Pasifik Holding prepares for major advances in defense and logistics strengthening its position through its IPO

Emphasizing that the holding has a unique sectoral portfolio, Pasifik Holding Chairman of the Board Fatih Erdoğan stated that the IPO is an important step in accelerating their growth strategies. Erdoğan explained that since 2018 they have been investing in what they define as “the industries of the future”—logistics and technology—and added: “In 2023, we established Pasifik Holding. We then gathered under the holding roof our companies operating in construction, real estate, logistics, technology, energy and mining. The year 2024 was a year in which we reaped the fruits of our work, and as of September 30, 2024, Pasifik Holding’s equity reached 23.4 billion TL, forming a solid financial foundation. The year 2025 will be the IPO year of the holding, and this process will allow us to increase our strategic investments.”

Sharing that Pasifik operates with 55 companies and provides employment to more than 2,500 people, Erdoğan said: “We adopted the holding structure to achieve a more institutional framework. This strengthened synergy among our companies, improved cooperation and resource sharing, facilitated management, increased financial capability and enabled our brands and image to reinforce one another. Now, we are entering a new phase. Our first publicly traded company, the 40-year-old Orçay; Pasifik REIT, which brought many firsts to its regions through its Next Level-branded projects; Pasifik Eurasia, Türkiye’s only international railway logistics company; and Pasifik Technology, producer of Türkiye’s first and only unmanned helicopter developed with domestic technology, all trade on Borsa Istanbul. Since we view the IPO vision as the greatest legacy we can leave to the future, we are now preparing to take Pasifik Holding public in 2025. We have submitted our prospectus to the CMB regarding the IPO, and we are currently in the approval process.”

Pasifik Technology to Grow Through Defense Industry Investments

Recalling that Pasifik Technology stands out with its products and investments in the defense industry, Erdoğan stated that the company, which was publicly offered in early 2024, has made significant breakthroughs particularly in defense technologies. Erdoğan reminded that Pasifik Technology made a strong entry into the defense industry by acquiring Titra Technology—the producer of Türkiye’s first and only unmanned helicopter—and recently signed an important contract with the Defense Industries Presidency for the unmanned helicopter Alpin. He added: “In 2024, we also developed Türkiye’s first armed unmanned helicopter, Dumrul, and completed its tests with three different weapon integrations. We expect it to enter inventory this year. Unmanned helicopters will also play an important role in civilian logistics in the coming period.”

Global Vision in Unmanned Helicopters

Erdoğan announced that Titra, a subsidiary of Pasifik Technology, reached a valuation of 483 million dollars as of the end of 2024: “An investment was made based on this valuation. This demonstrates how right our decision was to invest in defense technologies. We foresee continued interest from domestic and international funds. In order to further develop our defense products and expand our export potential, we have begun evaluating strategic cooperation, partnership and acquisition opportunities with global aviation companies. In this context, we have placed on our radar several global companies producing rotary-wing aircraft, helicopters of different classes and their components.”

Pasifik Eurasia Focused on Expanding Railway Transportation in the Middle Corridor

Erdoğan noted that Pasifik Eurasia has achieved significant international agreements and transport operations since 2019: “As Pasifik Eurasia, we have taken many important steps to support the growth of new transport corridors—particularly the Baku–Tbilisi–Kars (BTK) line—within an approach that positions Türkiye as a logistics center along the Middle Corridor, also known as the Iron Silk Road extending from China to Europe,” he said.

Stating that the improvement and capacity increase works on the BTK line last year have yielded results, Erdoğan emphasized that this line forms the most important part of the Middle Corridor extending from China to Europe via Türkiye. He continued: “The Russia–Ukraine war in the north and geopolitical tensions on southern maritime routes have made the Middle Corridor increasingly advantageous. Following the modernization of the BTK line, its annual capacity increased from 1 million tons to 5 million tons. Therefore, the volume of freight transported through this corridor will inevitably grow.”

Erdoğan added: “Pasifik Eurasia is focused on expanding railway transportation in the Middle Corridor. The developments we have witnessed confirm how right our strategic decision was. From the day we were established, the initiatives we have undertaken in this geography and our collaborations in China—the primary source of freight—clearly demonstrate that our business volume along this corridor will continue to grow.”

He also noted that to ensure seamless east–west freight flow and provide end-to-end service, they have signed multiple cooperation contracts in Europe. In line with increasing business volume and the goal of cost efficiency, Pasifik established Türkiye’s first international railway transport operating company, Pasifik Eurasia DTI A.Ş., in 2024, and began transporting freight toward Europe with its own locomotives and wagons.

Targeting Port and Terminal Investments for 2025

Highlighting that one of the key objectives of Türkiye’s 2053 Transport and Logistics Master Plan is to increase the share of railway transport and integrate ports and organized industrial zones with railway lines, Erdoğan said: “In this context, we have placed on our agenda port and freight terminal investments in strategic locations that hold potential and support the growth of our railway logistics operations. For 2025, our focus is ‘exponential growth.’ We aim to achieve this through an environmentally friendly model. As you know, railway transport is essential for reducing the carbon footprint in logistics. One of our priorities is to expand this eco-friendly model. With this vision, we received the ‘Green Logistics Certificate’ in January 2024 and aim to minimize the environmental impact of our operations, leaving a more livable world to future generations.”

Renewable Energy Projects Continue

Erdoğan said that the energy companies within Pasifik Holding focus on renewable energy, noting that storage-enabled wind and solar energy projects will be implemented in Mardin and Edirne in Türkiye and in Romania in Europe. Erdoğan explained that they launched a modern factory in Giresun that produces pellet fuel from wood residues as part of their environmental responsibility, introducing a new approach to the renewable energy sector. Summarizing their mining operations, he added: “With three operating licenses obtained in the Sivas–Erzincan region, we have begun exploration and preparation works focusing on zinc and lead mines. Throughout 2025, drilling and laboratory tests will continue, and mining reserves and operational methodologies will be finalized.”

Real Estate Sector Expected to Revitalize with Falling Interest Rates

Erdoğan stated that the net asset value of Pasifik REIT has reached 40 billion TL and that this places the company in a strong position to reflect its true market value. He added that their ongoing projects include 353,000 square meters of sellable residential, office and commercial inventory. Highlighting that Pasifik REIT holds a significant place within the holding and that they continue to add value to the sector with innovative projects, Erdoğan said: “The real estate sector has left behind a difficult year. We expect activity in the real estate market to increase in 2025 with declining interest rates.”