Alanya on Edge: Turkey's Largest Construction Company Has Gone Bankrupt

Turkey's Construction Giant Fi Yapı Declares Bankruptcy: Thousands Affected in Alanya and Across the Country

Official Bankruptcy After 6 Years Under TMSF Administration

Fi Yapı Construction Inc., once one of Turkey’s largest construction companies, has officially declared bankruptcy after struggling with the effects of the global economic crisis. Despite operating under the control of the Savings Deposit Insurance Fund (TMSF) for six years, the company failed to resolve its financial and legal troubles.

4,000 Homes and Commercial Units Left Undelivered

Due to the company’s inability to deliver approximately 4,000 residential and commercial units, thousands of people across Turkey — including in Alanya — have been left in limbo. Major projects such as Fi Tower, Fi Side, Fi Life, and Fi Yaka remain incomplete.

Sponsor of Beşiktaş Stadium

During its peak growth period, Fi Yapı even became the title sponsor of Beşiktaş Stadium. However, its rapid expansion was disrupted by zoning cancellations imposed by municipalities and prolonged legal disputes.

Growing Concerns in Alanya

Following the news of the bankruptcy, contractors, real estate agents, and investors in Alanya have expressed serious concerns. Citizens are demanding clear answers from authorities about the fate of projects they have made down payments on.

Warning of a Domino Effect in Construction Sector

Experts warn that the collapse of a company as large as Fi Yapı could erode trust in the market and cause widespread delays in ongoing projects. Transparency and reliability are now more crucial than ever for construction companies.