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14 May 2015

Bilkent Integrated Healthcare Campus achieves financial close, Turkey

The €1.2 billion Bilkent Integrated Healthcare Campus public-private partnership (PPP) project in Ankara, Turkey, has successfully reached financial close. Mott MacDonald is lenders’ technical and environmental advisor for the development and will now provide construction and operational monitoring services.

Covering over 1.2 million sq m, the Bilkent Integrated Healthcare Campus is the world’s largest greenfield healthcare scheme providing 3,804 beds and parking for 7,209 vehicles. It will include over 100 operating theatres and is expected to treat around 35,000 patients per day and employ approximately 8,000 staff. A new office building will also be located on site for the Turkish Ministry of Health.

Mott MacDonald’s due diligence during the project’s financing stage included reviewing potential technical issues and commercial implications arising from the project agreement and schedules. The consultancy also appraised the stakeholders’ competence, track record and capabilities, as well as the design solution, construction planning, capital and operating expenditure, lifecycle costing and the project’s payment mechanism.

Burak Sencer, Mott MacDonald’s country manager for Turkey, said: “Bilkent is the third healthcare PPP financing in Turkey to reach financial close following Adana and Mersin. Mott MacDonald is technical advisor on eight projects in the overall programme, which reaffirms our position as the pre-eminent lenders' technical advisor in global PPP markets.”

Construction of the Bilkent campus is expected to take three years, which will be followed by a 25-year concession period.

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