President and CEO
The past 12 months have been among the busiest ever witnessed by long-serving president and chief executive officer of TAV Group, Sani Sener. His company consists of TAV Airports Holding and TAV Construction. The former is listed on Borsa Istanbul with a market capitalisaiton of $3bn (EUR2.6bn). Last year, it generated revenues of $12.3bn (EUR1.1bn), and anticipates a 7% to 9% revenue increase in 2016.
Impressive though these figures are, Sener concedes that this is a challenging market. “The single biggest challenge that we face is the effect of the low oil price,” he told CW. “However, the majority TAV’s portfolio consists of prioritised, state-funded airport projects that are less [susceptible] to financial crises.”
In 2016 alone, TAV has completed works at four regional transport hubs. In January, it finished the Saudi Airlines Catering Building in Madinah. Its scope included the construction of the 5,719-sqm main structure, a workshop, and three security buildings.
In May, TAV finished its work as the main contractor for Madinah Airport Hotel, Saudi Arabia – a four-star, seven-floor premises that will be operated by Millennium Hotels.
TAV is also ready to hand over King Khalid International Airport’s Terminal 5 in Riyadh: a project for which it was the lead partner of main contractor joint venture, TAV-Al Arrab. This design-and-build (D&B) contract required the construction of a 106,450-sqm passenger terminal building, car park, and associated facilities.
Also in May, TAV completed the extension of Turkey’s Instanbul Ataturk International Airport.
The next 12 months will see TAV continue works at the $3bn (AED10.9bn) Abu Dhabi International Airport’s Midfield Terminal Complex (MTC); Jeddah’s $765m (SAR2bn) SAEI Aircraft Maintenance Hangars; Bahrain International Airport’s $1bn (BHD380m) modernisation programme; and Phase 2 of the $1.17 (OMR450m) development at Muscat International Airport.
So despite the flurry of recent project completions in the Middle East, it appears there will be no respite for Sener’s team during the coming year.