Tepe İnşaat offers the first "Building Completion Insurance" in Turkey

Introducing the first "Building Completion Insurance" in the real estate industry after the Tepe Aura project, Tepe İnşaat is not getting ready to provide this insurance in urban transformation projects.

Tepe İnşaat is the 50th largest company of Turkey in equity ranking and has become the first construction company that offers the Building Completion Insurance, which was enacted in 2013 but have not been implemented until today. 

Building Insurance Policy will be a Part of Urban Transformation

Noting that they provided the first building completion insurance of Turkey in the Tepe Aura project, General Manager of Tepe İnşaat Kemal Atila Oğuz said that the building completion insurance, which was enacted in 2013, has never been implemented in Turkey. "We are leading the industry by implementing this insurance in Tepe Aura, a project with 98 houses. There are two major urban transformation projects that we aim to realize in Istanbul in the near future.

In these projects, we want to offer building completion insurance to clients as well as owners. Urban transformation is unfortunately not implemented at the desired level in the country, there have been many problems and the process is progressing very slowly. Thanks to the building completion insurance practice in urban transformation projects, owners will be secured and make contracts comfortable with companies that offer this insurance. As a result, an important problem will be eliminated in the field of urban transformation. Tepe İnşaat is among the top 50 Turkish companies in the equity ranking.

Therefore, we have enough equity to complete our projects on time without being affected by market conditions, but we consider building completion insurance very important in terms of maintaining the reliability of industry and more importantly, clearing the way for urban transformation, which is one of biggest problems in the country.

We are preparing two new projects in Beşiktaş, İstanbul. For these projects, a total investment of $450 million is projected. We want to provide Building Completion Insurance in these projects as well, and lead the way in the industry once again."

Tepe İnşaat meets all the criteria required for insurance

Rosenberg&Parker of Turkey CEO Meltem Gezen expressed his views about the Turkey's first Building Completion Insurance. "The Building Completion Insurance was enacted under the Customer Protection Law no. 6502 in November 2013. However, some conditions had to be set for the development of this insurance, and with the agreements between the reinsurance companies, the product became practicable in July 2016. For the first practical example, important criteria must have been met, besides a powerful financial infrastructure, operational experience and suitability of project. So this process was completed last year with Tepe Aura, the project undertaken by Tepe İnşaat in Çekmeköy-Ömerli. Considering that Tepe İnşaat meets the required criteria, besides the qualities of this project, we introduced the Building Completion Insurance together for the first time in Turkey".

In Tepe Aura, all houses are positioned based on a 160-year-old oak tree

Tepe Aura is located at a close distance to urban transportation with its location right next to the 3rd bridge connection away from the crowd, noise and stress of city. Tepe Aura consists of 98 houses and offers the comfort of villa in the form of apartments with their high ceiling structure. In Tepe Aura, where the 160-year-old big oak tree at its center is protected with great care, all the houses are positioned around it to benefit from its energy and calmness. All the houses in the project were carefully designed in 3 storeys so that they are not higher than the oak tree and cut the view of each other.

Tepe Aura has 16 3-storey blocks constructed on a land of 16,000 square meters. There are 1+1, 2+1 and 3+1 apartment options with garden, terrace and duplex plan and an area varying between 106 and 199 square meters.

In Tepe Aura, which offers 3 different decoration options to its customers, the apartments are equipped with technological features like smart home and security systems. As a Leed Gold candidate, environmental awareness is considered at global standards in all stages of the project. Tepe Aura will also have swimming pool and social facilities as well as playgrounds for children in different areas.