A company called Ankara İmar and Türkiye İnşaat Malzemeleri (TIMLO) gets established for real estate development in country.
Later on, Company merges with Ankara İmar and changing its name into ‘İnşaat ve İmar A.Ş.’
Türkiye Emlak Bankası with Emlak Yapı A.Ş., its subsidiary The institution changes its name into Emlak Konut A.Ş.
Emlak Bank’s liquidation process begins Emlak Bank transfers its shares to Housing Development Administration (TOKİ) Emlak Banks transfers its real estates against KEY (Housing Acquisition Support) accounts as equal capital.
A company acquires a REIC status after the transfer of Emlak Bank shares to TOKİ It requests additional time from the CMB due to the ongoing liquidation of the KEY repayment accounts.
A law gets adopted to provide partial exemption to Emlak Konut REIC (except tax exemption) from all capital market regulations applied to other REICs.
After IPO, Public Offering of 25% of the capital TRY 2 billion 500 million
50,4% Free Float Rate, TRY 3 billion 800 million.
Turkey’s largets REIC TRY 23.51 billion: Total assets, 136 Projects-130K Units TRY 1.56 Billion Sales.
250.000 targeted number of units.
BILLION NET ASSET VALUE