It took a decade of political and economic reforms, a strong par-liamentary democracy, a customs union with the EU, and a great deal of ingenuity but Turkey has

done what most emerging markets of the world are dreaming of — it tripled its per capita income from $3,492 to $10,444 and reduced poverty, while growing its economy more than eight per cent a year, achieving in the last two years the highest rate of GDP growth after China, to become one of the world’s fastest-growing economies. Growth has recently slowed as Tur-key’s largest trading partner, the Euro-pean Union, which imports half of its goods, is shuddering from the effects of the prolonged Eurozone crisis, which is projected to continue in 2013. As a result, the Turkish economy grew by three per cent in 2012, and is estimat-ed for 2013 to remain at 4.1 per cent.

The country’s social and economic transformations, which have been led by Prime Minister Recep Tayyip Erdoğan since 2003, have become an inspirational model for the Middle East, as Turkey has risen from the ashes of the downtrodden Ottoman Empire to once again become a pivotal player with a strategic role at the crossroads of Europe, the Middle East and Russia. Furthermore, its memberships of the G20 and NATO, the European Council, the Organisation of the Islamic Confer-ence and the Black Sea Economic Co-operation have also ensured Turkish

prestige in the international commu-nity. The attraction of Turkey’s domes-tic market of 75 million, together with a young and skilled workforce, are also proving a strong incentive for increased investment and trade, as Turkey’s pop-ulation is forecast to grow to 92 million by 2050.

There have been some bumps in the road in respect to Turkey’s relations with its neighbours. The escalation of violence in Syria continues to worry the region, and the pressure for protec-tive military measures are growing, however Turkish diplomacy has re-mained staunchly supportive of the

Arab League and United Nations to find an acceptable resolution of the conflict. Indeed Turkish diplomacy has looked eastwards with greater solidar-ity, trade and cooperation with the Muslim world and this has been fur-thered accentuated as Turkey’s rela-tions with the EU have cooled follow-ing the stalling of its accession talks to the monetary union.

Turkey is now increasingly develop-ing closer relations with the Middle East, and the UAE in particular. The UAE is today Turkey’s main trading partner in the GCC, with bilateral trade increasing from $355 million in 2000

to over $5.3 billion in 2011, with an expected $7 billion for 2012. More than $6 billion worth of construction contracts were awarded to Turkish businesses in the Emirates over recent years, most recently the Turkish con-struction company TAV was awarded the contract for construction of Abu Dhabi Airport, and Yapi Merkezi re-cently built the world’s longest fully-automated and driverless metro — Dubai Metro, and Turkish steel is building much of Dubai’s high-rise buildings. Tourism and business travel is also increasing as Turkish Airlines announced new flights to the UAE and GCC countries as it expands its Asian and Middle East network. Trade has also increased in logistics, banking, food and retail, with 850 Turkish com-panies operating in the UAE. UAE busi-nesses have also penetrated the Turk-ish market with 193 UAE firms operating there in 2012. Turkey’s Am-bassador to the UAE, Vural Altay, is confident that relations with Turkey’s biggest partner in the GCC will be fur-ther enhanced as increased political and economic ties are strengthened.

“The country is experiencing a sig-nificant momentum in Turkish-UAE relations. The boom in trade and in-vestment, coupled with the visit of Turkish President Abdullah Gul to the UAE in January 2012 and General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces visit to Turkey in February 2012, have ensured a de-termined improvement of the bilateral relations, which will undoubtedly flour-ish in the years to come. The two na-tions share many cultural and histori-cal values, and have a common understanding of sustaining a prosper-ous Middle East as a hub for trade, tourism and investment.”

UAE is Turkey’s biggest partner in the GCC

Turkey - uAe bilATerAl Ties

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Rise of the crescent and star

General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, with Turkish President Abdullah Gul in Ankara. — AFP

Turkey is now increasingly developing closer relations with the Middle East, and the UAE in particular. The UAE is today Turkey’s main trading partner in the GCC, with bilateral trade increasing from $355

million in 2000 to over $5.3 billion in 2011, with an expected $7 billion for 2012. More than $6 billion worth of construction contracts were awarded to Turkish businesses in the Emirates over recent years, most recently the Turkish construction company TAV was awarded the contract for construction of Abu Dhabi Airport, and Yapi Merkezi recently built the world’s longest fully-automated and driverless metro — Dubai Metro, and Turkish steel is building much of Dubai’s high-rise buildings

The uae and the republic of Turkey recently signed an Intergovernmental agreement for the development of power plants and associated mines in the afsin-elbistan region of Turkey.

The agreement marks the start of exclusive negotiations between abu dhabi national energy Company PJSC (TaQa), Turkey’s electricity Generation Co. Inc. (euaS) and the Turkish govern-ment for the project with a combined power generation capacity of up to 7,000 MW.

TaQa and euaS have been selected as the government-related entities re-sponsible for implementing the proj-ect. The two companies have signed a Memorandum of understanding (Mou) for the establishment of a proj-ect company in which TaQa and any future partners would retain the ma-jority shareholding.

Mohamed bin dhaen al hamli, Min-ister of energy of the uae, said, “This agreement further strengthens the bond between Turkey and the uae, adding an important commercial di-mension to this strategic relationship.”

Taner yildiz, Minister of energy and natural resources of Turkey stated that the agreement is worth $12 bil-lion.

The development of Turkey’s indig-enous lignite resources is a priority be-cause it enables the nation to reduce its dependence on imported natural gas. Lignite’s role in power genera-tion is set to expand alongside rapid growth expected in electricity de-mand. approximately 40 per cent of Turkey’s lignite is located in the afsin-elbistan basin.

The negotiations will lead to the signing of a host Government agree-ment in the second quarter of 2013, establishing more detailed terms.

