Nurol Holding

Nurol Holding is an industrial conglomerate in Turkey operating in the construction, defence manufacturing, energy, investment banking and tourism industries. Its core business is construction; Nurol Construction was founded in 1966.^[2][3] It is privately owned, with equal shares held by three members of the Çarmıklı family.^[4] The Holding was established in 1989.^[5]

Nurol Holding A.Ş.

Company type	Anonim Şirket
Founded	Turkey (1989)
Key people	Ugur Dogan (CEO)
Revenue	$1.51 billion (2023)[1]
Operating income	$399 million (2023)
Net income	$201.41 million (2023)
Total assets	$4.79 billion (2023)
Total equity	$1.68 billion (2023)
Number of employees	9,495 (2023)
Website	Nurol Holding website

The company's 35th anniversary celebration in 2001 was attended by former Prime Minister and President of Turkey Suleyman Demirel.^[6] In 2007, it considered entering the media sector by participating in the Sabah-ATV tender, but decided it against it after reviewing the companies' financials.^[7]

Companies

Nurol's companies include:^[8]

• Nurol Construction and Trading (Nurol İnşaat ve Ticaret A.Ş.) ^[3]
  • Projects include the İzmit Bay Bridge, and leadership of the Ilısu Dam construction consortium^[4]
• Nurol Makina ve Sanayi A.S., founded 1976) - industrial and defence manufacturing^[9]
  • Products include the Nurol Ejder and the TOMA water cannon^[10]
• FNSS Defence Systems (FNSS Savunma Sistemleri A.Ş.) - defence manufacturing;^[11] a joint venture with BAE Systems Inc.
  • Products include the FNSS Pars, ACV-300, and AZMİM.
• Nurol Technologies
  • Products include boron carbide armour^[12]
• Nurol Yatırım Bankası - investment banking based in Maslak^[13]
• Nurol Real Estate (Nurol Gayrimenkul Yatırım Ortaklığı, quoted on the Istanbul Stock Exchange as NUGYO^[14])
  • Notable investments include Hurriyets headquarters, acquired for $127m in 2012^[15]
• Turser (tourism)
  • Owns Sheraton Turkey, which includes the Sheraton Ankara^[16]