Founded in 1986, Akfen Construction commenced its operations with contracting projects and accumulated a significant expertise on infrastructure and superstructure projects. The Company has completed projects worth over USD 3.5 bn (USD 2.9 bn corresponding to Akfen Construction share in those projects) including landmark infrastructure projects such as İstanbul Atatürk and Ankara Esenboğa Airports’ international terminals, Bursa natural gas distribution line and Tüpraş İzmit Refinery new reformer and desulphurization unit.
Starting from 2013, Akfen Construction has evolved into an investor and diversified its portfolio in the fields of health, education and prominent real estate assets.
By today, the investment portfolio of the company comprises 3 hospital PPP assets with a total of 2,600 bed capacity, a student housing asset with c.a 2,300 bed capacity and a real estate portfolio of 145 residential and 39 commercial units.
Akfen Construction differentiates itself with its investment portfolio providing long term, predictable, protected against market risks and sustainable cash flow with no receivable risk.
The Company is one of the leading PPP investor specialized in hospital projects as an investor as well as contractor.
By 2024Q3 LTM, consolidated revenue of the Company is USD 299mn and consolidated EBITDA is USD 121 mn of which over 90% of EBITDA is generated through hospital PPP assets.
| Project | City | Business Type | Projected / Actual Opening Date | Contract Duration (*) | Remaining Contract Period (As of 30.06.2024) | Total Capacity | |
| PPP Hospitals | Isparta City Hospital | Isparta | Public Private Partnership | March 2017 | 24 years 3 months (05.11.2039) | 15 years 4 months | 845 beds |
| Eskişehir City Hospital | Eskişehir | Public Private Partnership | October 2018 | 28 years (31.12.2044) | 20 years 6 months | 1,150 beds | |
| Tekirdağ City Hospital | Tekirdağ | Public Private Partnership | November 2020 | 24 years 3 months (01.02.2043) | 18 years 7 months | 605 beds | |
| Student Housing | Hacettepe Student Dormitory | Ankara | Right Of Use And Asset Leasing | January 2016 | Construction rights for 49 years starting Feb. 2013 | 37 years 4 months | 2,264 students |
| Real Estate Portfolio | İncek Loft | Ankara | Construction and Sales | June 2016 | – | – | 143 residences and 39 units of commercial space |
| İncek Villa | Ankara | Investment Property | Q1 2024 | – | – | 1,169 m2 | |
| Housing (Romania) | Bucharest | Investment Property | Q4 2024 | – | – | 125 m2 | |
| Ongoing Contracting Projects | Yalıkavak Loft | Muğla | Construction | Q2 2025 | Site delivery + 24 months | – | 29 villas |
| Kıyıkışlacık (Loft Iasos) Project | Muğla | Construction | Q4 2027 | Site delivery + 36 months | – | 464-unit facility | |
| The Sisters of Mercy Hospital (**) | Zagreb | Construction and Reinforcement | Q4 2025 | Site delivery + 23 months | – | New construction of 2 buildings, restoration of 4 buildings | |
| İskenderun State Hospital (***) | Hatay | Construction | Q2 2026 | Site delivery + duration stated in the contract | – | 600 bed hospital construction | |
| Amasya State Hospital (****) | Amasya | Construction | Q4 2026 | Site delivery + duration stated in the contract | – | 600 bed hospital construction | |
| Emergency State Hospitals (*****) | Hatay | Construction | Q3 2024 | Site delivery + duration stated in the contract | – | Construction of 3 hospitals, each with 50 beds (40,850 m2 construction area) |
(*) Contract periods for construction works may be extended in accordance with the agreements and/or contract provisions to be reached by the contract counterparties and in some cases, due to annotated site delivery, the period until the actual site delivery is made is added to the duration of the work.
(**) In their joint bids, Akfen İnşaat and Dost İnşaat have stated that 60% of the contract value belongs to Akfen İnşaat and 40% belongs to Dost İnşaat. All bidders will be jointly and severally responsible for the proper fulfillment of the contractual obligations.
(***) The project is being carried out by Akfen İnşaat – Dost İnşaat Ordinary Partnership and the Company’s share in this partnership is 99,99%.
(****) The project is being carried out by Akfen İnşaat – Dost İnşaat Amasya State Hospital Construction Work Ordinary Partnership and the Company’s share in the partnership is 99,99%.
(*****) The project is being carried out by Akfen İnşaat Turizm ve Ticaret A.Ş., Dost İnşaat ve Proje Yönetimi A.Ş. Joint Venture and the Company’s share in this joint venture is 99,99%.