The UAE and Turkey join together to develop power plants

resourcing energy

S Vural Altay (left), Ambassador of Turkey to the UAE. (Right) Altay and Elif Comoglu Ulgen, Consul General, cut the ribbon at the Turkish pavilion at the Global Village in Dubai

UAE and Turkey sign a $12 billion agreement for energy investment

Turkey is ranked the 13th most attractive destina-tion for FDI in the world, and ninth among emerg-

ing countries. It attracted $16 billion worth of FDI in 2011, and ranks 43rd among 144 countries for global competitive-ness in the World Economic Fo-rum’s global competitiveness index (2012-2013). Turkey’s macroeconomic stability and a healthy GDP of $73.64 million have improved its overall com-petitiveness, and the Turkish fi-nancial sector is assessed as ‘more trustworthy and finance as more easily accessible for businesses.’ Standard and Poor’s gave Turkey an upgrade in 2012 on its local currency sovereign credit rating, to an investment-grade BBB.

In the last 10 years, the Turk-ish lira has also gained consider-able value and maintained sta-bility, and it is today once again an internationally exchangeable currency, which has ensured that the Turkish banking sector remains one of the strongest and most extensive in the Middle East, Central Asia and East Eu-rope. This combination of eco-nomic stability, growth and fi-nancial prosperity create the optimal conditions for invest-ment.

The potential investor’s first port of call is the Republic of Turkey Prime Ministry Invest-ment Support and Promotion Agency (ISPAT), which is re-sponsible for promoting invest-ment opportunities to a global

audience. ISPAT gives investors the assistance they need before travelling to Turkey, during their stay, and well as following up on investment opportunities once they conclude their fact-finding missions. International inves-tors can use ISPAT as a reference point and make their business contacts through this agency to all other institutions in Turkey.

If travelling to Turkey to ex-plore investment ventures is not an immediate option, ISPAT has a global reach with a network of local representatives in the UAE, as well as Saudi Arabia, Bahrain, Kuwait, Oman, and Qatar. Other representatives can be reached in several European capitals as well as Canada, China, India, Japan, the Russian Federation

and the USA. They offer an ex-tensive range of services through a ‘one-stop-shop’ approach. IS-PAT’s services are free-of-charge and provide for market informa-tion and analyses as well as in-dustry overviews and compre-hensive sector reports. The agency is able to find Turkish companies for potential partner-ships and joint ventures and en-gages in negotiations with rele-vant governmental institutions for the facilitation of legal proce-dures in the establishment of business operations. Investors are also advised on how to ob-tain incentive applications, li-censes as well as work and resi-dence permits.

“UAE businesses already have excellent relations with Turkey’s

construction sector, but there exists further room for new ven-tures as Turkey’s construction and contracting sector is now the second largest export generator in the world after China,” said Ilker Ayci, President of ISPAT. He adds that there are also op-portunities in the manufacturing sectors, as Turkey is among the world’s leading producers of consumer electronics and home appliances, as well as agricul-tural products, ships and other transportation equipment, mo-tor vehicles, textiles and con-struction materials.

The country is open for invest-ment in infrastructure projects in education, energy, defence, health, transportation and other public services through public and private partnership (PPP). While Turkey’s privatisation ef-forts totalled $44 billion in the last eight years, there are still ar-eas which will be privatised, such as infrastructure and energy generation. Considering Tur-key’s growing demand for ener-gy which will require more than $100 billion worth of invest-ment in the next decade, there are numerous investment oppor-tunities for energy companies.

“The UAE is an important market for Turkey in terms of its exports of fruits, vegetables and animal products, and with fur-ther investment and closer rela-tions between our countries, Turkish food products could in the future play an important role in the UAE’s food security,” said Ayci.

The country is competitive, prosperous and open to investment

Potential investor’s first port of call

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It is an incredible story of a Turkish man who had a brilliant vision, and made it happen with just two trucks and a sharp organisational strategy. In 1978, Şahap

Çak started a logistics company with just two trucks, and today he is the President and CEO of Netlog Logistics Group and runs the international logistics firm with his son Gökalp, with a fleet of 2,150 trucks and 3,520 employees, as well as over 15,000

subcontractors vehicles as part of its logis-tics system.

Netlog Logistics owns 12 companies, in-cluding KTT Container Transport, also has subsidiaries for refrigerated transport solu-tions as the Intercombi Transport Company for transportation operations in Iraq, Af-ghanistan, Libya, Turkmenistan and Azer-

baijan. Netlog is responsible for the procure-ment logistics of the United Nations, and also carried food supplies for the Interna-tional Security Assistance Force (ISAF) in Afghanistan.

Netlog Logistics is constructing enormous warehouses in the Gulf countries and has plans for $250 million worth of investments in Turkey. The group aims for $550 million in revenue by 2015, is looking to buy other logistics companies, and planning to invest $25 million in the Gulf. In 2012, the group started building warehouses in Dubai, Abu Dhabi and Amman with hopes set high to dominate the logistics market of the Gulf.

“We load over 16,000 trucks every day and distribute to 81 cities of Turkey. We are also the largest liquid food transporter in Turkey, moving up to 250 bulk tankers a day. This proven track record is an excellent launching pad for our operations in the Gulf, especially in the UAE where large volumes of goods are moved everyday. We have the air freight, sea freight and land transport networks established to serve the Gulf with efficiency and speed,” says Gökalp Çak, Vice-Chairman of the Board of Netlog Lo-gistics Group.

In 2012, Netlog Logistics was named the top logistics and transport company in the Fortune 500 report of Turkish companies, for the fourth consecutive year.

