THE PAST, THE PRESENT AND FOREVER

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1 2013 ANNUAL REPORT THE PAST, THE PRESENT AND FOREVER 1969>2014>

2 Contents At a Glance 2 Key Indicators in Major Developments in Tepe İnşaat in Brief 12 Vision, Mission and Corporate Values 14 Key Financial Indicators 16 Subsidiaries and Affiliates 18 Bilkent Holding 22 A 45-Year History Dedicated to Creating Long-Term Value 48 Message from the Management 50 Board of Directors, Senior Management and Board of Auditors Operations in Business Development and Operation Map 54 Contracting Projects (Domestic) 61 Contracting Projects (Overseas) 66 Investment Projects 70 TAV Havalimanları (TAV Airports) 90 TAV İnşaat (TAV Construction) 96 İDO (Istanbul Sea Buses) Sustainability 104 Human Resources Policy 108 Occupational Safety, Environmental and Quality Policy 110 Bilkent University Financial Statements 115 Independent Auditors Report, Financial Statements and Footnotes

3 The Past... We commenced our operations in 1969 in a workshop under the name Tepe Ağaç Metal where we performed various modifications and remodeling related work. We started out only with big dreams and a drive to succeed. Upon completion of the restructuring of Tepe Group in 1986, we continued on our journey of success as a subsidiary of Bilkent Holding. The Present As the flagship company of Bilkent Holding, we are also widely recognized as one of the pioneering and innovative enterprises in the construction industry both in Turkey and the world, thanks to our strong financial structure, long-established experience and sound corporate reputation. We continue to build exemplary structures and add significant value to life. And Forever Backed by all the buildings we pass on to future generations and our well-skilled human capital, we look toward the future with hope. With the objective of creating lasting value, we leave our mark on every area of modern life. We are working and producing continuously as time passes by to build the future of tomorrow, today.

4 Key Indicators in th Place on the ENR Top 250 List Having strong brand value with development projects completed both domestically and abroad, Tepe İnşaat ranked 188th on the 2013 ENR Top 250 list of the world s leading international construction companies. 1,285,282 Equity Size (TL Thousand) Having gained prominence with its successful financial performance in parallel to its long-established corporate culture, Tepe İnşaat increased its equity to TL 1,285,282 thousand in A-(Trk) Long-term National Rating of Bilkent Holding On May 29, 2013, JCR Eurasia Rating confirmed the long-term national rating of Bilkent Holding as A-(Trk). 1,752,592 Total Assets (TL Thousand) With a sustainable performance, Tepe İnşaat assets totalled TL 1,752,592 thousand. Investment Project Indicators 609 As the Company s second residence development project in the Istanbul- Maltepe region, Narlife consists of 609 housing units built on a tract with 60% designated greenspace. Construction work is currently ongoing and the Company expects to deliver the units in 2014 and Tepe İnşaat entered into a cooperation agreement with Mesa Mesken for the Park Mozaik development project, which consists of 885 residential units to be built on a 76,000 m2 tract in Yaşamkent, Ankara, The Company plans to commence construction on Park Mozaik in Tepe İnşaat 2013 Annual Report

5 Major Developments in 2013 Tepe İnşaat continued on its journey of success Ranking 188 th on the 2013 ENR Top 250 list of the world s largest construction and contracting companies, Tepe İnşaat continued to create significant value for its shareholders, in particular Bilkent University, with the Company s successful projects developed both in Turkey and abroad. With several high-profile developments, including shopping mall, residence and industrial facility projects, completed in Turkey s major cities such as Istanbul and Ankara as well as in the Russian Federation and Turkmenistan, the Company continued to set the quality standards for the construction sector. At a Glance 3

6 Major Developments in 2013 Narlife Project is nearly complete In 2013, construction work for the Narlife development, built on the last and most valuable tract in the Maltepe region of Istanbul, next to the Narcity and Narkule projects, was carried out at a fast pace. Work on the project commenced in September 2012 and the Company plans to complete and deliver Block C in March 2014, one year before the scheduled completion date; meanwhile, the housing units in Block A and B are planned to be 4 Tepe İnşaat 2013 Annual Report

7 delivered to clients in March Surrounded by natural pinewoods and enjoying a view of the Princes Islands, Narlife is distinguished by its vast green area, which covers 60% of the total development, and its proximity to major highways. Located 3 km from the E5 highway, 5 km from the coastal road, 6 km from the TEM Highway and 20 km from Sabiha Gökçen Airport, thus offering easy access to the city s main arteries, Narlife is aimed at the B+ residence customers group. At a Glance 5

