Yesil Yapi

What Yesil Yapi does

Yeşil Yapı Endüstrisi A.Ş. is a Turkish general construction contractor and real estate developer founded in 1979 in Istanbul and listed on Borsa İstanbul (symbol: YYAPI) since 1993, when it became the first construction company traded on the exchange. The company delivers turn-key construction services across residential, commercial, industrial, healthcare, educational, hospitality, and infrastructure segments, with disclosed project experience spanning 10+ countries including Turkey, Azerbaijan, Georgia, Russia, Latvia, Bosnia, Libya, Saudi Arabia, Tanzania, Sudan, Kazakhstan, and Iraq. Its core technical capabilities include tunnel form construction for mass housing, steel construction, reinforced concrete work, and electromechanical installations, supported by ISO 9001, ISO 14001, and OHSAS 18001 certifications.

The company operates through two primary go-to-market motions: (1) competitive bidding on public infrastructure tenders (hospitals, schools, housing, transportation) and (2) direct negotiation with private developers and multinational joint ventures for industrial, commercial, and residential projects. Revenue is generated through lump-sum and cost-plus construction contracts, with project-based percentage-of-completion recognition, plus developer margin captured on its own residential pipeline via wholly-owned subsidiary Yeşil İnşaat, which operates the flagship Innovia housing series (~14,000 units across four phases in Istanbul). The customer base includes government agencies, multinational oil and gas JVs (BP/AIOC, Georgian Pipeline Company, Mitsui-Mitsubishi), automotive manufacturers (Honda), food processing firms (Cargill), universities (Akdeniz University), and hospitality operators (ISR Holding/Radisson Blu).

The business model is asset-light at the corporate level but capital-intensive at the project level, funded historically through five post-IPO equity raises (2010, 2012, 2013, 2022, 2025) and project-level co-financing arrangements (e.g., 70% foreign financing for BOT hydroelectric projects via Yapı Kredi Bank). Geographic expansion is pursued through bilateral trade delegations, strategic partnerships (Safari Group in Saudi Arabia, Aykaf Co. in Tanzania, TML Enerji for hydroelectric), and government-to-government frameworks. The company's competitive positioning rests on its first-to-list status, multi-decade track record, ISO certifications, and integrated developer-contractor model.

Name

Yesil Yapi

Legal name

Yeşil Yapı Endüstrisi A.Ş.

Website

https://yyapi.com.tr

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

Yesil Yapi Endustrisi A.S. is a Turkish general construction contractor and real estate developer, founded in 1979 and listed on Borsa Istanbul, delivering turn-key residential, commercial, industrial, healthcare, and infrastructure projects across Turkey and 10+ international markets.

Ownership category

akta.pro rank

Product category

General Construction Contracting

NAICS

Other Heavy and Civil Engineering Construction (237990)

SIC

General Bldg Contractors - Residential Bldgs (1520), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Residential General Contracting (New Build) (IMAFAAAB)

akta.pro secondary industries

Commercial General Contracting (New Build) (IMAFAAAA), Public Works General Contracting (IMAFAAAG), Food & Beverage Processing Plant Construction (IMAFADAH)

Keywords

• Construction contracting
• Turn-key construction
• Residential housing projects
• Industrial plant construction
• Infrastructure construction services

Headquarters

HQ city

Topkapi

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Construction Contracting: Revenue generated from construction contracts including design, civil works, mechanical and electrical installations, and project management. Projects range from residential complexes to industrial facilities, hospitals, and infrastructure. Revenue is project-based and recognized upon project completion or percentage of completion.
2. Turn-key Project Delivery: Complete turn-key construction services from preliminary design to final execution, generating revenue through lump-sum contracts or cost-plus arrangements.
3. Real Estate Development: Wholly-owned subsidiary Yeşil İnşaat develops large residential projects (Innovia), with revenue from unit sales and commercial space leasing.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Yeşil Yapı Endüstrisi A.Ş. is a general construction contractor delivering turn-key construction services from preliminary design to final execution across residential, commercial, industrial, healthcare, educational, hospitality, and infrastructure project types. It secures work through public tenders and direct private contracts in Turkey and 10+ foreign countries, and develops large-scale residential projects via its wholly-owned subsidiary Yeşil İnşaat (Innovia series).

