July 5, 2020

Istanbul Metropolitan Municipality (IMM) was featured in Fortune Magazine’s 2020 list of top 500 Turkish companies, with six of its subsidiary companies which were assessed based on several performance and competitiveness criteria.

Istanbul Metropolitan Municipality (IMM) took place in the “Fortune 500 Turkey” 2020 ranking with six subsidiary companies, where the companies have the opportunity to see their place in measuring their performance and competitiveness in accordance with certain criteria.

In the evaluation made according to 2019 net sales figures, IMM companies ranked as follows: İGDAŞ (41), METRO İSTANBUL (302), İSTAÇ (304), KİPTAŞ (305), İSTGÜVEN (362) and ISTANBUL TRANSPORTATION (457)

IMM companies as sectoral drivers

Operating in many different fields ranging from transportation to energy, housing to environmental investments, IMM’s subsidiary companies have had a long history of leading their respective sectors in Turkey.

While KİPTAŞ has ranked 5th among the companies that increase the profit before interest and tax the most, İSTGÜVEN ranks 33th. In the list of companies that increased their sales the most, İSTGÜVEN is 40th and ISTANBUL TRANSPORT is 49th.

Istanbul: a center of attraction for foreign investors

Speaking on Istanbul’s investment potential, IMM-affiliated Istanbul Investment Agency CEO Nihat Narin notes: “As a natural result of the pandemic, the cautious wait of the investors continues in 2020. However, Istanbul, which has been a commercial transition region for 8500 years, has always maintained its charm despite all difficult conditions in all periods of history. Istanbul which provides 31% of Turkey’s economy hosts more than 40 thousand companies from 100 different countries. Powerful structure of IMM and subsidiaries, highlights the attractiveness of Istanbul’s status as a world metropolis for investors. Our transparent and reconciling approach has started to receive positive feedback from international circles. We are facing the interest of many countries from Norway to England, from America to China, from Japan to Spain. In projects, we evaluate the offers of collaborations within the models that potential investors whom provide the financial engineering for investments. Today, in Istanbul a wind of change is blowing. Those who invest in this strong wind of change and development will win.”