Route to successFrom two trucks to 2000-truck logistics network, Netlog Logistics Group has become a name to reckon with

Sani Şener, President and group CeO of TaV Construction and its subsidiary TaV airports (airport management)

Ilker Ayci, President of ISPaT

We load over 16,000 trucks every day and

distribute to 81 cities of Turkey. We are also the largest liquid food transporter in Turkey, moving up to 250 bulk tankers a day

Gökalp Çak Vice-Chairman of the Board of netlog

Logistics Group

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Given their proximity to the Middle East, Turkish contrac-tors have constructed projects in the UAE to the value of $5 billion, including hotels, towers, villas and also proj-ects that need high level technical capacity, such as

metro transportation networks, airports, pipelines and other in-frastructure projects. One of the most successful Turkish contrac-tors, TAV Construction, was awarded the construction contract in June 2012, as part of a consortium, to build the Midfield Terminal at Abu Dhabi international airport, which is valued at $3.2 billion. It is the UAE’s largest ever construction contract and has given TAV assurance of its position as the ‘undisputed leader’ in the air-port construction business. This follows a 15-year track-record of building state-of-the-art airports in Saudi Arabia, Egypt, Turkey, Georgia, Macedonia, Libya, as well as the Dubai Emirates A380 hangars steel roof, and becoming one of the two contractors for the new Doha International Airport and Muscat International Air-port in Qatar. In Dubai, TAV also completed four high-rise proj-ects, including the Sharaf DG Shopping Mall (Al Sharaf) and the Majestic Tower (Al Mamzar).

“We believe in the rapid expansion of air services in the Gulf and we aim to participate in every feasible airport development project in the region in order to capitalise on this growth. The UAE’s aviation sector is thriving, and I believe that we will see a sustained growth in this industry witnessing an increased capac-ity of up to 400 million passengers,” said Sani Şener President and group CEO of TAV Construction and its subsidiary TAV Airports (airport management).

Şener has been leading the group since its formation in 1997, and has pioneered its expansion in the GCC since 2003, with $12.5 billion worth of contracts, and operating in 10 countries in the region. TAV can proudly boast of having completed three mil-lion square metres of projects to date, and has beaten its rivals to lucrative contracts though the use of its advanced technology as well as its highly adaptable and skilled workforce, as well as a good understanding of cultural commonalities.

Turkey has the world’s second biggest number of international construction contractors with projects worldwide worth $206 bil-lion in 94 countries, as well as having 30 of the top 225 construc-tion firms in the world.

15-year track-recordby winning UAE’s largest ever construction contract, TAV is assured of its position as the ‘undisputed leader’ in the airport construction business

Astay showcases OnaltiDokuz

Best-known as the hotel developers of the award-winning Four Seasons resorts ‘Sultanhamet” and “On the Bosphours” in Istanbul, astay yatirim have launched their first real-estate project “Onaltidokuz” (Sixteennine) which is billed to be one of the most modern and luxurious sea-side residential developments in Istanbul. The uS$175-million investment is located at Zeytinburnu and has 496 luxury apartments in three towers that are between 27 and 36 storeys each, together with a 25,000 square metre shopping and leisure area. apartments have a concierge service, and range from $ 5,000 – $ 11,000 per metre in price.

“We have been flooded with interest in Onaltidokuz. Prospective buyers have been able to view 3d visuals, so they can walk around their apartment with 3d glasses, and experience our unique concept of a harmonious living space. With our reputation as a Four Seasons resort developer, we have been able to give assurance to buyers that the prop-erties we sell rival the quality of the best hotels in the world, said atilla Öztürk , CeO and board member of astay yatirim.

With magnificent views of the Marmara Sea and the Bosphorous, the Onaltidokuz is located on a 30-acre stretch of land, 200 metres away from the sea, and within two minutes walk from a sea-taxi. The property has indoor and outdoor pools, a gym, restaurants, cafeterias, a spa, hair-dressing salons, an outdoor sports area and childrens’ playgrounds.

a new Turkish law came into effect in May 2012 which allows foreigners from all nationalities to buy prop-

erty in Turkey. Previously there was a principle of reciprocity, where only countries which allowed Turk-ish citizens to buy their property were allowed to buy in Turkey, which has swiftly been removed, resulting in an influx of new buyers. The government also decided to in-crease the amount of land a for-eigner can buy, from 25,000 square metres to 300,000. Also, you can register your property under your own name or a company name, and there are no restrictions for the number of units that can be pur-chased by an individual.

The Turkish real-estate market is booming due to the effects of this new law, as well as sustained eco-nomic growth, a good banking and mortgage system, as well as politi-cal stability in the country. Turkey’s Association of Real Estate Invest-ment Companies projects that in 2013, the value of property pur-chased by foreign nationals could be worth US$4billion. Further-more, there is a growing demand for luxury residential develop-ments, and these top-end flats in Istanbul are estimated to have in-creased to double their value during the last eight years, upwards of $4500 per square metre, with the main interest coming from the Gulf, Russia and Asia.

In the first six months of 2012 Turkey recorded the third-highest property price growth rate in the world, outranking Hong Kong and Russia. In 2011, Turkey issued building permits for 642,987 hous-ing units and 419,000 homes were sold. In the same year, foreigners purchased property to the value of $2.5billion.

Tahincioğlu: Green building with leeD recognition

Tahincioğlu real estate is a vigorous competitor in the Turkish real es-tate market, focusing on high-qual-ity retail developments including

office space as well as residential properties and first-class hotels. Tahincioğlu has developed projects covering over 1.5 million square metres and is currently working on two A-class office towers in Istan-bul, Nidakule Goztepe and Palladi-um Tower, certified under the LEED (Leadership in Energy and Environ-mental Design) Gold certificate American system, as well as a shop-ping centre in Hatay (Palladium Antakya) Turkey. Indeed, the com-pany proudly boasts to be the owner of the most Leed Gold certified buildings of Turkey, as it focuses its innovative development projects with green, natural habitat, where there is a healthy and sustainable balance between modern life and nature, including efficiency in en-ergy use and a focus on healthy and sustainable structures. Tahincioğlu was part of the Turkish delegation to the Dubai Cityscape Global 2012, where it showcased its world-class energy-friendly structures while also promoting real estate in-vestments in Turkey.

