Sur Yapi

What Sur Yapi does

Sur Yapi is a privately held Turkish real estate developer and general contractor founded in 1992 and headquartered in Altunizade, Istanbul. The company operates two divisions: Gayrimenkul Geliştirme (Real Estate Development), covering residential complexes, mixed-use projects, shopping malls, office buildings and tourism/interval-ownership developments, and İnşaat-Taahhüt (Construction-Contracting), covering infrastructure, industrial facilities, hospitals and post-disaster housing. Its portfolio includes 134+ branded projects, 7.5 million m² of completed construction and 70,000+ residents housed, with a flagship 1.3 million m² urban transformation project in Antalya (Sur Yapi Antalya) described as Turkey and Europe's largest urban renewal site, currently home to 20,000+ residents across 6,000 delivered units.

Revenue mechanics span one-time residential unit sales (with structured bank-free and installment payment plans including 10% down, 48-month interest-free and 72-month graduated installments), recurring rental income from four operated shopping centers (Axis Kağıthane, Axis Istanbul, Sur Yapi Marka AVM, Sur Yapi Metrogarden), commercial unit sales, and third-party contracting. Distribution is anchored by an unusually deep company-owned sales-office network across Istanbul (Anadolu and European sides), Antalya, Bursa and Ankara, plus mall-based sales points in major Turkish shopping centers. Customer segments span end-user homebuyers, property investors, retail tenants and government/institutional clients (including post-earthquake housing projects such as Adıyaman İndere with 1,970 residences).

The Elmas family controls the company, with Ziya Altan Elmas as Chairman, Ufuk Elmas as Vice Chairman and Atilla Elmas as Board Member. Sur Tatil Evleri GYO, the holiday-residence subsidiary, completed an IPO on Borsa Istanbul in December 2023, providing public-market capital for the timeshare/interval-ownership segment. Core technical capabilities center on earthquake-resistant construction per current Turkish regulations, smart building/automation features, energy-efficient design (A++ appliances, thermal insulation, water-saving fixtures) and master-planned community design, but the company has no disclosed AI/ML, software-platform or API offering; it is fundamentally a physical-asset developer rather than a technology firm.

Name

Sur Yapi

Legal name

SUR YAPI ENDÜSTRİ SANAYİ VE TİCARET ANONİM ŞİRKETİ

Website

https://suryapi.com.tr

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Sur Yapi is a privately held Turkish real estate developer and general contractor, founded 1992 in Istanbul, building residential, mixed-use, retail, office and tourism projects across Turkey, anchored by the 1.3 million m² Sur Yapi Antalya urban transformation mega-project and serving end-user homebuyers, investors, retail tenants and government clients.

Ownership category

akta.pro rank

Headquarters

HQ city

Istanbul

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Residential Property Sales: Primary revenue stream from developing and selling residential properties (apartments, villas) to end-buyers. Revenue is generated through one-time property sales with various payment plans including installment options.
2. Vacation/Interval Ownership (Devremülk): Sur Yapi Tatil Evleri offers interval ownership properties in Antalya with thermal facilities, generating revenue from devremülk (timeshare/interval ownership) sales with installment payment options.
3. Commercial Real Estate: Development and sale/lease of retail spaces (street shops/cadde dükkanları), shopping center units, and office spaces within mixed-use projects.
4. Shopping Center Operations: Operation of shopping malls including Axis Kağıthane, Axis Istanbul, Sur Yapı Marka AVM, and Sur Yapı Metrogarden. Revenue from tenant leases and common area management.
5. Construction Contracting: General construction and contracting services for third-party clients including industrial facilities, hospitals, infrastructure projects, and other commercial buildings.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Sur Yapi is a Turkish real estate developer and general construction contractor that develops, builds, and sells residential apartments and villas, mixed-use mega-projects, shopping malls, office buildings, and holiday/vacation homes primarily across Turkey (Istanbul, Antalya, Bursa, Ankara). It also operates shopping malls and provides construction-contracting services for third-party clients including infrastructure, industrial facilities, hospitals, and post-earthquake housing projects. Customers can purchase units directly through company sales offices, mall-based sales desks, and flexible bank-free installment plans.