8 Major Developments in 2013 First Project in Turkmenistan Completed As of end-2013, Tepe İnşaat s silo reinforcement work contracted in various provinces of Turkmenistan was complete. Having successfully completed numerous construction and contracting projects over the years in a broad geographic area, extending from the Russian Federation to the Gulf countries, the Company carried out silo construction and rehabilitation in 2013 in eight Turkmenistan provinces (Altınsahra, Tejen, Babadayan, Karakum, Garıssızlık, Sparmyrat, Boldumsaz, Beyik). With the completion of the bakery oven, pasta production and packaging production facilities in Turkmenistan s Turkmenabad, Ruhabad, Serdar, Mary and Daşoğuz provinces during the year, the Company aims to complete construction of eight different silos with total capacity of 360,000 tons, located in eight of the country s provinces (Altınsahra, Tejen, Babadayan, Karakum, Garıssızlık, Sparmyrat, Boldumsaz, Beyik) in President of Turkmenistan attended the opening ceremony... The Mary and Turkmenabad flour plants, important components of the silo reinforcement project completed by Tepe İnşaat in Turkmenistan during 2013, became operational on September 5, 2013 following a celebrated opening ceremony. Turkmenistani President Gurbanguli Berdimuhamedov, along with other leading government officials attended the inauguration of Mary Flour Plant, which has a 150 thousand ton wheat storage capacity and annual flour production capacity of 130 thousand tons. 6 Tepe İnşaat 2013 Annual Report

9 2013 Best Investment in Russia Award Presented to Coşkunöz LLC Plant The Coşkunöz Alabuga LLC Plant investment, for which Tepe İnşaat performed the contracting design and construction, was awarded the 2013 Best Investment in Russia prize from the Russian Automotive Forum. With this plant investment, constructed on a 12,000 m 2 tract in the city of Yelebuga, Tartarstan Republic, Russian Federation, Coşkunöz Alabuga LLC plans to commence production operations for the automotive sector. This project, which received widespread recognition across Russia for its high quality standards, once again demonstrated the Company s experience and know-how in the construction of and contracting for industrial facilities. At a Glance 7

10 Tepe İnşaat in Brief Shareholding Structure (%) Bilkent Holding A.Ş. 85.9% Tepe Emlak Yatırım İnş. A.Ş. 13.3% Other 0.8% 8 Tepe İnşaat 2013 Annual Report Tepe İnşaat has conducted its operations for 45 years in the construction industry, a leading sector that plays a key role in the development of the nation s economy, directly through value creation and indirectly through support to sub-sectors. The Company completed various projects in 2013, all befitting its strong brand and market reputation. Focused on creating significant value for all stakeholders, and especially for its major shareholder Bilkent Holding A.Ş., the Company has bolstered its pioneering position in the construction industry thanks to domestic and overseas projects that are designed to meet the rapidly changing needs of the modern world. Tepe İnşaat abides by Bilkent University founder Prof. Dr. İhsan Doğramacı s philosophy Further, toward the best. To this end, the Company s portfolio of high-profile projects include housing developments; shopping malls; office complexes; healthcare facilities; educational facilities and campuses; sports and recreational facilities; hotels; military facilities; power plants and industrial facilities; transportation infrastructure and roads; religious facilities; urban infrastructure; pipelines and water supply infrastructure; renovation and pre-engineered projects. The Company plans to develop further in the coming period and continue setting the standards for quality in the sector. Driven by its well-skilled human resources and wellestablished brand reputation, Tepe İnşaat reported registered capital of TL 780,000,000 as of December 31, Company Shareholders Tepe İnşaat Sanayi Anonim Şirketi Share Class TL Participating Share (%) Bilkent Holding A.Ş. A 1 0 Bilkent Holding A.Ş. B 669,765, Tepe Emlak Yat. İnş. A.Ş. B 104,000, Tepe Savunma ve Güv. Sis. A.Ş. B 5,672, Tepe Home Mob. Dek. Ürün San. ve Tic. A.Ş. B 562,