“We were proud to show the UAE market the best that Turkey has to offer in terms of sustainable living, office and retail spaces. We develop pioneering concepts for ‘green’ buildings, and this is particularly appropriate for Dubai, Abu Dhabi

Turkey’s buoyant real estate sector is booming due to the effects of new laws as well as sustained economic growth, a good banking and mortgage system

Conceiving a new order

Ant yapi: The sky is the limit

anthill residence, the tallest twin towers in Turkey, is the latest completed development from Turkish construc-tion group ant yapi, which has built most of the domestic and international projects for housing, hotels, business centres, shopping malls, and recreation centres, totalling more than 5.5 million square metres. anthill residence in the Sisli-Bomonti district has two towers of 60 storeys in 210 metres of building height, housing 804 flats, shops, indoor and outdoor swimming pools, a health club, recre-ational facilities and an indoor garage. The complex hosts the Fraser Place hotel apartments, and has apartments for sale and rental within its portfolio.

In 2011, ant yapi won the contract to build the $400 mil-lion Moscow City Plot 16 hotel and residence in Moscow for russian development specialist Capital Group, which is at 330 metres overreach height of the Shard in London becoming the tallest building in europe. The skyscraper will have 85 residential floors and 49 floors of office space. ant yapi delivered numerous contracts whose construc-tion space exceeded 5,500,000 square metres since its establishment.

“anti yapi specialises in the most challenging of high rise projects. We have built in the last 10 years 2,000 resi-dential buildings in Turkey, and 50,000 residential units in Moscow, in addition to many shopping malls, offices, schools and entertainment centres. We have 10 more proj-ects ongoing in russia, however, will be expanding our operations to the GCC in the future,” says Mehmet Okay, Board Member of ant yapi.

ant yapi is also building the Sochi Olympic Village re-sort Complex Project in russia, which has 120,000 square metres of gross construction area, 3,600 housing units, hotel rooms and apartments, along with administrative buildings, sports complex and social facilities.

“Turkey’s real estate sector has been growing very steadily over the years, and we see still a lot of room for growth during 2013. Turkey has become increasingly in-teresting market to invest for GCC nationals due to our good relations with the arab world,” says the Board Mem-ber of ant yapi, Mehmet Okay.

ant yapı continues to develop new projects with high IQ+eQ investments at home and high IQ commitments abroad by creating the best solutions to meet the de-mands of its friends whom it considers its business part-ners.

Mehmet Okay, Board Member of ant yapi

batışehir: ege yapi unveils massive plans

ege yapı Group has 35 years experience in Turkish construction and real estate, and owns İz yapı, aydoğanlar İnşaat. Besides it has international operations with its companies ege Iraq (Iraq) and MGy Saudia (Saudi arabia). The company has completed projects with more than one million square metres in housing, offices, shopping malls, educational institutions and even a 7-star hotel. Its latest crowning glory is the Batışehir residential settlement in Istanbul Bagcilar, which is europe’s biggest integrated projects offering sustainable living in an environmentally-friendly design. The climate is regulated by reflection pools, electricity in general fields are supported by ‘photovoltaic’ sun energy panels, and water saving is en-sured through collection of rainwater. not surprisingly the project has received an a-Class energy Certificate, where its 100,000 metre green-field area, will save the complex 40 per cent of energy.

“This is one of the largest and most exciting projects in Turkey, and in the entire region, as we will bring to life the hopes and dreams of several generations who believe in looking after the environment, using energy wisely, and at the same time enjoying the comforts of modern day life. This is Batışehir. We are making their dreams become a reality,” says İnanç Kabadayi, Chairman of the Board of ege yapi.

On completion in august 2013, Batışehir will include 3,143 residences, a city hotel, offices, a college, outdoor shopping market, club building, indoor and outdoor walking-running-touring tracks, sports halls, and will become a town where 15,000 people are expected to live. Prices for residences range from $95,000 to $700,000.

Özcan Tahincioğlu, Chairman and CeO of Tahincioğlu Group

İnanç Kabadayi, Chairman of the Board of ege yapi

Atilla Öztürk, CeO and Board Member of astay yatirim

and Masdar, that have been push-ing for most sustainable develop-ments, which would contribute to the UAE’s commitment to develop renewable energy and healthy liv-ing,” says Özcan Tahincioğlu, Chairman and CEO of Tahincioğlu Group.

The company’s ongoing projects are Antakya Palladium Shopping Centre, Palladium Shopping Centre in Ataşehir, Istanbul Finance Cen-tre office tower, Seyrantepe and Çengelköy housing projects, Nida Tower in Göztepe, Palladium Tow-er, İstanbul Finance Centre and the Nida Tower Levent office projects.

emlak konut: Developing the economic Hub of istanbul

With over fifty years of experience as one of Turkey’s best known prop-erty developers, Emlak Konut is the largest real estate investment trust (REIT) in Turkey, in terms of mar-ket value, real estate portfolio and land inventory. The state-owned

property developer operates with a private sector approach and has completed a total of 62,700 houses since 2003, when formed into a

real estate company. Emlak Konut is currently developing the Istanbul Financial Centre, the city’s first in-ternational finance centre, with construction beginning in January 2013, and expected to be complet-ed by 2016.The project includes a 2,500-seat conference hall, a mall, a five-star hotel, office buildings and residences.

