TAV Construction is a member of the TAV Group, which was founded in 1997 when two leading Turkish conglomerates, Tepe Group and Akfen Holding teamed up to bid on (and be awarded) the Build-Operate-Transfer (BOT) contract for the new Istanbul Ataturk Airport. The immediate aim of the company was to pursue the first airport in Turkey to be developed under privatization with the BOT model. Meanwhile, the broader vision was to branch out into airport construction, financing, operations and related consulting and management services in the global arena.