holding
was ranked among Turkey’s 50 largest and fastest growing
conglomerates according to statistics published by reliable
and reputable sources. The Holding’s companies have
maintained leading positions achieved in their respective
sectors.
Tepe İnşaat (Tepe Construction), Bilkent Holding’s flagship
company in the construction industry, develops projects
in diverse segments of the construction industry with
projects in Turkey as well as abroad while continuing to
introduce innovations to the sector without deviating from its
commitment to quality.
Bilkent Holding carried the trust and brand image with
the Tepe brand to the furniture and retail industries as
well. Both Tepe Mobilya (Tepe Furniture), which produces
custom designs tailored to customer demands to create
high-level customer satisfaction and Tepe Home, which is
primarily responsible for the marketing and sales operations
of Tepe Mobilya products brought the megastore furniture
retailing concept to Turkey and maintains its leadership in its
respective sectors.
Meteksan Matbaa (Meteksan Printing), operating in the
printing-paper sector, has established itself as a brand in
this industry thanks to its product diversity and an annual
production capacity of nearly 100,000 tons.
Tepe Emlak (Tepe Real Estate) has undertaken seven
shopping center projects in Turkey and assumed the
operation of the Ankara Bilkent Center as well as the
Istanbul Tepe Nautilus shopping mall. It continues to create
spaces that make the lives of individuals easier thanks to the
experience it has gained since the shopping center sector
first gained momentum.
Another important company within Bilkent Holding is Tepe
Savunma (Tepe Defense), which provides defense and
security services to Turkey’s leading companies.
Bilintur, involved with hotel administration and catering where
high quality and service excellence in the services industry
are a deciding factor, is also among companies raising the
bar for the Holding’s success.
Tepe Betopan is Turkey’s largest cement board manufacturer
as well as the third largest cement-bonded particleboard
producer in the world; its exterior siding products are
exported around the globe.
In accordance with the Holding’s corporate values and
principles, Bilkent Holding gives operational and executive
independence to companies operating under its umbrella. As
a result, these companies grow in line with their respective
sectors’ requirements, adding further strength to the Holding
with the subsidiaries and partnerships they establish. The
success of this strategy is validated by TAV Havalimanları
tepe inşaat
2010 ANNUAL REPORT
9
bilkent holding
tepe inşaat
2010 ANNUAL REPORT
bilkent holding
10
Holding (TAV Airports Holding) and TAV Yatırım Holding
(TAV Investment Holding), joint ventures of Bilkent Holding
and Akfen Holding.
Bilkent’s accomplishments as a brand are the result of the
pursuit of excellence it has maintained since day one. With
the objective of ‘always doing the best job’ at every stage of
its corporate and operational structure, the Holding became
a pioneering institution referred to as competitive, open
to development and innovation, reliable, environmentally
responsible, professional and dynamic. The most important
element of the Holding’s ongoing pursuit of excellence is
its competent human resources, possessing a sense of
corporate loyalty and formed with the ‘right person for the
right job’ approach.
Successfully achieving the financial and operational targets
that it set for itself in 2010 as part of a five-year strategic
plan, Bilkent Holding will continue to increase its operations
and investments in industries where it has a competitive
advantage and where it “does the best job.” The Holding
believes in the importance of achieving sustainable growth
to establish a solid standing in the business world in addition
to successful annual performance. It will continue to pioneer
the sectors where it has assumed leadership. In addition,
Bilkent Holding’s future plans also include venturing into new
sectors that are compatible with the Holding’s principles and
long-term strategic targets. In accordance with this goal,
the Holding will evaluate public-private partnership projects,
privatizations, overseas investment opportunities and
technology investment projects.
With the reliable image that it created for the Bilkent brand,
its leading position in many sectors, a sound financial
structure and its respect for the legal regulations and moral
values, Bilkent Holding will continue to grow, carrying with it
the experience gained from its 40-year history into the future.
Bilkent Holding Subsidiaries and Affiliates
Company Name
Bilan Bilkent Ankara Tepe Otel İşletmeciliği A.Ş.
Bilbak A.Ş.
Bildes A.Ş.
Bilen A.Ş.
Bilenerji A.Ş.
Bilintur A.Ş.
Bilsigorta A.Ş.
Dilek İnşaat A.Ş.
Meteksan Matbaacılık ve Tek. San. Tic. A.Ş.
Meteksan Matbaacılık ve Tek. San. Tic. A.Ş.
Meteksan Sualtı Akustik Sist. Tek. A.Ş.
Optisis İletişim ve Bilgi Teknolojileri A.Ş.
Sports Internatonal Bilkent Fitness ve Spor Merkezleri A.Ş.
Tepe Betopan A.Ş.
Tepe Emlak A.Ş.
Tepe Home A.Ş.
Tepe Home A.Ş.
Tepe İnşaat A.Ş.
Tepe İnşaat A.Ş.
Tepe Mobilya A.Ş.
Tepe Prefabrik İnş. San. Tic. A.Ş.
Tepe Savunma A.Ş.
Tepe Servis ve Yönetim A.Ş.
Turkofon A.Ş.
Total Capital (TL)
5,500,000
50,000
50,000
50,000
30,550,000
40,000,000
150,000
22,000,000
62,526,000
62,526,000
500,000
300,000
26,000,000
20,000,000
180,000,000
61,000,000
61,000,000
625,000,000
625,000,000
50,000,000
6,000,000
17,000,000
2,000,000
50,000
Bilkent Holding’s
Share Capital (TL)
415,556
25,520
25,520
49,406
639,772
7,000,000
149,559
19,000,000
56,415,425
1
5,000
3,000
690
502,000
41,462,611
12,227,549
1
536,651,576
1
2,337,964
2
2
1,039,919
25,587
Bilkent Holding’s
Ownership Share (%)
7.56
51.04
51.04
98.81
4.57
10.91
99.71
86.36
90.23
0.00
1.00
1.00
0.01
2.51
23.03
20.05
0.00
85.86
0.00
3.27
0.00
0.00
52.00
51.17
tepe inşaat
2010 ANNUAL REPORT
TEPE İNŞAAT
11
Today Tepe İnşaat holds a privileged market position in an extensive
and diverse area of products and services, from project drafting and
construction to landscaping and decoration.
Tepe İnşaat Sanayi A.Ş., the flagship company of Bilkent
Holding, is a pioneering and innovative company within the
Turkish construction industry with sound financial structure,
deep-seated experience and its highly respected corporate
identity.
establishment. Having completed construction projects
worth more than US$ 5 billion over its 41-year history, Tepe
İnşaat also successfully administers investment projects
that combine real estate development projects and various
marketing activities in an integrated structure.
Tepe İnşaat commenced operation as part of the Tepe
Group, which was established by the Hacettepe University
Foundation in Ankara in 1969. Following the completion of
the Group’s restructuring process in 1987, Tepe İnşaat began
its activities under the corporate umbrella of Bilkent Holding,
which is owned by Bilkent University.
Having faith in the capability of its employees at every stage,
creating “the best” environment for teamwork and providing
various training opportunities is an integral lynchpin in
Tepe İnşaat’s operation. This success story, has for many
years, reveals the fact that personal development has an
undisputable impact on corporate development.
Tepe İnşaat has taken part in an extensive and diverse array
of projects since 1969, from project drafting and construction
to landscaping and decoration. Advancing a step forward
in each and every one of the past 41 years, the Company
reached the vast know-how and experience that it possesses
today. Providing service at international standards from
project drafting to delivery, Tepe İnşaat has also succeeded
in creating an exclusive and significant brand value on the
international stage with the projects it undertook in Turkey
and abroad. Having established a presence in an extensive
geographical area from Central Europe to Asia, North Africa
to the Middle East, Tepe İnşaat believes it is a national duty
and responsibility to expand its experience and know-how
beyond Turkey’s borders.
In an effort to return the value created by its “quality first”
service approach to society and education, Tepe İnşaat
always aims for the best and operates to further develop and
strengthen Bilkent University, Turkey’s first private university
ranked among the country’s most distinguished educational
institutions. Acting with an awareness of social responsibility,
the Company offers many young people educational
opportunities and encourages new generations to safeguard
and uphold national values.
Tepe İnşaat has a presence in every facet of life with the
housing, shopping center, airport, hospital, educational
building, industrial complex and infrastructure projects
totaling 13 million square meters undertaken since its
With superior expertise and deep-rooted experience
in various segments of the construction industry, Tepe
İnşaat maintains its service approach geared to constantly
improving life; it adds new values to its corporate know-how
with each completed project. Tepe İnşaat accepts each new
company or person it serves with the goal of achieving the
utmost level of customer satisfaction - an integral part of this
value chain it has created. The Company is moving forward
with confidence toward achieving its objectives for the future.
tepe inşaat
2010 ANNUAL REPORT
OPERATIONS
MAP
12
UKRAINE
MACADONIA
ALBANIA
TURKEY
TUNUSIA
LIBYA
EGYPT
tepe inşaat
2010 ANNUAL REPORT
OPERATIONS
MAP
13
RUSSIA
KAZAKHSTAN
GEORGIA
AZERBAIJAN
AFGHANISTAN
IRAQ
SAUDI ARABIA
QATAR
(UAE)
OMAN
tepe inşaat
2010 ANNUAL REPORT
FINANCIAL
HIGHLIGHTS
14
Even after 41 years leading the construction sector,
Tepe İnşaat continues to pursue “the best.”
Balance Sheet Figures (TL thousands)
A-Current Assets
B-Fixed Assets
Total Assets
A-Short-term Liabilities
B-Long-term Liabilities
C-Shareholders’ Equity
Total Liabilities
2009
536,543
868,858
1,405,400
214,831
452,179
738,391
1,405,400
%
38.18
61.82
100.00
15.29
32.17
52.53
100.00
2010
591,751
995,367
1,587,118
230,325
577,543
779,250
1,587,118
%
37.28
62.72
100.00
14.51
36.39
49.10
100.00
Income Statement Figures (TL thousands)
Gross Sales
Sales Discounts (-)
Net Sales
Cost of Sales
Gross Profit (Loss) from Sales
Operating Expenses
Operating Profit (Loss)
Ordinary Revenue and Income from Other Operations
Ordinary Expense and Loss from Other Operations
Financial Expense
Ordinary Profit (Loss)
Extraordinary Revenue and Income
Extraordinary Expenses and Losses
Profit (Loss) for the Period
2009
145,091
(25)
145,065
113,115
31,951
(4,301)
27,650
65,909
(57,204)
(64,893)
(28,539)
15,229
(34,948)
(48,258)
2010
270,769
(17)
270,752
222,464
48,288
(5,139)
43,149
68,856
(62,758)
(27,625)
21,621
7,365
(61,796)
(32,809)
tepe inşaat
2010 ANNUAL REPORT
FINANCIAL
HIGHLIGHTS
15
Total Assets (TL thousands)
1,587,118
2010
1,405,400
2009
Shareholders’ Equity (TL thousands)
779,250
2010
738,391
2009
Net Sales (TL thousands)
270,752
2010
2009
145,065
Operating Profit (Loss) (TL thousands)
43,149
2010
2009
27,650
Extraordinary Revenue and Income (TL thousands)
2010
2009
7,365
15,229
tepe inşaat
2010 ANNUAL REPORT
FINANCIAL
HIGHLIGHTS
16
With its large-scale housing projects, Tepe İnşaat is one of the most
powerful and most influential architect FOR urban transformation.
it plays an important role in Turkey’s development as a result of numerous
projects such as hospitals, airports, terminals, pipelines, power plants,
plants, industrial strucuture, business and shopping centers.
