In the material event disclosure announcement published by our company on 28.06.2013: Torunlar REIC submitted the highest bid in the revenue sharing project tendered out by Kiptaş (İstanbul Residence Development Plan Industry and Trade Inc.), a subsidiary owned by İstanbul Metropolitan Municipality for a landplot of 515.977,11 m2 situated in İstanbul, Eyüp borough, Güzeltepe (Alibeyköy) district, Çobançeşme vicinity for the second phase of Kiptaş Finanskent where residential, retail units, religious, university and social facilities as well as common areas, infrastructural and environmental settlements, open-air and closed parking lots, recreational and greenery areas will be constructed. With the approval of the tender, Torunlar REIC and Kiptaş signed the contract to construct the second phase of Kiptaş Finanskent in return for asset-sharing, According to the contract, 45,72% of the construction area will be owned by Kiptaş with 54,28% by Torunlar REIC. If there’s a hike in the construction area, the latter will be shared according to the same ratios.. The works within the scope of the aforementioned "Asset-Share Method" contract have been completed and on 16.06.2021, 2484745/434056 shares of the land with a size of 43,405.61 m2 (5.Levent Phase 2 residential project) located in İstanbul, Eyüpsultan, 858 Island, Parcel no: 2 were acquired by our company from the Silahtar Abdullahağa Foundation. As the obligations of our company have been completed within the scope of the same contract, 1752316/4340561 shares belonging to Kiptaş İstanbul Residence Development Plan Industry and Trade Inc., the other owner of parcel 858/2, have been acquired free of charge by our company following the completion of the administrative procedures on 18.04.2022. As of today, the full ownership of the aforementioned parcel belongs to Torunlar REIC.
In its meeting dated 26 January 2022, the Board of Directors decided to appoint Invest Property Valuation and Consulting JSC as the sole appraiser for each asset to be valued in our portfolio and Reel Property Valuation JSC for the assets to be purchased and to be valued in 2022 according to Article 35 entitled “Selection of the Real Estate Appraisal Company” of the Communiqué Serial: III and No: 48-1 on the principles of the REIC's. Sincerely,
In accordance with subparagraph ç of paragraph 3 of Article 40 of the Capital Markets Board's Communiqué on Principles Regarding Real Estate Investment Trusts numbered III-48.1; Within the scope of sales and leasing transactions that do not exceed 2 percent of the total assets in the last financial statements disclosed to the public; a total of 54,653,155.85 TL (excluding VAT) leasing and 537,549,031.26 TL (excluding VAT) sales transactions were realized in 2021 regarding the immovable properties in the company portfolio. Sincerely,