11 At a Glance 9

12 10 Tepe İnşaat 2013 Annual Report

13 At a Glance 11

14 Vision, Mission and Corporate Values Vision To provide resources to Bilkent University, the principal shareholder, and make a tangible contribution to national education; To provide added value to the national economy by producing and generating employment; To pursue its activities with respect for ethical values, in order to survive, and be trustworthy, in accordance with its mission and vision of becoming a leading company across different business lines, and on a global scale, and of establishing a presence in diverse geographical regions. Mission To create the necessary resources for Bilkent University to continue developing and growing; To make a contribution to Turkey s future by transferring the values and resources it created at the establishment of Bilkent University, Turkey s first foundation university and one of the country s most distinguished educational institutions; To focus on success in each project undertaken for each new client, whether it is an institution or an individual, without compromising on quality, with complete confidence in its human resources, by considering environmental sustainability and by incorporating global technological developments and contemporary demands; To introduce innovations to the industry while developing a variety of construction projects in both Turkey and abroad. 12 Tepe İnşaat 2013 Annual Report

15 Corporate Values Possessing a Sense of Responsibility To be aware of its responsibilities towards customers, employees and suppliers, as well as to the environment and the wider community. To undertake only the services it is capable of offering under turnkey infrastructure projects, as well as investment projects, from concept design to final delivery, including land, funding, design, construction and marketing phases, and to execute all contracts comprehensively. Adhering to Ethical Values and Laws To adhere to ethical rules and laws to the fullest extent in striving towards best service and product quality in its field of activity, observing competition, efficiency and profitability. To comply with all laws and regulations applicable in the national, as well as overseas regions where projects are implemented. Being Customer Satisfaction Oriented To ensure continuous customer satisfaction by taking into consideration evolving and growing customer expectations. To establish clear and transparent communication with customers, while providing services in a timely manner according to its commitments. Creating Global Value To contribute to the environmental, economic, social and communal development of each region where the Company s projects are realized. Sharing the Success To share the successes attained with its employees, customers, business associates and the community. At a Glance 13

16 Key Financial Indicators Balance Sheet Figures (TL Thousand)(*) A-Current Assets 872, ,423 B-Fixed Assets 920, ,169 Total Assets 1,793,143 1,752,592 A-Short-term Foreign Liabilities 296, ,205 B-Long-term Foreign Liabilities 221, ,104 C-Shareholders Equity 1,274,792 1,285,282 (*) Prepared according to the stand-alone financial statements. Income Statement Figures (*) Net Sales 116,325, ,158,998 Cost of Sales (-) 88,476, ,501,477 Gross Sales Profit or Loss 27,848,860 5,657,521 Operating Expenses (-) 16,383,829 5,528,507 Operating Profit or Loss 11,465, ,015 Revenues and Profits from Other Operations 95,855,325 94,693,747 Expenses and Losses from Other Operations (-) 37,680,414 24,708,426 Financial Expenses (-) 30,987,494 13,895,693 Ordinary Profit or Loss 38,652,448 56,218,643 (*) Prepared according to the stand-alone financial statements. 32% Net Sales (TL thousand) Tepe İnşaat posted net sales of TL 157,158 thousand in , , Tepe İnşaat 2013 Annual Report

17 Liquidity Ratios (*) Current Ratio Acid Test Ratio Cash Ratio Operating Ratios (*) Accounts Receivable Turnover Rate Debt Collection Period Current Assets Turnover Ratio Net Working Capital (TL) 575,730, ,217,971 Net Working Capital Turnover Ratio Tangible Fixed Assets Turnover Ratio Total Assets Turnover Ratio Equity Turnover Ratio Financial Leverage Ratios (*) Financial Leverage Ratio Financing Ratio Ratio of 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 Pursuant to the Public Procurement Law (*) Current Ratio Ratio of Equity to Total Assets Ratio of Short-term Financial Liabilities to Total Equity (*) Prepared according to the stand-alone financial statements. At a Glance 15

18 Subsidiaries and Affiliates (as of ) Company Name Total Capital Participation Participation Amount Share Ankara Teknoloji A.Ş. 9,600,000 1,106, Antepe Sağlık ve Turz. Hizm. Tic. Danş. A.Ş. 3,000,000 2,975, Artı Döviz A.Ş.(*) 2,500,000 1,225, Azerkörpü Tepe M.M.C.- Azerbaijan Batı Karadeniz Elektrik Dağıtım A.Ş. 1,400, , Bilenerji A.Ş. 30,550,000 4,530, Bilan Bilkent Ankara Tepe Otel A.Ş. 5,500,000 2,694, Bilbak Bilkent Bak. A.Ş. 500, , Bilintur A.Ş. 57,500,000 21,500, Bilintur Kültür Turizm Yat. ve Tic. A.Ş. 100,000 49, Bilen Bilkent Enerji Yat. A.Ş. 1,150, Bilsigorta A.Ş. 1,000, Bitu Turizm ve İnşaat Yatırım A.Ş. 50,000 2, C.B. Spolka Zograniczona Odp.-Poland 7,843,277 2,221, Dafne Ege Döviz Ticareti A.Ş. 1,000, Dilek İnşaat A.Ş. 22,000,000 2,968, Esenboğa Ankara Döviz Ticareti A.Ş. 1,000, Hyper Foreign Trade - Holland 137,019 73, Kirazlı Konutları Adi Ortaklığı 10,000 2, Knauf İnşaat ve Yapı Elm. A.Ş. 208,719,293 4, Meteksan Matbacılık A.Ş. 90,000,000 5,864, Tepe İnşaat 2013 Annual Report