Financial Ratios
Liquidity Ratios
Current Ratio
Acid-Test Ratio
Cash Ratio
Operational Ratios
Receivables Turnover Rate
Receivables Collection Period
Current Assets Turnover Rate
Net Working Capital (TL)
Net Working Capital Turnover Rate
Tangible Assets Turnover Rate
Total Assets Turnover Rate
Shareholders’ Equity Turnover Rate
Financial Leverage Ratios
Financial Leverage Ratio
Financing Ratio
Ratio of Shareholders’ Equity to Total Assets
Ratio of Short-term Debts to Total Liabilities
Ratio of Short-term Debts to Total Debts
Ratio of Long-term Debts to Total Liabilities
Ratio Analysis in Accordance with the
Public Procurement Law
Current Ratio
Ratio of Shareholders’ Equity to Total Assets
Ratio of Short-term Financial Liabilities to
Total Shareholders’ Equity
2009
2010
2.50
2.44
0.41
2.57
2.47
0.42
1.27
287.79
0.27
321,712,086
0.45
2.03
0.10
0.20
3.66
99.64
0.46
361,425,886.95
0.75
1.64
0.17
0.35
0.47
1.11
0.53
0.15
0.32
0.32
0.51
0.96
0.49
0.15
0.29
0.36
3.69
0.72
0
2.30
0.65
0.01
tepe inşaat
2010 ANNUAL REPORT
FINANCIAL
HIGHLIGHTS
17
Current Ratio
2.57
2010
2.50
2009
Acid-Test Ratio
2.47
2010
2.44
2009
Cash Ratio
2010
0.42
2009
0.41
Financing Ratio
0.96
2010
1.11
2009
Total Assets Turnover Rate
0.17
2010
2009
0.10
tepe inşaat
2010 ANNUAL REPORT
MANAGEMENT’S
MESSAGE
18
During this period where we are facing many risks from the general economic
environment that have nothing to do with our sector, Tepe İnşaat’s Management is
fully cognizant of its responsibilities in managing financial and operational risk
present in this challenging period.
for Ankara’s office and luxury residence market. We are
encouraged about undertaking similar prestigious projects by
the interest shown in Tepe Prime and the fact that feedback
from the marketing teams are much better than our project
performance expectations. As Tepe İnşaat, we see this
project as a residential and lifestyle center specific to Ankara
where we combine our know-how in real estate management
with retail store and restaurant chains featuring unique
concepts.
In line with our steady growth, we are successfully carrying
on with domestic and overseas contracting projects. In
Turkey, the prestigious Taurus Office-Shopping Center and
Mersin Carrefour Shopping Center projects currently under
construction on the Konya highway axis are part of this
drive. Internationally, the Sulaimaniya University Campus
project on a total area of two million square meters and the
USA Embassy interim facility project in Afghanistan whose
scope expanded with additional tasks during the process are
moving forward within the scheduled timeline.
Tepe İnşaat is a subsidiary of Bilkent Holding A.Ş. that is in
turn owned by Bilkent University, the first private university in
Turkey conforming to international standards. It introduced
many firsts to Turkey via the country’s first private sector
airport operator TAV, Turkey’s first private sector operator
in sea transportation İDO (TASS) and many companies
that manufacture inputs and associated products for the
construction industry. It has been working on construction
contracting projects and the investment projects segment in
Turkey as well as abroad for 41 years.
2010, a year where we embraced change, turned out to be
successful for Tepe İnşaat. We have profitably completed
both the construction and sales of our 1,306-unit Istanbul
Narcity project and have reached the construction and
sales stage of the Narkule project. Design work for our
new housing project, which we are developing right next to
Narcity as an investment project, is continuing at a frantic
pace. We plan to start the construction of this 550-unit
distinguished housing project that will complement Narcity
and Narkule by year-end 2011.
We are rapidly approaching the end of the Tepe Prime
Business-Residence-Avenue project - a major milestone
In 2011, we plan to increase the number of countries in
which we conduct business in accordance with “Permanent
Settlement in the Target Country” that we adopted as part
of our International Business Development Management.
Accordingly, we are closely monitoring the newly developing
markets in our related sectors with a sharp focus on global
economic developments.
We believe that turning points for companies are the
strategies and visions set forth by managements more so
than the projects that are developed. In this regard, we will
continue to conduct our operations with strict adherence to
transparent, principled and rational vision and management
strategies that were formed in accordance with ethical
values in the period ahead. We envisage that Tepe İnşaat’s
“permanent” and “reliable” position in its industry will be
elevated to even greater heights in the future thanks to this
attitude.
In tune with our goal to be a global corporation, we have
come a long way toward raising our information and
communication infrastructure to the global sector level.
tepe inşaat
2010 ANNUAL REPORT
MANAGEMENT’S
MESSAGE
19
As part of this process that we also refer to as the journey
to transformation as a global player in the sectors in
which we operate, we are focused on strengthening our
infrastructure through efforts in sector-wide standardization
and systemization as well as enhancing our organizational
infrastructure and business culture by undertaking unique
and diverse ventures and projects jointly with distinguished
and deep-rooted customers in various geographic regions.
As a distinguished company in the construction industry, one
of the most important driving forces of the Turkish economy,
Tepe İnşaat will continue to undertake its operations in the
Abdullah Bahadır GÜNGENCİ
Executive Member of the
Board of Directors
period ahead unwaveringly with the overarching objective
of “being an ongoing concern and being reliable” in
accordance with its mission and vision to create value for
the Turkish economy by engaging in production and creating
employment, being the trailblazer in diverse business lines
and on the a global scale, establishing a presence in various
geographies, and above all, making a contribution to the
Turkish education system by creating resources for its
ultimate shareholder Bilkent University.
We see a beautiful future for our country and our people,
who are deserving of the best of everything...
Ali Haydar KURTDARCAN
Chairman of the
Board of Directors
Atila Kemal OĞUZ
General Manager
tepe inşaat
2010 ANNUAL REPORT
Board of
DIrectors and
Board of AudItors*
20
Board of Directors
Ali Haydar Kurtdarcan
Chairman
Abdullah Bahadır Güngenci
Executive Director
Vahit Uğurlu*
Member
Önder Sezgi
Member
İlhan İl
Member
Board of Auditors
Alaaddin Tabur
Gürkan Özaslan
Members of the Board of Directors and Board of Auditors
of Tepe İnşaat Sanayi A.Ş., as determined at the Ordinary
General Assembly dated April, 2011.
* Board Member, Vahit Uğurlu died at August 7, 2011.
tepe inşaat
2010 ANNUAL REPORT
senIor
management
21
Abdullah Bahadır Güngenci
Executive Member of the Board of Directors
Abdullah Bahadır Güngenci was born in Ankara in 1951 and
graduated from Middle East Technical University, Department
of Civil Engineering in 1976. He worked on the Iraq-Turkey
Crude Oil Pipeline Project from 1976 to 1977 and later took
part in the construction of the Petkim Aliağa Facilities Water
Treatment and Demineralization Units between 1979 and
1980. From 1980 until 1986, Güngenci was employed in
Bahrain’s AISCO Iron Enrichment Plant Project, in marine
dredging and in the construction of the pier and the plant.
His career continued at Günkay İnşaat in Turkey until he
joined Tepe İnşaat Sanayi A.Ş. in 1994 as Group Coordinator
for Hospital Projects. In the following years, he served as
Assistant General Manager in charge of Domestic Projects
and later of Infrastructure Projects. Güngenci was appointed
as an executive member of the Board of Directors on April
14, 2010. He also serves on the Boards of Directors of TAV
Yatırım Holding A.Ş., TAV Tepe Akfen Yatırım İnş. ve İşl. A.Ş.,
TAV Havacılık A.Ş., TAV İstanbul Terminal İşletmeciliği A.Ş.,
TAV Esenboğa Yatırım Yapım ve İşletme A.Ş., Dilek İnşaat
ve Tic. A.Ş., and Antepe Sağlık ve Turizm Hizmetleri Tic.
Danışmanlık A.Ş.
Atila Kemal Oğuz
General Manager
Born in Kayseri in 1963, Atila Kemal Oğuz graduated from
Yıldız Technical University, Department of Civil Engineering
in 1989 and began his professional career at Ran İnşaat.
Subsequently, he served as field engineer at ARGE GIM &
Tepe İnşaat Partnership and Tepe Yapı San. A.Ş., Project
Manager at Zafer İnşaat A.Ş., Director at Normapetus
International and as General Manager at Innova İnş. ve Müt.
and Eser Taah. ve San. A.Ş. Oğuz joined Tepe İnşaat Sanayi
A.Ş. as the General Manager in 2010.
Mustafa Kalender
Assistant General Manager, Finance and
Administrative Affairs
Born in Mengen, Bolu in 1964, Mustafa Kalender graduated
from Anadolu University, Department of Business
Administration in 1987. He began his professional career at
Tekgüç İnşaat and joined Tepe İnşaat in 1988 as Finance
Supervisor; he later was appointed Head of Finance and
Finance Manager and is currently Assistant General Manager
in charge of Finance. Kalender also served as a member
on Tepe İnşaat’s Board of Directors from 2005 until 2010
and currently serves on the Board at TAV İşletme Hizmetleri
A.Ş., TAV Gazipaşa Yatırım, Yapım ve İşletme A.Ş., TAV Özel
Güvenlik Hizmetleri A.Ş., TAV Bilişim Hizmetleri A.Ş., TAV
Latvia Sia, Dilek İnşaat ve Tic. A.Ş., and Antepe Sağlık ve
Turizm Hizmetleri Tic. Danışmanlık A.Ş.
Ali Karaca
Assistant General Manager, Domestic Projects
Born in Kahramanmaraş in 1964, Ali Karaca graduated from
Akdeniz University, Isparta Faculty of Engineering in 1988.
Until 1992, he was employed by Kür İnşaat Sanayi A.Ş. and
Nazmi Kürüm İnşaat A.Ş., respectively and joined Tepe İnşaat
Sanayi A.Ş. in 1992. From 1992 to 2004, Karaca worked as
Field Engineer, Construction Supervisor and Project Manager.
From 2004 to 2009, he served as Domestic Projects
Coordinator and was appointed Assistant General Manager
of Domestic Projects at the end of 2009.
tepe inşaat
2010 ANNUAL REPORT
MIlestones
22
TEPE İNŞAAT, THE FLAGSHIP COMPANY OF BILKENT HOLDİNG, IS THE
LEADER OF THE CONSTRUCTION INDUSTRY THANKS TO ITS SOUND
FINANCIAL STRUCTURE AND RESPECTED CORPORATE IDENTITY.