Product overview

Sur Yapi operates as a comprehensive real estate development and construction company with two primary divisions: Gayrimenkul Geliştirme (Real Estate Development) and İnşaat-Taahhüt (Construction-Contracting). The Real Estate Development portfolio includes mixed-use mega projects (Sur Yapi Antalya - Europe's largest urban transformation), residential complexes (Sur Yapi Topkapı Suites, Sur Yapi Cevher Ümraniye, Excellence Koşuyolu, Axis Suites İstanbul), shopping malls (Axis Kağıthane AVM, Sur Yapi Marka AVM, Sur Yapi Metrogarden AVM), office projects (Onur Ofis Park, Akel İş Merkezi), and tourism developments (Sur Yapi Tatil Evleri Antalya with thermal spa facilities). The Construction Contracting division handles infrastructure, industrial facilities, hospitals, and earthquake housing projects. The company positions itself as providing complete lifestyle environments with residential, commercial, social amenities, and green spaces.

Differentiator

Problem solved

Functional benefit

Brands

• Sur Yapi Metrogarden: Mixed-use project combining shopping mall and residential units in Istanbul.
• Sur Yapi Marka
• Axis Istanbul
• Axis Kağıthane
• Sur Yapi Antalya
• Sur Tatil Evleri
• Sur Yapi Topkapı Suites
• Sur Yapi Excellence Koşuyolu
• Sur Yapi Corridor
• Sur Yapi Vitrin
• Sur Yapi Lavender Sancaktepe
• Axis Suites Istanbul
• Sur Yapi Cevher
• Sur Yapi Turkuaz
• Sur Yapi Antalya Suites
• Sur Yapi Topkapı Evleri
• Sur Yapi Bahçeyaka Ispartakule
• Sur Yapi Şehir Konakları
• Sur Yapi Mahalle Istanbul
• Sur Yapi İlkbahar
• Sur Yapi İlkbahar 2. Etap
• Sur Yapi Muhit Sancaktepe
• Sur Yapi Greenium Çekmeköy
• Sur Yapi Gölbahçe Evleri
• Sur Yapi Tempo City
• Sur Yapi Tilia
• Sur Yapi Selvice Evler
• Sur Yapi Ada Park
• Sur Yapi Dora Park
• Sur Yapi Exen Istanbul
• Sur Yapi Mirage
• Sur Yapi İdilia
• Villa Sera Çekmeköy
• Sur Yapi Yeşil Mavi Maltepe

Products and services

• Sur Yapi Antalya (Urban Transformation Mega Project) Europe's and Turkey's largest urban transformation project spanning 1,300,000 m²; a self-contained city with residences, streets, parks, gardens, shops, shopping street, and 6,000 independent sections delivered, currently home to over 20,000 residents.
• Sur Yapi Topkapı Suites Low-rise residential project near Istanbul's historic Topkapi peninsula with horizontal living concept, functional interior layouts, and limited apartment options blending historical context with modern living expectations.
• Sur Yapi Cevher Ümraniye Residential project in Ümraniye, Istanbul featuring fitness, sauna, studio rooms, closed parking, relaxation areas, sports facilities, picnic areas, winter garden, and children's playgrounds.
• Sur Yapi Excellence Koşuyolu Street-facing commercial and residential project in Koşuyolu, Kadıköy, Istanbul combining apartment units with street-level retail (cadde dükkanları).
• Axis Suites Istanbul Residential suites project in Istanbul.
• Sur Yapi Vitrin Antalya Smart city project within Sur Yapi Antalya featuring 77–126 m² 2+1 and 3+1 apartments with gardens, landscaping, parks, and swimming pools.
• Sur Yapi Antalya Suites Luxury residential project with sea views, rooftop swimming pools, modern architecture, and a Mediterranean atmosphere in Antalya.
• Sur Yapi Antalya Turkuaz Waterfront residences within the Antalya project themed around 'Civilization Brought by Water'; all blocks located by water features with wide plazas, ponds, and extensive social amenities.
• Sur Yapi Tatil Evleri Antalya (Holiday Homes / Interval Ownership) Holiday homes in Antalya with 4-season thermal spa facilities for vacation/interval ownership (devremülk) buyers; secondary phase currently for sale with installment payment options.
• Sur Yapi Marka AVM-OFİS-KONUT Integrated mixed-use project in Bursa combining shopping mall (AVM), office spaces, and residential units (konut).
• Sur Yapi Metrogarden AVM-KONUT Mixed-use complex combining a shopping mall and residential units in Istanbul.
• Axis Istanbul AVM-OFİS-KONUT Large-scale mixed-use project in Bayrampaşa, Istanbul combining shopping mall, offices, and residences.
• Axis Kağıthane AVM Shopping mall in Kağıthane, Istanbul offering retail space for tenants and customer-facing services.
• Villa Sera Çekmeköy Villa project in Çekmeköy, Istanbul targeting buyers seeking low-density residential living within the metropolitan area.
• Sur Yapi Corridor (Cadde) Street-facing commercial (cadde dükkanları) and residential project combining retail units at street level with apartments above.
• Sur Yapi Lavender Sancaktepe Street-level commercial (cadde dükkanları) and residential project located in Sancaktepe, Istanbul.
• Onur Ofis Park Office park project offering purpose-built office space for corporate tenants.
• Akel İş Merkezi Business center office project providing commercial office space for corporate and SME tenants.
• İnşaat - Taahhüt (Construction Contracting) Full-service construction and contracting division undertaking infrastructure, industrial, hospital, and other construction projects across Turkey on behalf of third-party clients (e.g., DSİ–TKB infrastructure projects, hospital builds, post-earthquake housing).
• Adıyaman İndere Deprem Konutları Projesi (Earthquake Housing) Earthquake housing project in Adıyaman with 338,000 m² construction area delivering 1,970 residences for earthquake victims as part of post-disaster reconstruction.

