Fenerbahce Karamysh Marina Privatization: Highest Offer Comes from Karaarslan
Final negotiations for the privatisation tender through a 40-year “concession” for the port in question were held by the Privatisation Authority.
Vahit Karaarslan, Can Kültür Sanat Eğitim Kuramları İşletmemeleri AŞ, Doğuş Tea and Food Materials Production Marketing Import Export Inc, Ceynak Yatırım Holding AŞ, Koç Holding subsidiary Tek-Art Kalamış, Fenerbahçe Marmara Turizm Tesisleri AŞ, Silahtaroğlu k İnşaat Anonim Company/Sinyar Enterprises – Sole Proprietorship LLC Joint Venture Group participated.
The highest bid in the non-elimination round was $300 million.
Silahtaroğlu Mühendislik İnşaat Anonim Şirketi/Sinyar Enterprises-Sole Proprietorship LLC Joint Venture Group, which submitted the lowest bid in the first written elimination round of the bid, was eliminated in the second written elimination round, eliminating Ceynak Yatırım Holding AŞ.
Bidding then moved to an “auction” with a “starting bid” of $410 million and a bid range of $1 million.
It lasted 27 laps
The highest bid in the 27-round auction was $505 million by Bahit Karaalslan.
Vahit Karaarslan, known for signing luxury projects in Antalya, made headlines in 2021 when he purchased a 23,328-square-meter plot of land in Antalya Kemeraz owned by Sumer Holding for 176 million lira.
A tender previously awarded to Koc Holding in 2021 was cancelled a few months later by AKP President Recep Tayyip Erdogan, while a tender held in 2022 was dropped after not receiving enough offers.
Koç Holding announced in a notice to the Public Disclosure Platform (KAP) that it would participate in the bidding, which will be held today.
Customization Process
Following a tender organised by the Privatisation Agency (ÖİB) in 2021, the 40-year operating rights of Fenerbahçe Karamış Marina were awarded to Koç Holding for TL 2.53 billion, and the decision to privatise was also approved by AKP President Erdoğan.
The state court denied the application.
The decision to privatize the port was published in the Official Gazette and took effect in 2013, after which the Municipality of Kadikoy, local residents, the Chamber of Architects and the Urban Planning Chamber appealed to the Higher Committee for Privatization to halt the privatization, but their appeal was rejected. The State Council also rejected a similar application.
Kadikoy Municipality’s application was rejected
In response to the Privatization Agency’s announcement, Kadikoy Municipality applied to sell the marina without privatizing it, but the Privatization Agency rejected the municipality’s application, saying that the marina could not be transferred to a public institution or organization.
The tender awarded to Koç Holding was cancelled by Erdogan on January 19, 2022. A tender held the same year was cancelled due to not receiving enough bids.
An announcement published in the Official Gazette on April 6th announced that another tender would be held for the privatization of the marina. The provisional guarantee fee for the tender to be held in this connection was set at TL 120 million.
“The park has been turned into a construction area.”
The Kadikoy City Initiative, Kadikoy Municipality, environmentalists, opposition parties and activists said in statements in recent days that the marina operating in the area was being pushed into unnecessary expansion, resulting in the park in the area becoming a construction site.
Residents of Kadikoy said they opposed the plan and demanded more green space and coastal protection. They also called for the fence around the marina on Karamysh beach to be removed and the area opened to public use.
Türkiye’s second largest marina
Fenerbahce Kalamis Marina began its services in 1987. The port was included in the scope and program of privatization on March 7, 2011. The port can moor a total of 1,511 yachts: 1,291 at sea and 220 on land. With this capacity, Fenerbahce Kalamis, Turkey’s second and Istanbul’s largest marina, accounts for 23.8 percent of Istanbul’s total capacity and 6 percent of Turkey’s total.