Tepe İnşaat in Figures
Airports
Commercial and Industrial Buildings
Houses
Shopping Centers
Hospitals
Infrastructure Projects
Prefabricated Buildings
Education Buildings
Military Projects
Total
Grand Total
Completed Projects (US$)
1. Housing
2. Hospital
3. Terminal
4. Commercial Buildings / Office Buildings
5. Shopping Center
6. Education Building
7. Touristic Building
8. Renovation
9. Sports Facilities
10. Prefabricated Housing / Shelter
11. Container
12. Infrastructure
13. Industrial
14. Transport
Total Sum of Completed Projects
Note: not have been subjected to escalation
Completed Projects
Construction Area (m²)
Ongoing Projects
Construction Area (m²)
3,651,296
1,735,628
2,388,644
1,152,903
965,946
696,244
248,249
608,047
11,446,957
12,708,328
109,400
404,500
57,000
223,200
398,884
68,387
1,261,371
-
798,503,028
392,163,163
1,425,336,863
462,950,740
374,489,317
140,376,538
47,726,174
120,024,274
24,188,812
179,367,946
9,375,661
411,232,365
93,933,819
79,003,335
4,558,672,034
tepe inşaat
2010 ANNUAL REPORT
MIlestones
23
1980s
1990s
Turkey’s first foundation-owned, private university, Bilkent
University was founded in October 1984 by the İhsan
Doğramacı Foundation. It began its academic activity in 1986
with 386 students. The University today has nine faculties,
two undergraduate colleges, three vocational schools and six
institutes that provide education to 12,000 students. Bilkent
graduates are among Turkey’s most select human resource.
1982 Bilkent Campus University lies within the boundaries
of Bilkent, a city created over the course of fifteen years on
the plains of Ankara.Located on 612 hectares, Bilkent is a
“city of science” and its campus, dormitories, business and
shopping centers, sports complex, concert halls, hotel and
movie theaters, dam, power plant, wooded areas, symphony
orchestra and excellent infrastructure are able to cater to every
need.
1999 Atatürk Airport (Build-Operate-Transfer) The
İstanbul Atatürk Airport International Terminal was built by a
joint venture between the Tepe and Akfen Groups (TAV) and
started operating in two years. A company specialized in airport
construction, operation and financing, TAV today is a leader in
Turkey and became dominant player in the Middle East, North
Africa and the Caucasus. The Atatürk Airport New International
Terminal Project was completed at a cost of US$ 397 million
and commenced operations on December 22, 1999. With an
additional facility launched in 2004, the annual capacity of the
terminal increased from 14 million to 20 million passengers.
In July 2005, TAV also assumed operations at Atatürk Airport
Domestic Terminal. Covering an area of 62,500 square meters,
the Domestic Terminal has been modernized to accommodate
an average of 7.5 million passengers a year. The Development
and Expansion Project that entered its final phase in 2010
yielded a total additional covered space of 18,770 square
meters at the Domestic Terminal.
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2010 ANNUAL REPORT
24
MIlestones
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2010 ANNUAL REPORT
MIlestones
25
2000s
2000 Turkish Armed Forces Rehabilitation Center
Built on a total area of 102,500 square meters and with a
400-bed capacity, this facility was established to provide
rehabilitation and relaxation to army veterans. Built at a cost
of US$ 132 million, the actualization of this facility was the
outcome of an architectural contest.
İş Bankası Headquarters Complex Turkey’s first smart
building, the complex is one of the most majestic high-rises
in Istanbul, located in the heart of industry, commerce and
culture. Built at a cost of US$ 190 million, the complex has
been equipped with the 21st century’s latest technology and
is an important example of smart buildings, not only in Turkey
but in Europe and the Middle East as well. With two towers
- 52 and 36 stories respectively - İş Bankası Headquarters
Complex is the highest skyscraper between Dubai and
Frankfurt.
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2010 ANNUAL REPORT
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MIlestones
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MIlestones
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2001 Beykoz Mansions Built on an area of 100 hectares
in the Saip Molla Pasha Woods in Beykoz, Istanbul, Beykoz
Villas are one of Tepe İnşaat’s most prestigious projects and
offers 401 mansions in perfect harmony with their natural
surrounding. The whole atmosphere reflects the beautiful
attributes of a truly unique life style. The historical Hunting
Lodge, renovated true to its original form, serves residents
with a library, billiards, game and event lounges, a spacious
garden designed for large receptions and a kitchen. With a
project cost of US$ 90 million, Beykoz Villas are an attractive
destination for an exclusive lifestyle in Istanbul.
Tepe Nautilus Shopping Center Nautilus, or lighthouse,
was inspired by the seaside around Kadıköy, on the Anatolian
side of Istanbul, one of the world’s most beautiful coastal
cities. With a market value of € 150 million, Nautilus is the
largest shopping center on Istanbul’s Anatolian side. With its
bright design, Nautilus offers visitors a comfortable shopping
environment.
2002 Kemer Rose Residence: Consisting of 70 blocks
built on a land plot of 35,000 square meters in Kemerburgaz,
its landscaping features rose gardens with unrivalled beauty.
Offering a peaceful lifestyle in perfect harmony with the
nature, Kemer Rose Residence also provides a wide range of
amenities in its sports facilities.
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2010 ANNUAL REPORT
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MIlestones
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2010 ANNUAL REPORT
MIlestones
29
2004 The Eczacıbaşı Kanyon Project The Eczacıbaşı
Kanyon Project is a stunningly modern open-air shopping
center built by Tepe İnşaat in Istanbul. Kanyon hosts 160
shops, a gourmet supermarket, a street market, movie
theaters, restaurants, cafeterias, bars, a sports and health
center, indoor and outdoor swimming pools and open-air
performance venues, residences and office buildings and
shopping and amusement centers. Kanyon was built via a
partnership between Eczacıbaşı and İş Real Estate on an
area of 250,000 square meters in compliance with national
and international earthquake regulations. The cost of the
project was US$ 41 million.
2005 Baku-Tbilisi-Ceyhan Crude Oil Pipeline Tepe
İnşaat took part in the building of the pipeline’s 277-kilometer
Posof-Erzurum section and the pump stations project along
the pipeline.
• İmranlı-Kayseri Natural Gas Pipeline
• Kütahya-Bilecik-Uşak Natural Gas Pipeline
2006 Narcity Housing Project Built on approximately
147,000 square meters in Maltepe, Istanbul, the Narcity
complex is landscaped primarily with pomegranate trees,
reflecting the Turkish name for pomegranate (nar). This
complex consists of 1,283 apartments built in compliance
with the latest earthquake regulations and state-of-the-art
soundproofing, heat and water insulation systems. With
its high-quality materials and workmanship, as well as
its extensive social facilities and secure systems, Narcity
Istanbul is one of Istanbul’s favorite residential destinations.
The US$ 200 million project was launched in January 2006.
Esenboğa Airport Ankara finally has an airport that is
truly worthy of its location in Turkey’s capital city. Esenboğa
Airport was built at a cost of € 188 million and has an annual
passenger capacity of 10 million. It is the only airport in
Turkey to combine both domestic and international terminals
under one roof. Completed one year ahead of schedule,
it has became the modern face of Turkey’s capital.
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2010 ANNUAL REPORT
30
MIlestones
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2010 ANNUAL REPORT
MIlestones
31
2007 Bilkent Garden Homes At an investment value of
US$ 52 million, this project consists of 124 twin-villas built on
a 123,000 square meters. Set amid superb natural beauty,
twin villas, 500 square meters each, are equipped with stateof-the-art technology. With two playgrounds for children,
an observation deck, jogging tracks, swimming pool, game
room, fitness center with sauna, cafeteria, tennis, basketball
and volleyball courts, Bilkent Garden Homes have been
designed to cater to its residents’ every social need. Offering
an urban location while at the same time far from the hustle
and bustle of the city and combining the beauty of nature
with the amenities of the contemporary life, Bilkent Garden
Homes has been met with great interest. The project was
launched at the end of 2005 and completed at the end of
2007. All units were sold before the construction was actually
completed.
2008 Hacettepe University Hospitals Morphology
Building and Seventh & Eighth Building Retrofits
Completed in December 2008 at a cost of TL 71 million,
this project has a total construction area of 28,500 square
meters. As part of this project, among the most important
undertakings by Tepe İnşaat for Hacettepe University,
Seventh & Eighth Buildings and the Morphology Buildings
were reinforced against earthquakes. The modifications in
the Internal Medicine, Urology, Neurology, General Surgery,
Brain Surgery and Gastrology departments, located in the
Seventh Building, were completed. In addition, Biochemistry,
Microbiology, emergency laboratories, Endocrinology,
Geriatrics, Nephrology, Infection, Rheumatology, Hematology,
Gastrology, Coronary Intensive Care departments and
inpatient floor retrofits were also undertaken. The project was
completed and delivered as of December 2008.
tepe inşaat
2010 ANNUAL REPORT
MIlestones
32
2009 Tepe Prime Project The project is comprised of Tepe
Prime Business, Tepe Prime Residence and Tepe Prime
Avenue and has an indoor area of 92,800 square meters.
Its objective is to provide utter comfort to its dwellers and
guests; it is predicted to be finished by 2011.
2010 Narkule: Built in Maltepe, Istanbul on a plot of land
neighboring Narcity, the Narkule project was designed as
a boutique project that will make its residents enjoy the
pleasure of living in highrise buildings thanks to its modern
architecture. Utilizing the slogan “Some Like It High,” Narkule
combines its contemporary architecture with a youthful,
dynamic, dignified and colorful style along with high-quality
living standards with breathtaking scenery. Almost all of
the108 residential units in the 27-storey Narkule project, have
a splendid view of the forest, the sea and the islands.
tepe inşaat
2010 ANNUAL REPORT
SubsIdIarIes and
AffIlIates
33
Company
Tepe Emlak Yatırım İnş. ve Tic. A.Ş.
TAV Havalimanları Holding A.Ş.
TAV Yatırım Holding A.Ş.
Tepe Mobilya San. A.Ş.
Tepe Home Mobilya ve Dek. Ürn. A.Ş.
Ati Servicess Sa
Tepe Betopan A.Ş.
Sports International A.Ş.
Tepe Savunma ve Güv. Sist. A.Ş.
Bilintur A.Ş.
Meteksan Matbacılık A.Ş.
Bil Enerji A.Ş.
Tepe Prefabrik İnşaat Sanayi ve Ticaret A.Ş.
Antepe Sağlık ve Turz. Hizm. Tic. Danş. A.Ş.
Dilek İnşaat A.Ş.
Bilan Bilkent Ankara Tepe Otel İşletmeciliği A.Ş.
C.B. Spolka Zograniczona Odpowiedzia
Ankara Teknoloji A.Ş.
Tepe Servis ve Yönetim A.Ş.
Artı Döviz A.Ş.
Meteksan Savunma A.Ş.
