Page 98 - TURKRptDec19

Pegasus operated charter flights since 1991. Following its acquisition by Esas Holding at the beginning of 2005, Pegasus changed its business model, introducing a low-cost network carrier model for the first time in Turkey. In 2013, the company held an initial public offering (IPO) to sell a 34.53% stake.
Pegasus has a 49% stake in Kyrgyzstan’s Air Manas.
● Istanbul Airport
A consortium made up of local companies Kalyon, Cengiz, Mapa, Kolin and Limak won a tender back in 2013 to build and operate the airport.
Kalyon Insaat now owns 35% and Cengiz Insaat 25% of the airport business after Kolin Insaat sold its 20% stake earlier this year. Limak and Mapa each retain a 20% stake.
● Others
Bulgaria's National Railway Infrastructure Company (NRIC) said on November 27 that it has signed a BGN498.8mn (€255mn) deal with a consortium of Turkish companies Duygu Muhendislik Insaat and Cengiz for the modernisation of the Elin Pelin-Vakarel railway section​.
9.2.4 ​Construction & Real estate corporate news
Turkish investors will build a new shopping centre worth $30mn in Kazakh capital Nur-Sultan​ supported by the Kazakh Invest national investment promotion company, Kazakh Invest said. The project will be greenlit after the expected signing of a memorandum between the Kazakh company and Turkey’s Kayaturk Group.
Construction and installation works are scheduled to begin in April 2021 - the covered area of the three-storey facility will be about 40,000 square metres. Currently, Turkey ranks second in the number of operating foreign companies in Kazakhstan
“Given the level of profitability in the country and the number of large cities, we are planning additional investments in four shopping centers with a total area of 70,000 to 100,000 m2. In addition, among the group’s activities, the research is ongoing to enter the sector to construct residential, hotel, commercial and non-residential buildings,” said Atilla Atmaca, general director of Kayaturk Group.
Turkey’s Cengiz is expected to win the tender to build the second tube of Slovenia’s Karavanke tunnel​ that leads to Austria, after placing the lowest bid for the project, media reported on December 3. The official decision still has to be announced by Slovenian motorway company DARS.
The agreement with Cengiz is expected to be signed by the end of the year and works to start no later than March 2020.
According to unofficial information, Cengiz offered to build the tunnel for €94mn, which is lower than the initial offer of €99.6mn.
A consortium of Kolektor CGP, Riko and Turkey's Yapi Merkezi offered a price of €121mn while the bid from the tie-up of Implenia Osterreich, Implenia Switzerland and CGP Novo mesto was €121.5mn.
98​ TURKEY Country Report​ December 2019 ​ ​www.intellinews.com