Valuation Research Global (VRG) has announced the addition of Turkish valuation firm Denge Değerleme to its international network, marking a significant expansion into the Turkish market. The partnership brings VRG's established valuation services to Turkey through a firm with substantial local expertise and regulatory standing, offering clients access to comprehensive valuation solutions that meet both international and local standards.
Denge Değerleme, founded in 2005, provides a wide range of valuation and advisory services across multiple asset classes, including real estate, machinery, equipment, corporate assets, and insurance. The firm holds accreditation from the Royal Institution of Chartered Surveyors (RICS) and is authorized by both the Capital Markets Board of Turkey and the Banking Regulation and Supervision Agency. It also has received a Certificate of Excellence in Quality from The Socrates Committee in Oxford, UK. These credentials underscore the firm's commitment to high standards and regulatory compliance, which are critical for HR vendors and other businesses operating in Turkey's complex regulatory environment.
The firm serves a diverse client base that includes banks, financial institutions, corporations, investors, and public entities. Its team combines experienced appraisers, engineers, and financial professionals with advanced technological infrastructure to deliver high-volume, high-quality reporting. Notably, Denge Değerleme is recognized for having Turkey's largest machinery and equipment appraisal team, a capability that adds significant value for clients in manufacturing and industrial sectors. In 2024, the firm completed nearly $40 billion USD worth of tangible fixed asset valuations, demonstrating its scale and expertise.
Leadership at Denge Değerleme includes Baki Budakoğlu as Chairman and Simla Budakoğlu Sönmezler as General Manager and Board Member. Cem Kurt, European Region Manager, serves as the primary contact for global inquiries and leads international collaborations. The firm operates 10 offices across Turkey and one in the Netherlands, employing 113 certified valuers and a full team exceeding 150 professionals. More information about the firm is available at https://www.denge.com.tr.
VRG, formed in 1995, maintains a global network with over 1,500 professionals across member firms. The group provides expert and independent valuation opinions for business enterprises, intangible assets, real estate, and personal property, serving clients in more than 100 countries. VRG's international offices span five continents with nearly 50 locations across North, South and Central America, Europe, Asia, and Australia.
The addition of Denge Değerleme strengthens VRG's presence in a strategically important market while expanding the network's capacity to serve clients with complex international valuation needs. For HR vendors, this partnership means that clients with global operations can now access consistent, high-quality valuation services in Turkey, ensuring compliance with local regulations while adhering to international standards. This move also highlights the growing importance of Turkey as a market for business services, and VRG's expanded footprint may encourage other HR and valuation providers to consider similar expansions. Ultimately, the partnership provides Turkish businesses with enhanced access to global valuation standards and expertise, while offering VRG's international clients local market knowledge and regulatory compliance in Turkey.