Batı Karadeniz Elektrik Dağıtım A.Ş.
Park Villa İnşaat ve Turizm A.Ş.
Tepe İnşaat ve Ticaret (Kıbrıs) Limited
Hyper Foreign Trade Holland N.V.
Tepe Grubu United Kingdom
Tepe Ukrayna Ltd.
Tepe Stroi
Yenikentler Yatırım A.Ş.
Meteksan Sualtı Akustik Sist.Tekn.A.Ş.
Optisis İletişim ve Bilgi Teknolojileri A.Ş.
Knauf İnşaat ve Yapı Elm. A.Ş.
Bilsigorta A.Ş.
Bildes Bilkent Destek A.Ş.
Bilbak Bilkent Bak. A.Ş.
Esenboğa Ankara Döviz Ticareti A.Ş.
Dafne Ege Döviz Ticareti A.Ş.
Pft Sıva Sistemleri A.Ş.
Riva İnşaat Turizm A.Ş.
TAV Esenboğa Yatırım Yapım ve İşletme A.Ş.
Total Capital (TL)
180,000,000
363,281,250
100,500,000
50,000,000
61,000,000
36,074,062
20,000,000
26,000,000
17,000,000
40,000,000
62,526,000
30,550,000
6,000,000
3,000,000
22,000,000
5,500,000
7,843,277
9,600,000
2,000,000
1,500,000
10,000,000
1,400,000
500,000
145,000
137,019
597,300
61,185
61,185
170,000
500,000
300,000
8,017,000
150,000
50,000
50,000
500,000
500,000
150,000
2,000,000
241,650,000
Share Capital (TL)
128,614,655
94,664,476.50
46,732,500
41,981,343
33,571,300
16,492,950
13,200,000
21,888.15
8,329,963
8,000,000
5,864,454
4,530,042
4,213,329
2,975,500
2,968,610
2,694,723
2,221,970
1,106,032
1,039,919
735,000
607,310
294,000
250,000
144,565
73,394
61,918
61,185
61,185
5,000
5,000
3,000
1,048
200
70
70
25
25
13
10
10
Participation Ratio (%)
71.45
26
47
84
55
46
66
74
49
20
9
15
70
99
13
49
28
11.52
52
49
6
21
50
100
54
10
100
100
3
1
1
0
0
0
0
0
0
0
1
0
tepe inşaat
2010 ANNUAL REPORT
2010 YILI
OPERATIONS
FAALİYETLERİ
DomestIc
Projects
HospItal
Projects
34
With a social responsibility approach, Tepe İnşaat supports
infrastructure projects that enhance public health.
Construction of Gazi University Hospital’s
Hematology Department
Commencement Date: January 2010
Total Construction Area: 3,200 square meters
Delivery Date: March 2011
Client: Gazi University Rectorate
As part of the construction of the Hematology Department
of Gazi University’s Faculty of Medicine, a service for the
inpatient and outpatient treatment of leukemia patients is
being built. This service will feature infection control, stateof-the-art devices and a total of 57 single rooms, including
18 rooms with HEPA filters, four rooms for intensive care
facilities and 35 normal rooms. It is predicted that the project
will be completed and delivered by March 2011.
Gazi University Hospital Classroom & Laboratory
Retrofit Work
Commencement Date: December 17, 2010
Delivery Date: March 17, 2011
Client: Gazi University Rectorate
The retrofit of the English Language Classrooms and Research
Laboratories of Gazi University’s Faculty of Medicine located in
Emek, Ankara as well as the retrofit of SGK Medula System (the
comprehensive medical access system of the Social Security
Institute of Turkey) Units are planned for completion and delivery
in March 2011.
tepe inşaat
2010 ANNUAL REPORT
2010 YILI
OPERATIONS
FAALİYETLERİ
DomestIc
Projects
HospItal
Projects
35
Fırat University Education and Research Hospital
Commencement Date: April 1, 2009
Delivery Date: December 31, 2014
Client: Fırat University Rectorate
A 600-bed research hospital is being built as part of this
project within Fırat University in Elazığ. According to Article
44 of the State Tender Law No. 2886 four tenders were
organized in 1985, 1993, 1997 and 2002. The construction
of the project is ongoing.
In the first tender, the project area was designated as
108,000 square meters; however, due to additional
requirements, in 1998 the area was revised upwards to
140,000 square meters; 90,000 square meters have been
completed and put into commission, including three-storey
buildings, S1 to S16, the eight-storey building S9, the twelvestorey buildings P1 - P2 - P3 and the ten-storey transition
buildings P2 to O. The O buildings, which cover a total area
of 40,000 square meters and comprise four buildings with
seven floors each, are to be completed by 2014.
tepe inşaat
2010 ANNUAL REPORT
36
2010
OPERATIONS
DomestIc
Projects
HospItal
Projects
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
HospItal
Projects
37
Hacettepe University Hospitals Retrofit and
Large-Scale Renovation Construction
Commencement Date: October 9, 2009
Client: Hacettepe University Directorate of
Strategy Development
This project, one of the most significant projects Tepe İnşaat
undertook for Hacettepe University, was started in 2009.
The project encompasses the construction or renovation of
inpatient floors, meeting halls, polyclinics and the cafeteria,
as well as miscellaneous additional construction work,
establishment of indoor installations and electricity systems,
air conditioning, automation, establishment of common
installations and electricity systems; all to be carried out with
first class material and workmanship.
tepe inşaat
2010 ANNUAL REPORT
2010 YILI
OPERATIONS
FAALİYETLERİ
DomestIc
Projects
ShoppIng Center
Projects
38
The Forum Kayseri Shopping Center project features a hypermarket,
retail stores, movie theaters, restaurants and parks, as well as
indoor and outdoor parking area for 2,000 vehicles.
Forum Kayseri Shopping Center
Commencement Date: December 14, 2009
Contract Value: € 24,600,000
Delivery Date: November 30, 2010
Construction Area: 57,000 square meters
Client: Multi Turkmall Onyediemlak Yat. İnş. Tic. A.Ş.
This project, to be carried out by Tepe İnşaat in Kayseri, is
comprised of a four-storey shopping center with a leasable
area of 65,000 square meters built on an area of 75,500
square meters. The Forum Kayseri Shopping Center project
features a hypermarket, retail stores, movie theaters,
restaurants and parks, as well as indoor and outdoor
parking area for 2,000 vehicles. The project was provisionally
accepted on November 30, 2010. The completion of the
project in full and the opening of the facility are expected to
take place in the third quarter of 2011.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
39
Bilkent University 2011 Projects
Commencement Date: January 1, 2011
Construction Site: Bilkent Campus
Client: Bilkent University Rectorate
DomestIc
Projects
EducatIonal
BuIldIngs
tepe inşaat
2010 ANNUAL REPORT
40
2010
OPERATIONS
DomestIc
Projects
EducatIonal
BuIldIngs
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
EducatIonal
BuIldIngs
41
Bilkent University 2010 Projects
Construction Site: Bilkent Campus
Every year various construction and renovation activities are
undertaken at Bilkent University to meet the rapidly changing
and evolving needs. One such activity, the construction
of İhsan Doğramacı Foundation’s Ankara Private Bilkent
Laboratory Elementary & Middle School and High School’s
New Building Phase 1 (Building A), which was started in
January in 2010, was completed in August 2010. The
structure has 5,550 square meters of construction area and
has the status of Anatolian High School.
Every year, existing university facilities such as faculty
buildings, departments, administrative units, institutes,
vocational schools, laboratories, dormitories etc., scattered
over an area of approximately 4.6 million square meters
are repaired and renovated, thereby preserving the modern
appearance of Bilkent University and constantly improving
the conditions.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
Other
ContractIng
Projects
42
It is planned to complete the construction of multi-purpose indoor fitness
center and an annex building on the Fırat University Campus in Elazığ in 2012.
Fırat University Indoor Fitness Center and
Annex Building Work
Fırat University Campus
Infrastructure Work
Commencement Date: November 24, 2010
Construction Site: Fırat University Campus, Elazığ
Commencement Date: September 27, 2010
Delivery Date: January 8, 2011
Construction Site: Fırat University Campus, Elazığ
Pursuant to this unit price contract, Tepe İnşaat will be
undertaking the construction of a multi-purpose indoor
fitness center and an annex building on the Fırat University
Campus in Elazığ. The project is planned for completion by
yearend 2012.
Tepe İnşaat completed and delivered this project, which
consists of the renovation of Fırat University Campus’
peripheral roads, sidewalks and curbs, landscaping design of
the campus (lecture hall, circular walking trail, artificial creek
and falls, cafeteria) and the creation of athletic fields.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
43
Bilkent Eastern Provinces Erzurum
Campus Fourth Phase Work
Commencement Date: May 3, 2010
Construction Site: Bilkent University
Eastern Provinces Erzurum Campus
This school construction project is a part of Bilkent
University’s social responsibility operations and is part of its
Fourth Phase; the construction of a faculty housing building
was completed in 2010. To date, a total of 25,545 square
meters of construction has been completed as part of
this project, including 8,795 square meters of educational
buildings, 2,016 square meters of multi-purpose rooms,
6,493 square meters of fitness centers, 8,241 square meters
of housing facilities, transformer stations, storehouses and
guardhouses. The first phase was completed by end-2007,
the second phase as of end-2008 and the third phase by
year-end 2009.
2010 YILI FAALİYETLERİ
DomestIc
yurt içi projeler
ProjectsEğitim Binaları
Other
ContractIng
Projects
tepe inşaat
2010 ANNUAL REPORT
44
2010
OPERATIONS
DomestIc
Projects
Other
ContractIng
Projects
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
Other
ContractIng
Projects
45
Bilkent Blis Annex Building
(Phase 1) Construction
Delivery Date: November 15, 2010
Construction Site: Bilkent University Campus, Ankara
The construction of İhsan Doğramacı Foundation’s Ankara
Private Bilkent Laboratory Elementary & Middle School
and High School’s New Building Phase 1 (Building A) was
completed in 2010 and the building went into service.
tepe inşaat
2010 ANNUAL REPORT
46
2010
OPERATIONS
DomestIc
Projects
Other
ContractIng
Projects
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
Other
ContractIng
Projects
47
Private Bilkent Kindergarten Construction
Commencement Date: April 1, 2010
Delivery Date: October 15, 2010
Construction Site: Bilkent University Campus, Ankara
The construction of the Kindergarten Building of the İhsan
Doğramacı Foundation’s Private Bilkent Elementary & Middle
School was completed in 2010.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
48
Taurus Balgat Office Building Construction
Delivery Date: May 12, 2013
Construction Site: Balgat, Ankara
Client: Taurus Balgat Alışveriş Merkezi Yatırım A.Ş.
In 2010, Tepe İnşaat began the construction work for
Building A that is a part of the Taurus Balgat Shopping
Center Project. The tasks to be completed at the
construction site include the foundation excavation, including
shell & core construction work encompassing 16,600 cubic
meters of reinforced concrete as well as interior construction
work to be undertaken on a cost plus profit basis.