“We are putting emphasis on di-versifying our real estate portfolio, and purchasing land with high de-velopment potential. The Istanbul Financial Centre project is a good example of our company’s vision to build the biggest and best contem-porary spaces that will have not just a regional, but a global impact as Istanbul grows as a colossal eco-nomic hub. We believe it is time that we become one of the biggest real estate investment companies of the world, and make our strong Turkish brand recognizable every-where. It may seem ambitious to-day, but we are already seeing one of the strongest evidences of our success, with the public offering of

Emlak Konut in 2010, when we be-came one of the five biggest public offerings of Turkey as a result of the huge demand,” say Murat Kurum, General Manager of Emlak Konut.

Kurum added that Emlat Konut’s strategy is to focus on developing housing for upper and middle in-come groups, as well as developing new regions as one of the fastest planned urbanization developers. For example, Emlak Konut is devel-oping the Maslak 1453 project near Istanbul, which will encompass 4,789 residences ranging from 55-square metre studios to 378- square metre four-bedroom loft du-plex apartments. Given that it is one of the largest projects in the Middle East, the opening of Maslak 1453 at the Cityscape Global 2012 in Dubai was honored by the Deputy Ruler of Dubai Shaikh Maktoum bin Mohammed bin Rashid Al Mak-toum. Murat Kurum, the General Manager of Emlak Konut, also not-ed: “The attention that Dubai showed made us very happy. I thank them very much for their pres-ence.”

Emlak Konut is currently developing the Istanbul Financial Centre, the city’s first

international finance centre, with construction beginning in January 2013, and expected to completed by 2016

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We were proud to show the UAE

market the best that Turkey has to offer in terms of sustainable living, office and retail spaces

Özcan Tahincioğlu

Murat Kurum, General Manager of emlak Konut

Turkey made history in December 2012 when it launched its first domes-tically produced earth

observation satellite, Gokturk-2, from a Chinese rocket. Turkish Aerospace Industries and Tur-key’s Space Technologies Re-search Institute, jointly devel-oped the satellite, ensuring that Turkey would become one of the 25 countries in the world that can develop its own satellite. The country is aiming to build its own launch in the future.

Turkish Aerospace Industries (TAI) has also pioneered other crucial defence projects, and is rapidly expanding its reach to the Middle East and Asia. It ranks among the top 100 global play-ers in aerospace and defence arena, partly due to its 25-year partnership with Lockheed Mar-tin, to build F-16 Fighting Falcon jets. In December 2012, as its contract came to an end, TAI handed over the last 50 F-16 fighter jets, making it a total of 308 planes built in Turkey.

TAI has entered into a new in-ternational partnership with Au-gusta Westland for the produc-tion of T-129 helicopters, with mass production starting in 2013. TAI shares the ownership of intellectual property rights of the newly designed attack heli-copters, and will be able to mar-ket the helicopter worldwide (apart from the UK and Italian markets). The company launched its own UAV technology in 2011, with drones that can fly to 1,000 feet altitude. Egypt is among the first to order the ANKA Medium Altitude Long Endurance un-manned aerial vehicles, with production starting in 2013.

“The ANKA has generated sig-nificant interest in the GCC, es-pecially in the UAE and Saudi Arabia. We expect to increase our market share in the UAV market against the US and Is-raeli competitors. The ANKA is built to NATO standards and is among the highest capacity sys-tems in its class. The UAV can conduct day and night intelli-gence, surveillance, and recon-naissance in all weather condi-tions,” says Muharrem Dörtkaşli, President and CEO of Turkish Aerospace Industries.

TAI also participates in pro-duction of the Airbus A400M military airlifter, supplies fuse-lage panels for A320 jets and will make ailerons or control surfaces on the future Airbus A350.

The Turkish defence market is expected to grow progressively, having earned revenues of $18.76 billion in 2012 and is es-timated to reach $24.70 billion in 2021, with a compound an-nual growth rate of 3.29 per cent between 2011 and 2020. Ac-cording to analysts at Frost & Sullivan, Turkey will potentially become a major exporter to Gulf Cooperation Council and Asso-ciation of Southeast Asian Na-tions.

soaring aheadTurkey has seen a rapid expansion in aerospace technology

Since its doors opened in 2009, Dubai Metro has revolutionised transporta-tion in the emirate. Turk-

ish railway specialist Yapi Merkezi was behind the construction of this mass transit system, the first in the Middle East. The project be-came possible with the help of a modern, fully automated and driv-erless technology as part of the Japan-Turkey Metro Joint Venture. It has since been showcased as a landmark project all around the world, becoming a symbol of Turkish engineering.

Other projects in the GCC are also succeeding and recently Yapi Merkezi secured a $2.1 billion contract to build Medinah and Meccah Stations of the Haramain High-Speed Rail Network of 450 kilometres in Saudi Arabia, as part of a consortium, in a network that will carry three million passengers a year, particularly the Hajj and Umrah pilgrims.

The company specialises in heavy construction and railway projects in Turkey and around the world, especially the UAE, Saudi Arabia, Sudan, Algeria, Morocco and Ethiopia. It has also complet-ed tunnels, bridges, viaducts, in-dustrial and general service build-ings, water collection and supply systems, restoration, strengthen-ing and repair works, and mass housing and city planning.

As the first and largest company of the Yapı Merkezi Group, Yapı Merkezi Construction and Industry Inc., in its half a century history, has realised the design and construction of a wide variety of buildings, heavy construction and railway projects both in

With dubai Metro under its belt, yapi Merkezi boasts of the world’s finest automated rail systems

Turkey and abroad.Construction of Dubai Metro

had started in August 2005 and, with its 75-kilometre length, it is the longest metro project ever constructed in the world under a single contract. The project is the first mass transit system in the Middle East and it was shown by Construction Week as one of the 10 most important engineering proj-ects constructed in the Arab World. Main contracting entity “Japan-Turkey Metro Joint Ven-ture” (Mitsubishi, Obayashi, Kaji-ma and Yapi Merkezi) has become the biggest Turkish–Japanese part-nership ever realised between Turkey and Japan.