19 Meteksan Savunma A.Ş. 10,000, , Optisis İletişim ve Bilgi Teknolojileri A.Ş. 300,000 3, Park Villa İnşaat ve Turizm A.Ş. 500, , Pft Sıva Sistemleri A.Ş. 15, Sports International A.Ş. 26,000,000 21,888, İdo İst. Deniz Otobüsleri San. ve Tic. A.Ş. 210,900,000 63,270, Tav Esenboğa Yatırım Yapım ve İşl. A.Ş. 241,650, Tav Havalimanları Holding A.Ş. 363,281,250 29,273, Tav Yatırım Holding A.Ş. 100,500,000 24,346, Tepe Betopan A.Ş. 26,000,000 19,200, Tepe Emlak Yatırım İnş. ve Tic. A.Ş. 225,000, ,047, Tepe Home A.Ş. 80,000,000 64,497, Tepe İnşaat ve Ticaret (Kıbrıs) Limited 145, , Tepe Mesa Adi Ortaklığı 1,000, , Tepe Metag Adi Ortaklığı 50,000 25, Tepe Nacap İş Ortaklığı Tepe Prefabrik İnşaat Sanayi ve Tic. A.Ş. 12,000,000 10,213, Tepe Savunma ve Güv. Sist. A.Ş. 30,000,000 18,779, Tepe Servis ve Yönetim A.Ş. 6,000,000 1,039, Tepe Tesan Adi Ortaklığı 100,000 60, Tepe Türkmen A.Ş. 1,000, , (*) On March 27, 2014, the Company completed the transfer of all of its Group A shares in affiliate Artı Döviz Ticaret A.Ş. with a value of TL 912,500 to Travelex Group Investment Ltd. for the amount of USD 19,345,000. At a Glance 17

20 Bilkent Holding Bilkent Holding companies are leaders in their respective industries, in terms of turnover and market share, thanks to their innovative management approach. 18 Tepe İnşaat 2013 Annual Report Bilkent Holding s foundation began with Dilek İnşaat, established by İhsan Doğramacı in 1968 to operate in the construction industry; one year later, Tepe Ağaç Metal ve Makina Sanayi and Meteksan were founded. During a fundamental restructuring in 1986, these companies were gathered under the roof of Bilkent Holding. Focused on creating significant value for partners and stakeholders since its inception, Bilkent Holding has always prioritized customer satisfaction, profitability and excellence in quality in all industries in which it operates. Conducting operations within a broad range of industries that include construction, furniture retailing, printing and paper production, real estate and airport management services, Bilkent Holding has extended its deep-rooted experience and know-how to international markets, with operations in the Middle East, North Africa, Turkic Republics, Eastern Europe and Russia. While working to further expand its operating area and geographic reach, Bilkent Holding currently ranks among the 50 largest corporate groups in Turkey, according to both domestic and international business information sources. Bilkent Holding companies are leaders in their respective industries, in terms of turnover and market share, thanks to their innovative management approach. Tepe İnşaat, Bilkent Holding s flagship company in the construction industry, continues to undertake projects both in Turkey and abroad, introducing innovations without compromising on quality. In addition, the high quality standards and strong brand image attained by the Tepe brand in construction were transferred to the furniture and retail industries, expanding the Holding s field of operations. While Tepe Mobilya produces tailor-made designs to achieve high levels of customer satisfaction, Tepe Home undertakes the marketing/sales efforts for Tepe Mobilya products. Tepe Home also introduced the mass merchandising concept to the Turkish furniture market, and is the innovative force in the sector.