DomestIc
Projects
Other
ContractIng
Projects
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
Iraq
Projects
49
Expanding its area of operation with international projects, Tepe İnşaat
takes full advantage of the business opportunities that present
themselves in its immediate region while at the same time contributing
to the development of the region.
Construction of İhsan Doğramacı
Erbil Foundation Schools
Contract Date: July 15, 2008
Delivery Date: August 31, 2011
Client: İhsan Doğramacı Erbil Foundation
Undertaken as an investment project in Erbil, Northern Iraq,
İhsan Doğramaci Erbil Foundation Schools will be built on
a total area of 75,000 square meters. This comprehensive
educational complex will consist of an elementary school,
a junior and senior high school, a performance hall with a
seating capacity for 700, indoor and outdoor sports fields,
a library, laboratories, art and music classrooms, a cafeteria
and lounge building, an administration building and housing
units. The total indoor area will be 30,332 square meters.
The project’s construction area has expanded to a total
of 36,592 square meters, with the addition of an indoor
swimming pool, a kindergarten and three villas to the
existing plan. The shell & core construction work has been
completed; the primary school, cafeteria, performance hall,
administrative building, laboratories, library buildings and two
housing units in the first phase that have priority were also
completed in 2010.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
Other
ContractIng
Projects
50
Sulaimaniya University
Contract Date: January 17, 2005
Client: Republic of Iraq, Ministry of Higher Education
and Scientific Research
The new campus construction project for the Sulaimaniya
University in Sulaimaniya, Northern Iraq is a partnership with
Tepe İnşaat holding 75% and FDC 25%. Together with an
additional contract, the Sulaimaniya University New Campus
project will extend over an area of 2 million square meters.
Planned to be completed by the end of 2012, the university
will have a capacity for 25,000 students.
The project includes the construction of faculty buildings,
multi-purpose indoor and outdoor sports facilities, swimming
pools, a health center, dormitories for girls and boys, an
outdoor amphitheater, a cafeteria and social facilities.
The campus will have a very modern appearance with
complimenting infrastructure and landscaping; it consists of
53 different buildings and facilities. There is ongoing work
in 20 different buildings as well as on the infrastructure and
landscaping; by the end of 2010, 60% of the project had
been completed.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
DomestIc
Projects
Afghanistan
Projects
51
The joint venture formed by the USA-based ECC, Tepe İnşaat and Metag İnşaat
has completed the construction of temporary prefabricated buildings for
the American Embassy in Kabul as of year-end 2010; the construction of the
permanent buildings is ongoing.
American Embassy in Kabul Building and Facilities
Delivery Date: May 12, 2013
Total Construction Area: 68,387 square meters (22,702
square meters of Temporary Prefabricated + 45,685
square meters of Permanent Building)
Client: US Dept. of State Bureau of Overseas Buildings
Operations (OBO)
Tepe İnşaat is going to undertake a project for the US Dept
of State Bureau of Overseas Buildings Operations (OBO) in
accordance with design & build principles, inside the present
premises of the American Embassy in Kabul, Afghanistan
and on an additional plot to be added to the complex. The
project involves the construction of annex buildings/facilities
and the renovation and amelioration of relevant landscaping/
infrastructure.
The joint venture formed by the USA-based ECC, Tepe
İnşaat and Metag İnşaat has completed the construction of
temporary prefabricated buildings of the American Embassy
in Kabul as of year-end 2010; the construction of the
permanent buildings is ongoing.
tepe inşaat
2010 ANNUAL REPORT
52
2010 YILI
OPERATIONS
FAALİYETLERİ
Investment
Projects
tepe inşaat
2010 ANNUAL REPORT
2010 YILI
OPERATIONS
FAALİYETLERİ
Investment
Projects
53
Narcity Housing Project
Commencement Date: January 2006
Delivery Date: Plots C, D and E opened for residential
occupancy in 2007; plots F and G in mid-2008; Plot A at
year-end 2010.
Narcity is a contemporary residential area with 1,306
apartments and constructed on approximately 135,000
square meters of land in Maltepe, Istanbul. It is built in
accordance with the latest earthquake regulations and
provides a comfortable, secure place to live.
The complex offers a view of the sea and a wooded area
featuring many lovely pomegranate trees in its landscaping.
With an extensive selection of social facilities to meet today’s
city dwellers every need, Narcity features one indoor and
three outdoor swimming pools, a fitness room with sauna,
two tennis courts, jogging/dog walking paths, a basketball
court, billiards and table tennis, a café, a TV and cinema
lounge, a tea garden, a meditation garden, children’s
nurseries and playgrounds. The complex is also equipped
with a camera surveillance security system.
Consisting of a variety of apartment designs and sizes, the
complex features PVC exterior siding, doors and windows
and in buildings where insulation is crucial, insulating glass
was used. Living rooms, kitchens and bedrooms have
laminated parquet flooring and the highest quality domestic
ceramic tile bathroom floors. Walls are painted with washable
water-based paint applied on plaster or plasterboard.
The ceilings are painted with water-based paint on satinfinished plasterboard. Only state-of-the-art materials and
workmanship have been used in the construction of Narcity.
This residential community has breathed new life into the
urban environment.
tepe inşaat
2010 ANNUAL REPORT
54
2010 YILI
OPERATIONS
FAALİYETLERİ
Investment
Projects
tepe inşaat
2010 ANNUAL REPORT
2010 YILI
OPERATIONS
FAALİYETLERİ
Investment
Projects
55
Tepe Prime Project
Commencement Date: October 2008
Delivery Date: October 2011
Land Owner: Turkish Cement
Manufacturers’ Association
The Tepe Prime Project will be built on lots owned by the
Turkish Cement Manufacturers’ Association located on
kilometer nine of the Eskişehir Highway and between the
Bilkent and Hacettepe Bridges. It will consist of Tepe Prime
Business, Tepe Prime Residence and Tepe Prime Avenue
sections.
To be built on an indoor area of approximately 92,800 square
meters, Tepe Prime was designed for the comfort and luxury
of its inhabitants with an infrastructure capable of meeting
all contemporary needs, flexible office space allowing easy
separation and consolidation of offices, a shopping center
with a unique, modern concept and a rich variety of social
facilities. This project is planned for completion by the end
of 2011. Featuring specially-designed, unique landscaping,
the project is developed as an answer for those in search of
prestige, quality and luxury in Ankara, with its modern offices,
residential units and shopping centers.
tepe inşaat
2010 ANNUAL REPORT
56
2010 YILI
OPERATIONS
FAALİYETLERİ
Investment
Projects
tepe inşaat
2010 ANNUAL REPORT
2010 YILI
OPERATIONS
FAALİYETLERİ
Investment
Projects
57
Maltepe 2 Housing Project
Commencement Date: December 2010
Completion Date: March 2014
Tepe İnşaat launched a new investment project on
approximately 66,000 square-meters of residential land in
Maltepe, Istanbul, in the immediate vicinity of the Narcity
Housing Project. The construction work will begin in
mid-2011; the construction of 550 residential units will be
completed in stages by 2014.
tepe inşaat
2010 ANNUAL REPORT
2010
OPERATIONS
Investment
Projects
58
Narkule
Project Commencement Date: October 2010
Project Completion Date: December 2011
Built in Maltepe, Istanbul on a plot of land neighboring
Narcity, the Narkule project was designed as a boutique
project that will let its residents enjoy the pleasure of living
in highrise buildings thanks to its modern architecture.
Launched with the slogan “Some Like It High,” Narkule
combines contemporary architecture that stands out with
a youthful, dynamic, and colorful style and its high-quality
living standard with breathtaking scenery. Almost all of the
residential units in the Narkule project, consisting of 27 floors
and 108 residences, have a view of the forest, the sea and
the islands.
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
59
TAV HAVALİMANLARI HAS TARGETED THE PROVISION OF COMPREHENSIVE
SERVICE IN AN INTEGRATED STRUCTURE TO BECOME A CORPORATION
THAT GROWS FROM LOCAL TO GLOBAL.
1997
• TAV was founded.
• ATU and BTA ventures, providing duty-free shopping
and catering services, were established under the TAV
umbrella.
2000
• TAV began operating the Istanbul Atatürk Airport
International Terminal.
2001
• The launch of “primeclass” CIP service.
tepe inşaat
2010 ANNUAL REPORT
60
TAV
HAVALİMANLARI
(TAV AIRPORTS)
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
61
2004
• TAV’s operating rights for the Atatürk Airport was extended
until 2005.
• BTA began operating the Istanbul International Airport
Hotel.
• TAV assumed the construction and operation of the
Esenboğa Airport Domestic and International Terminal;
TAV Esenboğa Yatırım Yapım ve İşletme A.Ş.
(TAV Esenboga) was founded.
• TAV İşletme Hizmetleri A.Ş. (TAV O&M) was founded.
2005
• TAV was awarded the tender to operate the Atatürk
Airport International and Domestic Terminal Building,
Parking Garage and the General Aviation Terminal for
15.5 years under a lease agreement.
• TAV İstanbul Terminal İşletmeciliği A.Ş. (TAV Istanbul) was
founded.
• Atatürk Airport Domestic Terminal also commenced
operation under the TAV umbrella.
• Acquisition of 60% of Havas shares.
• Construction and operation of the İzmir Adnan Menderes
International Terminal was transferred to TAV; TAV İzmir
Terminal İşletmeciliği A.Ş. (TAV Izmir) was founded.
• TAV Bilişim Hizmetleri A.Ş. (TAV IT) was founded.
• TAV was awarded the tender for Tbilisi International Airport
in Georgia. TAV Urban Georgia LLC. (TAV Georgia) was
established to operate this airport.
2006
• Operation and construction services were restructured
under “TAV Havalimanları Holding A.Ş.” (TAV Airports
Holding Co.) and TAV İnşaat (TAV Construction) as two
separate companies.
• İzmir Adnan Menderes Airport International Terminal
commenced service.
• Esenboğa Airport Domestic and International Terminal
commenced operation.
• TAV Özel Güvenlik Hizmetleri A.Ş. (TAV Security) was
founded.
tepe inşaat
2010 ANNUAL REPORT
62
TAV
HAVALİMANLARI
(TAV AIRPORTS)
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
63
2007
• TAV Airports Holding was offered to the public.
• Tbilisi International Airport new passenger terminal
commenced service.
• Batumi International Airport commenced operation.
• A refinancing agreement was signed to improve the terms
of the existing loans of TAV Esenboğa Yatırım Yapım ve
İşletme A.Ş.
• TAV Batumi Operations LLC. was founded.
• TAV Airports was awarded the tender for the Monastir
Habib Bourguiba and Enfidha Zine El Abidine Ben Ali
International Airports in Tunisia; TAV Tunisie SA was
established.
• Groundbreaking ceremony for the Tunisia Enfidha Zine El
Abidine Ben Ali International Airport was held.
• 40% minority shares of Havas were acquired; Havas
then became a wholly-owned subsidiary of TAV Airports
Holding.
• TAV Airports Holding became the 100% owner of TAV Izmir
and TAV Esenboga.