Quantifiable outcome

• 10,000 homes delivered in 4 years (2020-2024)
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Borsa İstanbulcoreOthers · 7 December 2023Sur Tatil Evleri GYO, a subsidiary of Sur Yapi, completed its IPO on Borsa İstanbul (December 2023). The public offering attracted significant investor interest, marking a milestone for the Sur Group's real estate operations.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Kalyon İnşaat: One of Turkey's largest construction conglomerates, executing mega infrastructure, hospital, and residential projects. Comparable to Sur Yapi's construction contracting division, particularly in government and post-disaster housing work.
• Ağaoğlu Group: Major Turkish private real estate developer focused on large-scale residential, mixed-use, and office projects. Highly comparable to Sur Yapi in product mix, buyer segment, and Istanbul-centric delivery model.
• Özak GYO: Turkish REIC focused on residential, office, and hotel developments. Comparable in mixed-use, mid-sized project development, and listed real estate vehicle structure.
• Tahincioğlu Gayrimenkul: Turkish real estate developer with notable mega-projects (e.g., Nidakule, Bomonti) spanning residential, office, and mixed-use. Comparable in mixed-use, urban, and Istanbul-focused execution.
• Emlak Konut GYO: Turkey's largest publicly listed real estate investment trust (REIC) and a dominant mixed-use residential developer. Directly comparable as a Turkish for-sale residential developer executing large urban transformation projects, with public-market disclosure and a similar mega-project orientation.
• Ant Yapı: Large Turkish general contractor with significant residential and mixed-use development activity. Comparable in construction scale, residential delivery, and contracting business.
• Torunlar GYO: Turkish REIC developing residential, office, and shopping mall projects. Comparable as a publicly listed Turkish real estate vehicle with both property development and recurring shopping-center income.
• Mesa Mesken Sanayi A.Ş. Long-established Turkish residential developer building apartments, villas, and mixed-use projects. Comparable in scale, multi-decade track record, and product range to Sur Yapi.

Broad incumbents

• Rönesans Holding: Major Turkish construction and real estate conglomerate with international operations. Comparable in large-scale construction contracting, mixed-use development, and public-sector project execution; broader and more international than Sur Yapi.
• Emaar Properties PJSC: UAE-based global real estate developer with a Turkish subsidiary (referenced in Sur Yapi's own past contracting portfolio). Comparable in mega-project execution, mixed-use master-planning, and brand-led residential sales.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/suryapi
• Facebookfacebook.com/suryapi

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sur Yapi