“Yapi Merkezi will make history

as we will connect Europe and Asia, when we complete the new Bosphorous crossing of Istanbul Strait in Turkey. The Eurasia Tun-nel will have 5.4 kilometres of twin-deck tunnel 25 metres be-neath the seabed, and a further 9.2 kilometres above ground, link-ing Kazlicesme and Goztepe, in order to relieve the traffic load of the crossing for Istanbul’s 13 mil-lion inhabitants,” says, S. Özge Arıoğlu, Yapi Merkezi’s General Manager. Having completed 1,500 kilometres of railways and 275 stations in 34 projects, Yapi Merkezi prides itself in providing safe transport for millions of pas-sengers on a daily basis on three continents.

Yapi Merkezi will make history as we will connect Europe and Asia, when we

complete the new Bosphorous crossing of Istanbul Strait in Turkey

S. Özge Arıoğlu, yapi Merkezi’s General Manager Logistics Group

Modernising the region

Ground handling for the world’s busiest airports

Çelebi Ground handling carries the legacy of fifty-five years of ex-perience as Turkey’s first privately owned airport ground handing company, in recent years the company expanded into various global markets including Budapest, Mumbai, delhi, Frankfurt and Vienna, where it provides ground handling and/or cargo services. In 2012, Celebi reached a handling activity of c.250.000 flights, 600.000 MT cargo and 30 million passenger. Celebi is present at 35 airports throughout Turkey, India, austria, hungary and Germany. In 2006 its first operation outside Turkey started operations at Budapest Ferih-egy International airport. The success of this international venture with integrated services, led to further global business expansion with ground handling operations at Mumbai (Bombay) Chhatrapati Shivaji International airport through the CelebinaS joint venture.

Further business growth in India followed in 2010 with the com-mencement of Ground handling and Warehouse operations at delhi Indira Gandhi International airport. Meanwhile, in europe Celebi established a state of the art warehouse facility in Frankfurt Ger-many, with an approximate total amount of warehousing tonnage of 250.000mt. In 2011 Celebi further reinforced its presence in eu-rope with the provision of ramp and Passenger services at Vienna International airport. The company currently provides a variety of services such as ramp, passenger traffic, load control and communi-cation, cargo and mail, aircraft security services, executive aviation services, and warehouse and terminal operations in the most reliable and fastest way to the world’s leading airlines. Celebi has a rich port-folio of loyal global customers including British airways, air France, Lufthansa, Qatar airways, Turkish airlines, emirates, KLM, Saudian airlines and many others.

“Our services are based on the highest standards of business eth-ics. We are pioneering innovations in the service sector, and creating synergies for a variety of integrated systems within ground handling with our more than 13500 employees. We have established long-lasting partnerships with european and asian partners, and aim to expand our services to other markets such as the GCC,” says Canan Çelebioğlu , deputy Chairman of Çelebi holding.

Çelebi holding Chairman Can Çelebioğlu and, deputy Chairman Canan Çelebioğlu were named the joint winners of “World entrepre-neur of The year” competition organized by ernst & young, Milliyet, and Cnn Türk in 2009, as “entrepreneurs who recognize no obsta-cles”. Çelebi Ground handling becomes a founding member of aVI-anCe, helping to create the international organization of indepen-dent ground handling companies.

Our services are based on the highest standards of business ethics. We are

pioneering innovations in the service sector, and creating synergies for a variety of integrated systems within ground handling with our more than 13500 employees. We have established long-lasting partnerships with European and Asian partners, and aim to expand our services to other markets such as the GCC

Canan Çelebioğlu Tokgöz

deputy Chairman of Çelebi holding

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The ANKA has generated significant interest in the GCC, especially in the

UAE and Saudi Arabia. We expect to increase our market share in the UAV market against the US and Israeli competitors. The ANKA is built to NATO standards and is among the highest capacity systems in its classs

Muharrem Dörtkaşli,

President and CeO of Turkish aerospace Industries

TAI has entered into a new

international partnership with Augusta Westland for the production of T-129 helicopters, with mass production starting in 2013

Turkey is the second larg-est producer of steel in Europe, and 10th in the world, which is exported

primarily to neighbours in the Middle East, North Africa, and the Balkans, with competitive pricing driving infrastructure de-velopment in the region. Turkey exported $14.32 billion worth of steel and steel products in the first 11 months of 2012, which is an increase of 3.09 per cent over the same period in 2011, indicat-ing that the end of 2012 target of $15.7 billion could be achieved. Turkey is the world’s largest ex-porter of reinforcing bar (rebar) for construction, and is one of the fastest growing steel-producing markets, expected to grow in ex-ports to $55 billion for the year 2023.

The Middle East is Turkey’s largest destination for steel ex-ports, receiving 7.4 million tonnes in 2012, followed by the EU countries with two million tonnes and by North Africa with 1.9 mil-lion tonnes. Half of the steel used in building Burj Khalifa in Dubai was Turkish steel, as well as the Dubai Metro project, the Heath-row Airport terminal extension, the Baku-Tbilisi-Ceyhan crude oil pipeline as well as in the manu-facturing of cars by Toyota Co-rolla and Verso, Honda Civic and City, Hyundai Accent and Matrix, Renault Megane and Clio, Fiat Albea, Palio Doblo and Linea.

kroman Çelik sanayii

Kroman Çelik Sanayii has been producing and marketing steel and iron products and semi-products since 1966. Its production line consists of two electrical arc furnaces, as well as ladle furnace and two six strand CCM, with a total annual capacity of approximately 1,100,000 tonnes. It has one of the most technologically advanced rolling mills for long products in Turkey. Kroman became an approved steel producer in Dubai in 2006, and has been doing business with the UAE ever since.