• TAV Airports Holding was awarded the tender for the
operation of Antalya Gazipaşa Airport.
• The Hopa Terminal operated by Havas commenced
service.
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
64
2008
• TAV Airports assumed operation of Tunisia’s Monastir
Habib Bourguiba International Airport.
• TAV Istanbul entered into a refinancing agreement to
improve the terms of existing loans.
• TAV Gazipaşa Yatırım, Yapım ve İşletme A.Ş. (TAV
Gazipaşa) was founded to operate the Antalya Gazipaşa
Airport.
• TAV Tunisie SA signed a project finance loan agreement.
• TAV Airports won the tender for the operation of the
Alexander the Great International Airport in Macedonia’s
capital Skopje and the St. Paul the Apostle International
Airport in Ohrid, Macedonia, as well as the construction
of the New Shtip Cargo Airport, which TAV Havalimanları
Holding also retains the optional right to operate; related
concession contracts were signed.
• TAV Airports acquired 6% of the share capital of TAV
Urban Georgia LLC, already 60% owned by TAV Airports;
following the share transfer, TAV Airports’ participation in
TAV Urban Georgia LLC increased from 60% to 66%.
2009
• The capital of TAV Havalimanları Holding A.Ş. was raised
from TL 242,187,500 to TL 363,281,250, all via cash
capital.
• A contract was signed for the transfer of 15% of the
minority shares of the TAV Tunisie SA, previously under
100% ownership of TAV Havalimanları Holding A.Ş., to
International Finance Corporation (IFC), a World Bank
affiliate, for € 27,999,825 on June 30, 2009.
• On 07/13/2009 operations commenced at the Antalya
Gazipaşa Airport, whose operation right for 25 years
belongs to TAV Gazipaşa Yatırım Yapım ve İşletme A.Ş. with 100% ownership of TAV Havalimanları Holding A.Ş.
• TAV Havalimanları Holding A.Ş. and the AL-RAJHI Holding
Group - established and active in the Kingdom of Saudi
Arabia - signed a joint venture contract on
November 9, 2009.
• TAV Tunise SA, 85% of which is owned by TAV
Havalimanları Holding, started to operate the Enfidha Zine
El Abidine Ben Ali International Airport. The Company
owns the operation rights of the airport until May 2047.
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
65
2010
• TAV Airports Holding assumed operation of Macedonia’s
Skopje and Ohrid airports for 20 years.
• Sale of Havaş shares closed.
• The sale of 18% minority shares of TAV Tunisie SA to Pan
African Infrastructure Development Fund closed.
• The expansion project of the Istanbul Atatürk Airport’s
Domestic and International Terminals was completed.
• Havaalanları Yer Hizmetleri A.Ş. (HAVAŞ) acquired a 50%
equity stake in North Hub Services (NHS), a provider of
ground handling services at Latvia’s Riga Airport.
• A memorandum of understanding was signed for the
construction and operation of the new terminal building
at Latvia’s Riga Airport. TAV Havalimanları and Latvia’s
leading airline company Air Baltic decided to become
equal partners in this joint venture.
• TAV İşletme Hizmetleri A.Ş. (TAV O&M) launched the TAV
Passport card, which offers many services and privileges
at the airports operated by TAV.
• Antalya Gazipaşa Airport was upgraded from the 2C
category to the 3C category.
• TAV signed a “Global Training Center” agreement with
Airports Council International (ACI), whose membership
includes more than 1,600 airports from round the world.
• TAV Airports was awarded the tender for the operation of
duty free, catering and other commercial spaces at Latvia’s
Riga Airport.
• A memorandum of understanding was signed with the
Indonesia-based company Sigma Group/PT Wira Cipta
Sukses and the Indonesian Government for cooperation
on potential airport projects in this country.
• The operation of five service points (Kantin, Beerport,
Kokpit Cafe, Kokpit Brasserie and İç Hatlar Botanik Cafe)
at the Istanbul Atatürk Airport Domestic Terminal was
assumed by BTA as of July 1, 2010.
• TAV Airports Holding’s Corporate Governance Rating
Score was raised from 83.3 (8.5) in 2009 to 9.
tepe inşaat
2010 ANNUAL REPORT
66
TAV
HAVALİMANLARI
(TAV AIRPORTS)
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
67
TAV’s story of success in airport operations, one the most
challenging industries in the world, began in 1997 with the
tender for the İstanbul Atatürk Airport International Terminal
and later went beyond the borders of Turkey.
TAV Havalimanları Holding, which has today become a
success story written with experience and creativity, was
established as a joint venture of the Tepe and Akfen groups
after they won the 1997 tender.
İstanbul Atatürk Airport is one of the world’s first examples
of airport operation projects undertaken under the BuildOperate-Transfer (BOT) model. As the first concrete step
in TAV’s success story, this project also serves as Turkey’s
modern face.
In a short period of time, thanks to its know-how, highly
qualified human resources and advanced technology, TAV
became a great success story in its industry and a global
brand in airport construction projects, as well as the totally
new area of airport operations.
With its objective to live up to the requirements of the present
day, TAV underwent restructuring in 2006 in line with its goals
and organized its activities as “operations” and “construction”
under TAV Havalimanları Holding (TAV Airports) and TAV
İnşaat (TAV Construction), respectively. TAV Havalimanları
Holding went public in February 2007 after this restructuring.
The Company continues to add to its accomplishments
while working relentlessly in to represent Turkey in the airport
operations industry.
TAV Havalimanları Holding is keenly aware that the primary
factor underneath its accomplishments is the intense and
dedicated efforts of its employees. The Company has
managed to become an expert airport operator, as well
as a human resources brand, thanks to the intense and
passionate work of its young and dynamic staff comprised
of the most qualified professionals in Turkey. Supporting
the development of its own employees through extensive
programs, TAV Airports is enjoying the advantages of its
distinguished standing due to its qualified human capital.
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
68
TAV Airports Holding Shareholding Structure 12/31/2010
TAV Havalimanları Holding A.Ş.
Share(1)
Tepe İnşaat Sanayi Anonim Şirketi
94,664,477
Akfen Holding Anonim Şirketi
94,886,071
Sera Yapı Endüstrisi ve Ticaret A.Ş.
16,208,775
Non-Floating Other
12,775,048
Floating Other
144,746,879
Total
363,281,250
%
26.06
26.12
4.46
3.52
39.84
100.00
(1) As of December 31, 2010
Shareholding Structure (%)
39.84%
4.46%
Sera Yapı Endüstrisi ve
Ticaret A.Ş.
Floating Shares (Other)
%0.8
Non-Floating
Shares (Other)
26.12 %
26.06%
Akfen Holding A.Ş.
Tepe İnşaat Sanayi A.Ş.
tepe inşaat
2010 ANNUAL REPORT
TAV
HAVALİMANLARI
(TAV AIRPORTS)
AIrports In
FIgures
69
Istanbul Atatürk Airport
International Terminal
Duration of Operation /
Expiration of Operation
2010 Passenger Traffic
2010 Commercial Flight Traffic
15 years 6 months /
January 2021
20,344,620
178,862
Domestic Terminal
15 years 6 months /
January 2021
11,800,999
94,887
Ankara Esenboğa Airport
16 years 7 months /
May 2023
7,759,479
11,742
Domestic Terminal
Duration of Operation/
16 years 7 months /
May 2023
6,433,490
51,643
Izmir Adnan Menderes Airport
Antalya Gazipaşa Airport
Duration of Operation / Expiration of Operation
Georgia Tbilisi International Airport
Georgia Batumi International Airport
20 years / February 2027
88,627
2,276
Tunisia Monastir Habib Bourguiba International Airport
40 years / May 2047
Tunisia, Enfidha Zine El Abidine Ben Ali
International Airport
Monastır and Enfidha Total Traffic
8 years 4 months /
January 2015
2,127,457
16,149
20 years /
February 2027
821,606
16,470
40 years / May 2047
3,916,977
31,801
Macedonia Skopje Alexander the Great International Airport
Duration of Operation
20 years
681,619
12,161
July 2034
Macedonia Ohrid St Paul the Apostle International Airport
Duration of Operation
20 years
44,175
647
tepe inşaat
2010 ANNUAL REPORT
TAV
CONSTRUCTION
70
TAV Construction has created a unique model in THE sector
with its innovative, modern structureS THAT ARE CURRENT WITH
techonological developments.
From its establishment under the umbrella of TAV in 2003,
TAV Construction has become one of Turkey’s most
remarkable and rapidly growing companies. To date, the
Company has a total of completed or ongoing projects with a
value of $10.2 billion.
The use of advanced technology is a major characteristic
distinguishing TAV Construction from other construction
companies.
TAV Construction provides a unique example in its sector,
through its innovative and modern approach and by closely
monitoring technological advances. Setting the standards
of perfection in terms of functionality and esthetics, the
Company has undertaken a total of 2,977,000 square meters
of projects, including airports and has become a player on
the international stage.
TAV Construction shares its vast experience coming from
projects not only with Turkey but from around the world.
The Company also provides consultations for airport
infrastructure, which has become an increasingly important
issue in a world where distances shrink daily. Expanding
into Northern Africa and the Gulf Region, TAV Construction
is building airports and smart buildings with state-of-the-art
technology.
TAV Construction has offices in Cairo, Doha, Dubai, Tripoli
and Muscat. In addition to airport construction, utilizing its
experienced staff and vast know-how, the Company also
provides technical maintenance and repair services, an area
in severely limited supply globally.
tepe inşaat
2010 ANNUAL REPORT
TAV
CONSTRUCTION
TAV ConstructIon
In FIgures
71
TAV Construction offers BROAD-BASED experience gained from
projects, not only FOR Turkey but FOR the whole world.
