06 July Monday

Six IMM-owned Companies Make Turkey’s Fortune 500 List

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.”

About the IMM Companies featured in Fortune 500 Turkey:


Provides natural gas service to Istanbul with a safe, sustainable, innovative approach that adds value to the environment and people. IGDAS ranks 41st in net sales of 8 billion 451 million TL, 43rd in the equity rankings and 6th in the oil and gas production and distribution


METRO ISTANBUL ranked 302nd this year, as a result of the evaluation made on its net sales of 1 billion 42 million TL; It ranks 15th in the travel and transportation services category and 235th in the equity ranking.


ISTAC, working with the vision of an international authority institution that produces unique solutions with a holistic approach to environmental management, ranked 304th as a result of the evaluation made on net sales of 1 billion 38.4 million TL. İSTAÇ ranked 5th in the business and support services sector in Fortune 500 and ranked 217th in the equity ranking.


Construction of livable and reliable cities in various regions of Istanbul, KIPTAS has risen from 322nd place to 305th place last year. In addition, as a result of the evaluation made on the net sales of 1 billion 38.2 million TL, it is 104th in the equity ranking and 15th in the construction sector.


ISTGUVEN, which offers 24/7 high-level security measures with its expert staff in order to provide the best and most effective security in all areas served in Istanbul, enters the list in 362nd with the net sales of 879 million TL by. It ranks 437th in the equity rankings and 7th  with business and support services sector.


Operating in order to meet public transportation and transportation needs, ISTANBUL ULASIM entered the list in 457th place. In addition, as a result of the evaluation made on net sales of 652 million TL, it ranked 448th in the equity ranking and 17th in the travel and transportation services category.

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