21 At a Glance 19

22 Bilkent Holding Tepe Emlak continues to create venues that become centers of attraction thanks to the experience and know-how it has gained since institutionalization started in the shopping center sector. 50 Among Turkey s 50 Largest Corporate Groups Bilkent Holding ranks among the 50 largest corporate groups in Turkey according to domestic and international business information sources. Bilkent Holding is rapidly expanding its operations in the furniture and retail industries, transferring the high quality standards and powerful brand image gained with the Tepe brand in the construction industry. Tepe Home Mobilya produces and sells tailor-made designs to achieve high-level customer satisfaction. As the leading innovative brand in the industry, Tepe Home Mobilya has introduced the megastore furniture retailing concept to Turkey. Meanwhile, Meteksan Matbaa is a significant player in the printing-paper industry with an annual production capacity of nearly 100,000 tons; the company is widely known for its product range and diversity. Tepe Emlak has been involved in the construction of seven shopping centers in Turkey and the operation of the Ankara Bilkent Center as well as the Istanbul Tepe Nautilus shopping malls. The company continues to create retail venues that become centers of attraction thanks to the experience and know-how it has gained since the shopping center sector became more institutionalized. Tepe Savunma is another company that has achieved stable growth under the Bilkent Holding roof. Bilintur, founded by the Holding to operate in hotel management and catering, also continues to steadily increase its market share with customer-focused business processes and high quality standards. As Turkey s largest cement board manufacturer, Tepe Betopan ranks among the three largest cement-bonded particleboard producers in the world and exports its products to regions around the globe. 20 Tepe İnşaat 2013 Annual Report

23 The primary factor that ensures the success of Bilkent Holding s operations is the Group companies ability to form new subsidiaries and to support the Holding s total profitability without compromising on corporate values and principles. The most prominent example of this business model that has provided substantial added-value for Bilkent Holding is TAV Havalimanları ve Yatırım Holding, which was founded under a Tepe-Akfen partnership. Other key factors that have moved the Holding forward during its corporate development, known as the Journey toward Excellence, are its professional approach to human resource management, which is based on finding the right person for the right job, and the implementation of environmentally friendly practices. Shaping its operations in terms of five-year strategic plans, Bilkent Holding is highly successful in achieving both its financial and operational objectives. The Holding focuses on bolstering its market leadership in its operating sectors. In addition, the Holding closely monitors collaborative projects undertaken by public and private sectors, privatizations, overseas investment opportunities and investment projects with the help of advanced technology applications and its specialized staff. Gaining increasing strength during its more than 45 years of experience, Bilkent Holding has made significant contributions to the development of Turkey s private sector. The Holding remains committed to carrying out projects that will continue moving its sustainable and profitable financial structure and strong brand image forward into the future. At a Glance 21

24 A 45-year history dedicated to creating long-term value s 1982 Bilkent University Campus Turkey s first foundation university was established in October 1984 by the İhsan Doğramacı Foundation. Classes started with 386 students in 1986; today, the University has 12,000 students in nine faculties, two professional schools, three vocational schools and six institutes. Bilkent graduates are among Turkey s most valued human capital. The Bilkent Campus lies within the boundaries of Bilkent, a city created over the course of 15 years on the plains of Ankara. On 612 hectares, Bilkent is a City of Science that meets every need with its campus, residences, business and shopping centers, sports complex, concert halls, hotel and movie theaters, dam, power plant, forest and symphony orchestra. 22 Tepe İnşaat 2013 Annual Report

25 1990s 1999 Atatürk Airport (Build-Operate-Transfer) Built by the joint venture of the Tepe and Akfen groups (TAV), the International Terminal of the Istanbul Atatürk Airport was completed and started operating within two years. A company specialized in airport construction, operation and financing, today, TAV is an international power house, an industry leader in Turkey and is among the most prominent companies in the Middle East, North Africa and the Caucasus. The New International Terminal of the Atatürk Airport commenced operations on December 22, With an additional facility launched in 2004, the capacity of the terminal increased from 14 million passengers to 20 million annually. In July 2005, TAV also undertook operations at the Atatürk Airport Domestic Terminal. With an area of 62,500 m 2, the Domestic Terminal has been modernized to accommodate an average of 7.5 million passengers each year. The Development and Expansion Project at the Domestic Terminal entered its final phase in 2010 and yielded a total additional covered space of 18,770 m 2. At a Glance 23

26 A 45-year history dedicated to creating long-term value s 2000 Turkish Armed Forces Rehabilitation Center Built on a total area of 102,500 m 2, with a 400-bed capacity, this facility was established to provide rehabilitation services to military veterans. The facility design was selected as a result of an architectural competition. 24 Tepe İnşaat 2013 Annual Report