Doha International Airport
Project Value
Commencement Date
Completion Date
Job Description
Emirates Financial Towers
Project Value
Commencement Date
Completion Date
Job Description
Sulafa Tower (Dubai, UAE)
Project Value
Commencement Date
Completion Date
Job Description
US$ 3,691 million (65% Taisei, 35% TAV Construction partnership)
March 2006
February 2012
The construction of 505,000 square meter terminal
building, as well as three concourses
US$ 115 million
February 2007
June 2011
Construction of residential and commercial buildings of the twin Emirates
Financial Towers, each with 3B+G+25 stories
US$ 103.5 million
January 2006
February 2011
Construction of the 79 story Sulafa Tower Luxury Residences at the Dubai
Marina with a total construction area of 133,000 square meters (UAE)
Hotel and Residence Construction at the Dubai Marina (UAE)
Dubai Marina
101 Hotel and Residence (Dubai, UAE)
Project Value
US$ 198 million
Commencement Date
January 2008
Completion Date
November 2011
Job Description
Construction of Marina 101 Hotel and Residence with a total construction area
of 156,000 square meters in Dubai Marina (UAE)
tepe inşaat
2010 ANNUAL REPORT
TAV
CONSTRUCTION
TAV ConstructIon
In FIgures
72
Libya Tripoli International Airport
Project Value
Commencement Date
Completion Date
Job Description
US$ 2,103 million (50% Odebrecht, 25%
TAV Construction and 25% CCC partnership)
August 2007
May 2013
Two airport terminals built on a construction area of
206,112 square meters each (10 million passengers/year)
Libya Sebha International Airport
Project Value
US$ 229 million (50% TAV Construction and 50% CCC partnership)
Commencement Date
December 2008
Completion Date
June 2013
Job Description
Airport construction (5 million passengers/year)
Oman Muscat International Airport - MC1 Package
Project Value
US$ 1,170 million (50% TAV Construction and
50% CCC partnership)
Haziran 2009
Commencement Date
June 2009
Completion Date
January 2013
Job Description
Infrastructure work of the Muscat International Airport
Istanbul Atatürk Airport Development 2010 Investments Project
Project Value
US$ 40 million
Commencement Date
February 2010
Completion Date
April 2011
Job Description
The development and expansion of the airport terminal building
Macedonia Skopje and Ohrid Airports Construction Project
Project Value
US$ 110 million
Commencement Date
March 2010
Completion Date
October 2011
Job Description
The construction of Skopje Airport and renewal in Ohrid Aiport
tepe inşaat
2010 ANNUAL REPORT
73
TAV
CONSTRUCTION
TAV ConstructIon
In FIgures
tepe inşaat
2010 ANNUAL REPORT
74
İstanbul Deniz
Otobüsleri (İDO)
(Istanbul Fast
Ferry Co. Inc.)
Following its constant development principle, Tepe İnşaat became a
shareholder of İDO via TASS Denİzcİlİk ve Ulaştırma Hİzmetlerİ A.Ş.
(TASS), in which it has an ownership stake and generated new momentum
for its corporate development.
İstanbul Deniz Otobüsleri Sanayi ve Ticaret A.Ş. (İDO),
established in 1987 by Istanbul Metropolitan Municipality
to provide solutions for Istanbul’s sea transportation, was
acquired on June 16, 2011 by TASS Denizcilik ve Ulaştırma
Hizmetleri A.Ş. (TASS), a joint venture of Tepe İnşaat, Akfen
Holding, Souter Investments and Sera Gayrimenkul. İDO’s
privatization transaction was undertaken via a tender for the
block sale of shares in accordance with the Privatization Law
No. 4046; the deal closed with a final acquisition price of
US$ 861 million.
34 traditional passenger ferries used for intra-city passenger
transportation and 49 intra-city ferry terminals that were
also owned by İDO were excluded from the privatization;
these assets were transferred to İstanbul Şehir Hatları Turizm
Sanayi ve Ticaret. A.Ş., a subsidiary company of Istanbul
Metropolitan Municipality.
İDO: A powerful alternative in mass transit with its
speed and quality
As of June 16, 2011, TASS Denizcilik ve Ulaştırma Hizmetleri
A.Ş. officially took over the management of İDO, one of the
world’s largest sea transportation fleets with 17 conventional
vehicle-passenger ferries, ten vehicle-passenger fast ferries
and 25 sea buses. As part of capacity expansion efforts
at İDO, TASS is rapidly undertaking human resources and
technology investments. İDO currently operates four inter-city
fast ferry lines as well as two, one inter-city and one intra-city,
conventional vehicle-passenger ferry lines. In the near future,
the Company is planning to unveil solutions that will ease the
burden on highway transportation in the Marmara region in
terms of speed and quality, thereby creating large valueadded for the Turkish economy. Corporate development of İDO
1987 The first two sea buses with a capacity of 449
passengers commenced service. During the same year, three
more sea buses were purchased and put into service.
1988 İDO’s total number of vessels rose to ten with the
addition of five new sea buses.
1992 Kartal and Kadıköy terminals were opened for service.
1994 Two 155-passenger, Monohull model sea buses were
purchased, raising İDO’s vessel count to 12.
1996 İDO’s fleet size reached 14 with the acquisition of two
450-passenger sea buses.
1997 İDO’s fleet size grew to 20 with the addition of three
350-passenger sea buses, two fast ferries each with a
capacity of 450 passengers and 94 vehicles, and one 400passenger sea bus that was manufactured domestically for
the first time (in the Pendik Shipyard of Türkiye Gemi Sanayi).
A new line was launched between Yalova and Yenikapı during
the year as Istanbul’s first fast ferry service.
1998 Manufacturing of two fast ferries with a capacity of 800
passengers and 200 vehicles to be used as part of İDO’s fleet
was completed. The sea bus, Temel Reis II, manufactured at
the Pendik Shipyard, was put into service.
2000 Barbaros Hayrettin Paşa and Sokullu Mehmet Paşa,
two 400-passenger sea buses manufactured at the Pendik
Shipyard, commenced service.
2003 İDO launched an online reservation and sale system
for its inter-city (ticket-based) fast ferry and sea bus lines and
began ticket sales via credit card.
2004 Two fast ferries with a capacity of 588 passengers and
112 vehicles were purchased and put into service on the
Pendik-Yalova line.
2005 Two 155-passenger monohull sea buses were turned
over to the İzmit Municipality. The management of City Line
Ferry Services, which was previously owned and operated by
Turkish Maritime Organization (TDİ), was transferred to İDO
along with the vessels and terminals.
2007 Five new sea buses manufactured in Singapore and
the Osman Gazi–1 and Orhan Gazi–1 fast ferries, with a
capacity of 225 vehicles and 1,200 passengers, that were
manufactured by Austal joined İDO’s fleet.
The domestically-manufactured conventional vehiclepassenger ferry Suhulet was added to the İDO fleet.
2008 Sahilbent, Suhulet’s sister vessel, joined the İDO fleet.
Sultan Ahmet and Sadabat conventional vehicle-passenger
ferries commenced service. Yavuz Sultan Selim and Kanuni
Sultan Süleyman, Double-Ended model fast ferries that
were manufactured by DAMEN in China, were added to the
İDO fleet. The Fatih vessel, the first one among the Model 4
ferries chosen by the people of Istanbul, was put in service.
2009 Other Model 4 ferries Kadıköy, Beyoğlu, Beykoz and
Sarıyer commenced service. New Haliç (Golden Horn) ferries
joined the İDO fleet.
2010 34 traditional passenger ferries and 49 intra-city ferry
terminals were transferred to İstanbul Şehir Hatları Turizm
Sanayi ve Ticaret. A.Ş., a subsidiary company of Istanbul
Metropolitan Municipality.
2011 İDO Sanayi ve Ticaret A.Ş. was turned over to the
TASS (Tepe-Akfen-Souter-Sera) Joint Venture Group.
tepe inşaat
2010 ANNUAL REPORT
75
İstanbul Deniz
Otobüsleri (İDO)
(Istanbul Fast
Ferry Co. Inc.)
tepe inşaat
2010 ANNUAL REPORT
HUMAN
RESOURCES
76
Tepe İnşaat’s up-to-date Human Resource policy is built on success,
creating a difference in its sector with the importance it gives to
highly qualified individuals.
With the belief that corporate success can only be attained
with well-informed, experienced and motivated employees
who identify with their profession, Tepe İnşaat has utter
confidence in the support and productivity of its staff.
Tepe İnşaat’s modern Human Resources policy is built on
success. This policy is oriented toward recruiting highly
qualified individuals and making the most productive use of
this workforce.
With the belief that corporate success can only be attained
with well-informed, experienced and motivated employees
who identify with their profession, Tepe İnşaat has utter
confidence in the support and productivity of its staff. The
Company provides its employees with training opportunities,
ensures that they join the system in a conscientious manner;
it thereby aims to attain and constantly improve modern
quality standards and customer satisfaction in all stages of
production. Tepe İnşaat relentlessly invests in its personnel
and strives to maximize employee satisfaction.
Distinguishing itself in the rapidly developing construction
sector thanks to the importance it attaches to Human
Resources, Tepe İnşaat aims to further reinforce its position
as a corporation cherished by its employees and the rest of
the highly qualified workforce.
With this target in mind, the Human Resources management
attaches utter importance to the professional training of
employees and works to ensure that employees enhance
their competences through corporate experience and to
create the most appropriate environment for them to reach
their career goals. Tepe İnşaat encourages the Human
Resources management to come up with innovative
business practices.
As of year-end 2010, Tepe İnşaat had 583 employees - 523
males and 60females. Approximately 55% of the employees
hold a university or higher educational degrees; 40% have
been employed by Tepe İnşaat for more than five years.
tepe inşaat
2010 ANNUAL REPORT
HUMAN
RESOURCES
77
Age Profile (%)
32%
20-30
Gender Profile (%)
19%
41 and above
15%
85%
Female
Male
49%
31-40
Support Personnel Breakdown (%)
Tenure Profile (%)
14%
10%
63%
15-35
years
1-5 years
5-15 years
Functional Profile (%)
Administrative
Personnel
8%
Support
Units
27%
21%
Head
Office
37%
Other
Personnel
47%
Technical
Personnel
23%
Domestic
Contracting
Projects
17%
Domestic
Investment
Projects
37%
International
Projects
tepe inşaat
2010 ANNUAL REPORT
78
OCCUPATIONAL
SAFETY,
ENVIRONMENT AND
QUALITY POLICY
Tepe İnşaat raises the awareness of its employees as well as society
regarding increasing the usability of resources over the long term by
undertaking exemplary initiatives.
Tepe İnşaat’s ISO 14001 Environmental
Management System
Just like it is impossible for companies to sustain their
existence and profitability by cranking out products that
do not meet customers’ standards and expectations in
today’s rapidly evolving global conditions, the companies
that constantly harm the environment during the course of
their operations, negatively impact the usability of resources,
ignore human health and safety and fail to take concrete
steps to address these issues, will not have a long-lasting
presence in the market.
In an effort to conduct environmental practices in a
healthy manner that conforms to established standards,
Tepe İnşaat’s Senior Management has adopted the ISO
14001 Environmental Management System, formulated an
environmental policy and presented it for the public’s scrutiny.
Taking all of its operations and products into consideration,
the Company identified their environmental dimension and
impact and set goals and targets to mitigate or to completely
eliminate the outstanding problems. Tepe İnşaat achieves
its goals by implementing concrete programs in this matter
and complies with the related requirements of Turkish
Environmental Laws and Regulations as well as the additional
conditions it imposes on itself.
Tepe İnşaat administers planned training sessions to
raise companywide awareness about the Environmental
Management System and to increase participation and
responsibility-taking levels of its employees. The training
courses and applications raise awareness for all employees,
standard theoretical training and risk assessment for
managers and technical staff and practical training, general
environmental management information, management of
hazardous chemicals, protective equipment use, emergency
planning and similar sessions for field and application
workers. Training of subcontractors on these matters
comprises a significant share of construction site training
initiatives.
The operation of the system is monitored and measured
separately for each process, thereby ensuring continuity.
The monitoring and measurement results provide the data
needed for improvement.
