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Şişli’s Urban Transformation Starts with Building Completion Insurance!

Emphasizing that they have defined three titles under the
program, namely Building Strengthening, Building Renewal,
and Regional Urban Transformation, Keskin continued his
words as follows: “In this process we are in; we continue
to develop the ‘Building Strengthening Insurance’ product
in collaboration with our program partner Quick Sigorta.
Today, we are taking the most significant step in the building
strengthening program by launching Building Completion
Insurance with Quick Sigorta and starting the ‘Insured Urban
Transformation’ process.

As for Building Renewal, we have entered into a program
partnership agreement with COVEC, one of China’s most
important state-owned enterprises and the world’s largest
Şişli Municipality and Quick Sigorta will set a precedent in construction company. On this historic day, I would like to
urban transformation by implementing Building Completion express my gratitude to Quick Sigorta officials, who added
Insurance in urban renewal projects in Turkey. KENTHAŞ, a the concept of ‘Insured Urban Transformation’ to the Şişli
subsidiary of Şişli Municipality, and Quick Sigorta have signed Urban Resilience Program, through Mr. Ahmet Yaşar, the
a protocol to implement Building Completion Insurance in Chairman of Maher Holding Insurance Group.”
urban renewal projects to be carried out in Şişli district.
In his speech following President Keskin, Ahmet Yaşar, the
KENTHAŞ and Quick Sigorta have signed an agreement to President of Maher Holding Insurance Group, pointed out
implement Building Completion Insurance in urban renewal that the journey of building completion insurance in Turkey

projects in Şişli district. On Tuesday, December 19th, the began to be discussed in 2013 and said “It began to find its
press conference and protocol signing ceremony for the place in certain regulations that came into effect in 2014.
‘Insured Urban Transformation Project’ took place at In 2015, with the publication of the general conditions, it
Wyndham Grand Istanbul. The event saw the participation of found its place in insurance regulations, and in 2018, it came
Şişli Municipality Mayor Muammer Keskin, Maher Holding to life with Quick Sigorta offering the ‘Building Completion
Insurance Group Chairman Ahmet Yaşar, KENTHAŞ General Insurance’ product to the market. However, from that day
Manager Özcan Biçer, Quick Sigorta General Manager Eyüp until today, we haven’t actually realized a fully-fledged
Özsoy, along with Şişli Municipality Council members, and project. Yes, some individual projects were carried out, but
representatives from the insurance and real estate sectors. with the vision and foresight of the scale we are launching
today, this project is being realized for the first time. Just
In his speech at the signing ceremony, Şişli Municipality when we had completely lost hope, Mayor Muammer and Mr.
Mayor Muammer Keskin pointed out that they have started Özcan took steps that truly inspired us.”
risk analysis studies to examine the building stock throughout
the district. He mentioned that they have prepared an Yaşar continued his words as follows: “Because our country
Urban Transformation Strategy Plan and, in this context, is truly an earthquake-prone country, we face the risk of
conducted a building analysis of the district. All the data earthquakes, and earthquakes do not let us forget themselves.
has been transferred to the ‘Disaster Portal,’ where it can be Just two days ago, the earthquake reminded us again.
thoroughly examined. Many of us felt it deeply. We began to relive some traumas.
Now, in the earthquakes on February 6, the great disaster
Keskin also mentioned that they have created a 3D digital we experienced in Kahramanmaraş, Antakya, and 11 other
twin of the entire Şişli, providing an important foundation provinces actually faced our country with an economic damage
for more accurate calculations. He emphasized that they have of 100 billion dollars. It’s not just the victims who lived in
prepared a disaster plan in collaboration with the Disaster these houses, the lives we lost; in fact, the amount spent to heal
Coordination Center (AKOM) and the Transportation the wounds of the earthquake in this year’s budget is 1 trillion
Planning Department affiliated with the Istanbul Metropolitan lira. This will continue in the future as well. Therefore, the
Municipality (IBB). 100 billion dollars, for no apparent reason, will be spent on
healing the wounds of the earthquake instead of contributing
Indicating the establishment of Şişli Municipality Disaster to the development of our country. However, within this 100
Management Directorate to coordinate these efforts, Keskin billion dollars, the insured damage is around 5 billion dollars.
mentioned “In the framework of collective wisdom, we have In other words, the Turkish Insurance Sector quickly did its
created the experiential capacity to solve this challenging part, fulfilled its duty. It covered a 5 billion dollar loss and
problem. In this regard, we have called on experienced and replaced it. Of course, we cannot bring back lives, but we can
strong entities from the public, private, and civil society compensate for economic losses. Unfortunately, we can only do
sectors to actively participate in this process. As a result of this within the scope of the duty assigned to us. There was a 5
this process, we have recorded Şişli Resilience Program as billion dollar insurance, and we were able to realize 5 billion
the first resilience program written by a district in Turkey’s dollars in compensation, whereas we could have paid 100
history.” billion dollars.”