Product overview

Yeşil Yapı Endüstrisi A.Ş. is a construction and contracting company offering a comprehensive portfolio of construction services. The company operates as a single unified construction services offering organized around project types rather than a modular software platform. Core service categories include industrial plant construction (power plants, oil/gas terminals), residential housing (mass housing complexes, luxury villas), commercial and business centers, healthcare facilities, educational buildings, hotels, and restoration/renovation services. The flagship residential product is the Innovia housing project series (Phases I through IV) in Istanbul, which represents the company's largest ongoing project. International operations span Turkey, Africa, Middle East, Azerbaijan, Georgia, Latvia, Bosnia, Libya, Russia, and Saudi Arabia. The company is ISO 9001, ISO 14001, and OHSAS 18001 certified and is listed on the Istanbul Stock Exchange.

Differentiator

Problem solved

Functional benefit

Products and services

• Innovia IV. Phase Housing

Quantifiable outcome

• ~14,000 residential and commercial units developed through Innovia project series
• +4 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and major.

• Safari GroupcoreStrategic or Co-development PartnerShareholders Agreement signed with Safari Group of Kingdom of Saudi Arabia for establishing a joint company in Riyadh. This partnership represents Yeşil Yapı's strategic expansion into Saudi Arabian construction market focusing on residential and infrastructure projects.
• Aykaf Co. LtdcoreStrategic or Co-development PartnerMemorandum of Understanding and Letter of Intent signed with Aykaf Co. Ltd and Arusha District Council for construction of residential complex including villas and apartment blocks in Arusha, Tanzania. Partnership aims to develop housing projects in East Africa.
• TML EnerjicoreStrategic or Co-development PartnerJoint venture with TML Enerji for hydroelectrical power plant projects (Arıt Bartın and Yukarıakçay Muğla HES). Yeşil Yapı-TML developed projects under Build-Operate-Transfer model with 20-year operational period. Total investment value of 16.5 million USD with 70% foreign financing.
• Mitsui-Mitsubishi Heavy Industries JVmajorStrategic or Co-development PartnerJoint venture partnership for Severnaya 400 MW Gas Combined Cycle Power Plant in Azerbaijan. Yeşil Yapı served as main subcontractor for civil works and mechanical/electrical/instrumentation installation. Project valued at 25.2 million USD.
• Arusha District CouncilcoreStrategic or Co-development PartnerPartnership with Arusha District Council of United Republic of Tanzania for residential complex construction project. Memorandum of Understanding signed for villa and apartment block development in Arusha city.

Scale indicators5 records

Recent moves9 records

Expansion highlights8 records

Broad incumbents

• Fluor Corporation: Global EPC contractor serving energy, industrial, and government clients with large-scale project execution. Comparable in scope on industrial/EPC work such as oil terminals and power plants that Yeşil Yapı has delivered for BP/AIOC and Mitsui-Mitsubishi.
• VINCI Construction: One of the world's largest construction groups operating broadly across infrastructure, energy, and real estate. Relevant as a global incumbent that competes with Turkish contractors on large international tenders in MENA and Africa.

Direct peers

• TAV Construction: Turkish construction subsidiary of TAV Airports focused on airport terminals, infrastructure, and superstructure projects in MENA, CIS, and Africa. Comparable international tendering model and similar energy/infrastructure adjacencies.
• Limak Holding (Limak Construction): Turkish construction group with major airport, infrastructure, and energy project execution across MENA, Africa, and the CIS. Competes with Yeşil Yapı on public-infrastructure tenders and turnkey industrial builds in similar geographies.
• Rönesans Holding: Large Turkish construction and real estate developer active in domestic and international markets including healthcare, infrastructure, and industrial projects. Comparable scale, Turkish base, and similar customer-segment mix (public tenders, private developers, energy).
• Tekfen Holding: Turkish conglomerate with construction, agribusiness, and real estate operations, historically active in CIS, Middle East, and North Africa. Comparable project portfolio including power plants, pipelines, and infrastructure.
• Baytur Construction: Turkish general contractor with residential, commercial, and infrastructure projects including international work in MENA and CIS. Closely matches Yeşil Yapı's scale and project-type diversity.
• Ant Yapı: Turkish general contractor with strong residential, commercial, and hospitality project portfolio in Russia, CIS, and the Middle East. Comparable end-market focus on residential complexes and luxury developments similar to the Innovia model.
• Nurol İnşaat: Turkish construction company executing large-scale infrastructure, defense facilities, and real estate projects both domestically and internationally. Comparable general-contractor capabilities and project mix.
• ENKA İnşaat: Turkey's largest publicly listed construction contractor with extensive international operations across the CIS, Middle East, and Africa. Direct competitor for Turkish-origin contractors bidding on similar public infrastructure and industrial projects globally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

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 Yesil Yapi