Tepe İnşaat’s waste management policies include minimizing
waste generated by each unit at its source, increasing
the recycling rates, transport and removal of hazardous
wastes by accredited, licensed companies, preference for
environmentally friendly products to the maximum extent
possible, regular storage, as well as taking the necessary
steps to create a common framework with suppliers and
local administrations to establish healthy communication with
these stakeholders.
As part of the effectiveness assessment of the Environmental
Management System, the Company overhauls its processes
where necessary, ensures the deployment of appropriate
technology and develops project-specific solutions.
Tepe İnşaat’s vision is to create highly deliberate personnel,
complete harmony with the system by all related parties and
to sustain the usability of resources by increasing societywide awareness.
Tepe İnşaat’s OHSAS 18001 Occupational Health and
Safety Management System
In an attempt to control the occupational health and safety
risk of its employees and other parties and to maintain
effectiveness, Tepe İnşaat has adopted the OHSAS 18001
Management System, created the Occupational Health and
Safety policy, satisfied the necessary conditions and obtained
the necessary certification.
As part of the initiative to develop the Occupational Health
and Safety Management System, the Company used the
PDCA Cycle (Plan-Do-Check-Act) developed in part by
Edward Deming and actively utilized in other management
systems as well.
At the planning stage, hazards related to Company activities
are identified and an effective risk assessment is performed.
During the assessment process, the Company acts based on
substantial approaches as well as experience and foresight
gained from the Company’s operations in the past years.
The focus is on taking measures to prevent potential hazards
with a proactive approach rather than fighting against
realized dangers. Tepe İnşaat strives to mitigate or eliminate
intolerable risks.
tepe inşaat
2010 ANNUAL REPORT
79
OCCUPATIONAL
SAFETY,
ENVIRONMENT AND
QUALITY POLICY
Following the risk assessments, Occupational Health and
Safety goals for various processes are set in accordance with
technological facilities and operating conditions stipulated by
the laws and regulations as well as by the Company itself.
Action plans formed in relation to these are implemented and
they are continuously updated.
At the field and application stage, employees at construction
sites and units with similar operating conditions, including
subcontractors, receive continuous training about
compliance with Occupational Health and Safety-related
methods and procedures established at Tepe İnşaat,
responsibility allocation, potential risks, emergency situations,
protective equipment use, etc. The implementation
effectiveness of documented methods and procedures is
definitely evaluated.
Operation control criteria are generated with regard to
activity, equipment, area-based directives, process-based
regulations, practical checklists, and monitoring and
measurement plans. Maximum effort is expended to prevent
deviations.
Accidents, incidents and near-miss events are analyzed
multi-laterally and permanent improvements are made in
the system via statistical analyses utilizing corrective and
preventive actions.
Construction site Occupational Health and Safety supervisors
constantly monitor field work and practices with periodic
controls, measurements, analyses and maintenance
regarding each process carried out by process owners in
accordance with the plans. System overhaul needs are
identified and implemented by way of planned internal audits
and detailed review meetings. Tepe İnşaat’s Occupational
Health and Safety Management System applications are
an indication of the value the Company attaches to its
employees; they increase customer satisfaction and raise
general awareness, minimize potential losses and provide
professional assurance to all related parties.
tepe inşaat
2010 ANNUAL REPORT
BİLKENT
UNIVERSITY
80
Opening its doors in 1986 with 386 enrolled students, Bilkent University
today is a world-renowned educational center with 39 educational
programs in nine faculties, two undergraduate colleges and three
vocational schools. At the university, 12,000 students receive a world class
education from a faculty of academicians from 40 different countries.
The aim of Bilkent University, the first foundation-owned
private university in Turkey, is to be among the world’s
leading universities in terms of cultural and artistic activities
based on the quality of its educational programs, academic
research and a long list of publications.
Bilkent University was founded on October 20, 1984
by a joint resolution by the İhsan Doğramacı Education
Foundation, İhsan Doğramacı Health Foundation and İhsan
Doğramacı Science and Research Foundation. The aim of
this institution, the first foundation-owned private university
in Turkey, is to be among the world’s leading universities in
terms of cultural and artistic activities based on the quality of
its educational programs, academic research and a long list
of publications. The name Bilkent exemplifies the founder’s
aim; it is an acronym of “bilim kenti” Turkish for “city of
science and knowledge.”
Preparations for the establishment of Bilkent University
began as early as 1967, with the purchase of a large tract
of land to the west of Ankara. In the late 1970s and early
80s the foundations undertook construction efforts. The
first buildings on the campus are those that now house
the University’s administrative offices, the Faculty of
Engineering and the Library. These were followed by the
construction of cafeterias, student dormitories, the School
of English Language and the student union buildings
in rapid succession. As the University expanded and
the student body grew, the Faculties of Humanities and
Literature, Economics, Administrative and Social Sciences,
Management, Art, Design and Architecture, Science,
Music and Performing Arts, Law and Education, a concert
hall, fitness centers, a preschool and nursery, elementary,
secondary and high schools, new cafeterias, two health
centers, the East Campus vocational school buildings,
classrooms and a building housing the computer center
followed.
Opening its doors in 1986, with 386 enrolled students,
Bilkent University today is a world-renowned educational
center with nine faculties, two undergraduate colleges and
three vocational schools with 39 educational programs.
At the university, 12,000 students receive a world class
education from a faculty of academicians from 40 different
countries.
In line with its principle of establishment, Bilkent University
arranged exchange programs with many select universities
around the world, to give its students an international vision
and raise the quality of its education to the level of the
world’s successful and select universities. These institutions
include the University of California, Georgia Institute of
Technology, University of Maryland, Washington University
and the University of Michigan in the US; Essex University in
England; Pforzheim and Konstanz Universities in Germany;
Rome and Bocconi Universities in Italy; Ecole Superieure de
Commerce de Clarmont and Ecole Superieure de Commerce
de Lille Universities in France; McGill and Montreal
Universities in Canada; Tilburg and Amsterdam Universities in
the Netherlands; Southern Denmark University in Denmark;
Tel-Aviv University in Israel and Waikato University in New
Zealand.
Graduates of Bilkent University successfully represent their
school in the business world and in major educational
institutions throughout the world, thanks to the modern
vision they acquire through their education and their expert
knowledge.
tepe inşaat
2010 ANNUAL REPORT
BİLKENT
UNIVERSITY
81
Bilkent Symphony Orchestra
tepe inşaat
2010 ANNUAL REPORT
82
BİLKENT
UNIVERSITY
tepe inşaat
2010 ANNUAL REPORT
BİLKENT
UNIVERSITY
83
The Career Development and Placement Center, formed
by the University in 1988 to help students with their postgraduation plans and the actualization of such plans,
established very strong ties between the students, graduates
and the business world. The Career Development and
Placement Center has the distinction of being the first center
in Turkey established for this purpose.
Bilkent continues to be first in Turkey in terms of the number
of international academic publications per faculty member
and maintains its pioneering role in higher education.
Bilkent University in Figures
• Established in 1984 as Turkey’s first private university, it
commenced education in 1986.
• The campus sits on 1,250 acres of which 750 are wooded.
• Approximately one-quarter of the 12,000 students attend
the University on a scholarship.
• To date, the University has had more than 30,000
graduates.
• Of the students who took the 2009 ÖSS (the centralized
university entrance exam in Turkey), 33 of the highest
100 scorers in the SAY-2 and EA-2 categories, four out
of the top ten highest scorers in the SAY-2 category and
the highest scorers in the DİL and SÖZ-2 categories all
currently attend Bilkent University.
• The University offers 39 undergraduate and associate
programs and 47 post-graduate programs.
• Approximately 2,000 courses are offered each year
within nine faculties, two professional schools and three
vocational schools.
• Bilkent has an academic staff of nearly 1,000, one-third
coming from 40 different countries.
• The faculty members were supported with a budget of
nearly TL 250,000,000 between 2005 and 2010 via 172
TÜBİTAK projects, 62 European Union projects and 74
private and public sector company projects.
• Computer labs have more than 2,000 computers available
for use 24 hours a day, 365 days a year.
• The student exchange programs include more than 250
universities worldwide.
• Used by 60,000 researchers and students every year,
the University library is open 362 days a year and has an
extensive collection of 420,000 books and subscriptions
to more than 90,000 periodicals, electronic journals and
interactive databases.
• Approximately 500 established institutions visit Bilkent
University each year to promote their organizations and
reach out to potential employees.
• There are approximately 80 student clubs.
tepe inşaat
2010 ANNUAL REPORT
BİLKENT
UNIVERSITY
84
• Bilkent students have been lending a helping hand with
elementary and middle schools, senior citizens and others
in need throughout Turkey since 1999 with the projects
they develop. Students have been involved in voluntary
Social Responsibility Projects since 1999.
• Radio Bilkent is staffed by students; it broadcasts at 96.6
MHz on the FM band.
• Dormitories can house 4,000 students.
• The Health Center serves students on a 24/7 basis.
• Consisting of nearly 100 musicians from 12 different
countries, the Bilkent Symphony Orchestra performs more
than 70 concerts each year at the Bilkent Concert Hall able
to seat an audience of 730. Bilkent Symphony Orchestra is
the “first private, academic, international artistic ensemble”
in Turkey.
• Established in 2002, Bilkent Cyberpark is Turkey’s fastest
growing technology park. It serves more than 180
companies with 2,700 employees in a total indoor area of
86,500 square meters.
• According to the survey conducted jointly each year by
Quacquarelli Symonds and Times Higher Education and
published by the U.S. News & World Report magazine,
Bilkent University is the only Turkish university ranked in the
top 400 in the world. In 2009, Bilkent was ranked 360th
in the overall ranking and 129th in the engineering and
information technologies category.
• According to the report published by Times Higher
Education and Thomson Reuters in 2010, Bilkent
University ranks among the world’s best 200 universities,
in the 112th place. This ranking is based on such criteria
as the quality of education in the universities, diversity of
international students and faculty members, contributions
to the industry, scientific research and citations to their
academic publications.
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2010 ANNUAL REPORT
85
BİLKENT
UNIVERSITY
Head Office
Beytepe Köyü Yolu No: 5
Bilkent, Ankara, TURKEY
Phone: +90 (312) 266 58 00 (13 Lines)
Fax: +90 (312) 266 78 38-39
e-mail: [email protected]
Istanbul Office
Başıbüyük Mahallesi, Kuyular Düzü Mevkii,
Emek Cad. No: 281
Maltepe, Istanbul, TURKEY
Phone: +90 (216) 675 06 66-67
Fax: +90 (216) 675 06 68
Afghanistan Regional Office
Tepe Construction Ind. Inc.
Mesjidi Road Wazir Akbarkhan
No: 553 Kabul, AFGHANISTAN
Arbil Regional Office
İhsan Doğramacı Erbil Foundation
Bilkent International School Construction
Site Torex Village, Mosul Road, Erbil, IRAQ
Sulaimaniya Regional Office
Federal Development CompanyTepe Construction Ind. Inc. Joint Venture
Sulaimania New University Campus
Construction Qilyasan, Suliamania, IRAQ
www.tepeconstruction.com
www.tepeinsaat.com.tr

2010 annual report

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