“Turkey’s position in the Ae-gean Sea and our proximity to Gulf, means we can respond to demand for steel products quickly and we deliver on time. We have world-class infrastructure which enables us to get steel faster to the

market,” says Sermet Hatunoğlu, General Manager of Kroman Çe-lik Sanayii.

Kroman’s port facility is one of the largest dry cargo terminals in Marmara Seas where up to 60,000 DWT vessels can be berthed. “Our port is capable of handling scraps, ferro alloys, iron, briquetted iron, every kind of re-inforcing steel bars, steel billets, every kind of steel plates, coils, profiles, pipes, agriculture prod-ucts, paletised cargoes, coal, tim-bers, lumbers and general cargoes for loading and unloading,” said Sermet Hatunoğlu, General Man-ager of Kroman Çelik Sanayii.

Çebitaş

ÇEBİTAŞ Steel Industries has been producing steel billets and steel bar in its steel plant, which was built with Swedish technolo-gy in 1989, in its rolling mill and melt shop in the Aliağa Nemrut heavy industrial area. The com-pany is one of the 100 largest companies in Turkey and exports to South America, North America, Europe and Africa and especially focuses on the Far East and Mid-dle East markets.

“We are conscious that quality of steel bars are vital to our

customers and we have rigorous physical and chemical analysis in our laboratories to test and present to our customers the very best quality standards which we produce,” says Fatih Ismail Çebi, Managing Director and Board member of ÇEBİTAŞ Steel Indutries.

He adds that ÇEBİTAŞ has put its energy into ensuring an envi-ronmentally friendly operation according to the highest global standards. Seeing the productivity and economy of the integrated plants, ÇEBİTAŞ started produc-tion in the rolling mill unit that was modernised with the ABB Technology bought from France. After this process, the rolling mill plant increased its capacity to 120 tonnes/hour with the Italian tech-nology furnace ‘Forni e Combus-tione’ in 2009.

İÇDAŞ

As the biggest private sector steel producer in Turkey, producing steel bars and high alloy steels,

İÇDAŞ has become a pioneer in its sector by constantly improving its technology and quality since 1962. It has evolved from the time of its formation by the Aslan family in 1880 as a ship repair and servicing firm, to become a major player in steel exports around the world, with a labour force of 10,000.

“While our focus is on steel production, we are also involved in ship construction, as well as building wind power, hydroelec-tric power and coal power plants. We are continuously expanding our steel export markets and are open for business with new clients in the UAE, with very competitive prices,” says Adnan Aslan, mem-ber of the İÇDAŞ board.

In 2011 the Istanbul Chamber of Industry ranked the company as the ninth out of the top 500 en-terprises of Turkey. İÇDAŞ has built an integrated production fa-cility that was awarded Turkey’s first “Environmental Permit and Licence” in compliance with the European Union environmental legislation.

Turkish steel is at the heart of major UAE buildings

Steering the region forward

Çolakoğlu Metalurji

Çolakoğlu Metalurji is one of the biggest manufacturers and suppliers of steel and iron products for construction projects in Turkey, which are exported internationally and reputed for the highest quality stan-dards. Çolakoğlu Metalurji is also well known for bringing state-of-the-art technologies to Turkey by investing in a new meltshop and rolling mill for flat products in 2007. at the time the meltshop was commissioned, it had the world’s largest electric arc furnace, mod-ernised by Siemens, and today it is one of the most productive in the world. The steel producer also made the first hot-rolled strip invest-ment of the private sector in Turkey, and has continued to invest in new technologies in order to maintain its position as a pioneer in this industry.

“although in the 2011-2012 period the demand for steel products slowed down in europe as a result of the economic downturn, and also in some countries of the Middle east due to the crisis in Syria, I believe the demand will pick up in the coming year in the GCC, where growth in the construction sector is still healthy,” says ugur dalbeler, CeO of Colakoglu Metalurji, and also the Vice-President of Turkish Iron and Steel Producers’ association.

With its focus on establishing long-term relationships with its cus-tomers, Çolakoğlu Metalurji has always been one of Turkey’s most reliable and highest quality industrial companies. It has always taken steps to improve both itself and the sector.

“The steel and iron products manufactured in our facility which includes one of the largest electric arc furnaces in the world are used in the most important architectural projects around the world,” says ugur dalbeler, CeO of Colakoglu Metalurji.

The company is registered for delivery in warehouses monitored by the London Metal exchange, and has the ISO 9001 quality certifi-cate, as well as similar quality assurance certificates from Germany, the uK, netherlands, Spain, Italy, Portugal, Bulgaria, hungary and romania.

Turkey’s position in the

Aegean Sea and our proximity to the Gulf, means we can respond to demand for steel products quickly and we deliver on time. We have world-class infrastructure which enables us to get steel faster to the market

Sermet Hatunoğlu General Manager of Kroman

Çelik Sanayii

We are conscious that

quality of steel bars are vital to our customers and we have rigorous physical and chemical analysis in our laboratories to test and present to our customers the very best quality standards which we produce

Fatih Ismail ÇebiManaging director and Board

member of ÇeBİTaŞ Steel Industries

We are continuously

expanding our steel export markets and are open for business with new clients in the UAE, with very competitive prices

Adnan AslanMember of the İÇdaŞ Board

Ugur Dalbeler, CeO of Colakoglu Metalurji and also the Vice-President of Turkish Iron and Steel Producers’ association

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Turkey is the world’s largest

exporter of reinforcing bar (rebar) for construction, and is one of the fastest growing steel-producing markets, expected to grow in exports to $55 billion by the year 2023

ancient cities, exquisite coastline resorts, unri-valled Mediterranean and Middle Eastern cuisine,

and lavish bazaars, make Turkey an irresistible holiday destination. You will undoubtedly be mes-merised as you walk in the foot-steps of Turkey’s 3,000 years of civilisation, catching a glimpse of the cultural imprints of the Greeks, Romans, Byzantines, Mongols, and the Ottomans, or maybe you will prefer to luxuriate in the Turk-ish baths, the Hamams, and then spend hours enraptured in the ulti-mate shopping experience of the Grand Bazaar of Istanbul.