27 İş Bankası Headquarters Complex Turkey s first smart building, the İş Bankası Headquarters Complex is one of the most magnificent high-rises in Istanbul. Located in the urban heart of industry, commerce and culture, it represents a significant example of a smart building, not only in Turkey but also in Europe and the Middle East. İş Bankası Headquarters Complex is the highest skyscraper between Dubai and Frankfurt with its two towers, 52 and 36 stories, respectively. At a Glance 25

28 A 45-year history dedicated to creating long-term value Beykoz Mansions Built on 100 hectares in the Saip Molla Pasha Woods in Beykoz, Istanbul, Beykoz Mansions is one of Tepe İnşaat s most prestigious developments. The 401 mansions are in perfect harmony with their natural surroundings. Concurrently nostalgic and modern, the development s environs harken back to a time two-centuries prior. The historical Hunting Lodge, which was renovated true to its original form, serves residents with a library, billiards tables, gaming and event lounges, a spacious garden designed for large receptions and a kitchen. Beykoz Mansions ranks among the most exclusive residences in Istanbul. 26 Tepe İnşaat 2013 Annual Report

29 Tepe Nautilus Shopping Center Nautilus or Lighthouse Shopping Center was inspired by the seaside around Kadıköy, on the Asian side of Istanbul, one of the most historic coastal cities in the world. Nautilus is the largest retail center on Istanbul s Asian side. With its luminous design, Nautilus offers visitors a comfortable shopping environment throughout the day. At a Glance 27

30 A 45-year history dedicated to creating long-term value Kemer Rose Residence The housing estate, built in Kemerburgaz on a 35,000 m² tract among unique rose gardens, comprises 70 blocks and offers a tranquil lifestyle in touch with nature. The sports facilities of Kemer Rose Residence also provide residents a wide range of fitness and exercise options. 28 Tepe İnşaat 2013 Annual Report

31 2004 The Eczacıbaşı Kanyon Project Kanyon is a modern open-air shopping center built by Tepe İnşaat in Istanbul. Kanyon houses 160 stores, a gourmet supermarket, street market, movie theaters, restaurants, cafeterias, bars, a sports and health center, indoor and outdoor swimming pools and open-air performance venues, residential and office buildings and shopping and entertainment centers. Kanyon was built by the partnership of Eczacıbaşı and İş Gayrimenkul on an area of 250,000 m 2 in compliance with domestic and international earthquake regulations. At a Glance 29

32 A 45-year history dedicated to creating long-term value Baku-Tbilisi-Ceyhan Crude Oil Pipeline Tepe İnşaat participated in the construction of the 277-kilometer section of the BTC pipeline and pumping stations between Posof and Erzurum. Other projects carried out in 2005 include: İmranlı-Kayseri Natural Gas Pipeline, Kütahya-Bilecik-Uşak Natural Gas Pipeline. 30 Tepe İnşaat 2013 Annual Report

33 2006 Narcity Housing Development Built on approximately 147,000 m 2 in Maltepe, Istanbul, the Narcity complex is landscaped primarily with pomegranate trees, reflecting the name nar, Turkish for pomegranate. Built in compliance with the latest earthquake regulations, Narcity Housing Development consists of 1,306 units with state-of-the-art soundproofing, heating and water insulation systems. With high-quality materials and workmanship as well as its extensive social facilities and security systems, Narcity Housing Development is a strong candidate as one of Istanbul s favorite residential destinations. The Development project, launched in January 2006, is now being populated. At a Glance 31

34 A 45-year history dedicated to creating long-term value Tepe İnşaat 2013 Annual Report

35 At a Glance 33

36 A 45-year history dedicated to creating long-term value Esenboğa Airport Esenboğa Airport provided Ankara with a facility that suits the capital city. With an annual capacity of 10 million passengers, Esenboğa Airport is the only airport in Turkey that combines domestic and international terminals under one roof. Completed one year ahead of schedule, it has become the modern face of Turkey s capital. 34 Tepe İnşaat 2013 Annual Report

37 2007 Bilkent Garden Homes Bilkent Garden Homes consists of 124 twin-villas built on 123,000 m 2. Set amid superb natural beauty, the villas are 500 m 2 each and equipped with state-of-the-art technology. The complex includes 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 has been designed to meet the social needs of its residents. Situated in an urban location far from the hustle and bustle of the city and combining the beauty of nature with the amenities of contemporary living, Bilkent Garden Homes has generated great interest. The development project was launched end of 2005 and was completed at the end All units were sold before the construction was actually completed. At a Glance 35

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