According to travel agencies TUI AG and Thomas Cook, 11 of the 100 best hotels of the world are located in Turkey. The coun-try has a competitive choice of ac-commodation from the ultra-modern complexes to the historical treasures of bygone eras. It is then no wonder that Turkey has become one of the most popular world tourism desti-nations, and expected 30 million tourist arrivals in 2012, mainly European travellers, as well as an increasing number of tourists coming from the UAE. In 2011, 35,000 UAE citizens visited Tur-key and a further 60,000 expect-ed in 2012 as Turkey becomes an increasingly popular destination for Emirati tourists, especially those seeking to relive the life of a sultan in the luxurious palaces of the Ottomans.

Part of Turkey’s tourism success story is Turkish Airlines, which is

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Turkey is a blend of ancient pleasures and modern delights

Living like a Sultan

Our target is to link Istanbul to every destination in the world in 10 years time,

and give the passenger the best options for travel. We believe that we should be the first option for any traveller wishing to go from Europe to the Middle East, Africa and eveninto Asia

Dr Temel Kotil The President and CeO of Turkish airlines

romanced by the Ottomans

hotel Les Ottomans is charming boutique hotel, set in the opulent backdrop of restored Ottoman palace in Istanbul on the shores of the Bosphorus. The hotel offers the romance and magic of a by-gone era in luxury rooms, together with a spa with a hammam and hot tub, two pools, as well as a private jetty. With only 10 suites, the emphasis on personalised service in luxurious ambiance has won the hotel World Travel awards every year since 2007, rang-ing from titles such as “europe’s leading Boutique hotel” to the exceedingly prestigious “World’s Leading all Suite hotel and Spa” in 2012.

at the hotel Les Ottomans, you will meet its owner and General Manager, ahu aysal Kerimoğlu, one of Turkey’s most successful and undeniably most glamorous businesswomen. having won many awards as a businesswoman in her own right, she made headlines in 2012 as it was announced that she would be the first Turkish space tourist in 2014, after purchasing a $95,000 ticket for the unique experience. “Turkey is experiencing a boom in tourism, especially in the luxury market. Istanbul is incredibly popular now. It’s very trendy to come here. I travel to new york twice a year for up to two months. everybody there is crazy about Istanbul. I am also meeting more guests from the Middle east. everyone wants to experience the lifestyle of an Ottoman pasha,” says Kerimoğlu.

Kerimoğlu adds that Istanbul was named 2010 european Capi-tal of Culture in 2010 by the european union, which boosted its reputation as a tourism capital.

today known as Europe’s best air-line, after winning the title at the 2012 Skytrax World Airline Awards for the second year run-ning. One of the fastest growing airlines in the world, Turkish Air-lines flies to 200 destinations in-cluding Dubai and Abu Dhabi, as well as cities in Europe, Asia, the Middle East, Africa, North and South America. Turkish Airlines continues to distinguish itself as a unique brand, not only popular with the star footballers of Man-chester United, the UK football team it sponsors, but has also in-troduced a ‘flying chef ’ on board its flights to prepare meals for its first and business class passen-

gers, as well as ensuring lie-flat seats, and international Wi-fi. With its emphasis on fine dining, the airline’s new Business Class lounge at Istanbul airport has opened with a delicious array of Turkish delicacies, including a ke-bab and mezze bar, and a delecta-ble dessert station.

In October 2012, Turkish Air-lines ordered 15 new A330-300’s from Airbus, becoming its seventh order, and a symbol of its rapid expansion plans. Last year the air-line flew 32.6 million passengers and has a projected target of 38 million for 2012. Further aggres-sive growth is expected as a third airport will be built in Istanbul by

Part of Turkey’s tourism success

story is Turkish Airlines, which is today known as Europe’s Best Airline, after winning the title at the 2012 Skytrax World Airline Awards for the second year running

Ahu Aysal Kerimoğlu, Owner and General Manager, hotel Les Ottomans

2016, to become one of the larg-est airports in the world with up to six runways and a passenger ca-pacity of 100 million in the short term, and later expanded to 150 million. The President and CEO of Turkish Airlines Dr Temel Kotil says this will reinforce Istanbul’s status as an international hub, conveniently located at the door-step of Europe, Asia and the Mid-dle East.

“Our target is to link Istanbul to

every destination in the world in 10 years, and give the passenger the best options for travel. We be-lieve that we should be the first option for any traveller wishing to go from Europe to the Middle East, Africa and even into Asia. The idea is that travellers will check Turkish Airlines connec-tions first, because we have a strong network and the best repu-tation for comfort and service in the air. As we implement our in-

ternational hub, we will ensure that Istanbul will be the capital of the airline business,” says Dr Te-mel Kotil.

Dr Kotil is buoyant about the future as he steers the company towards greater heights in avia-tion growth. In November 2012, Turkish Airlines saw its net prof-its in the first three quarters of the year take a phenomenal leap to TL 868 million ($480.8 million), representing a 655 per cent in-crease over the same period a year ago.

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