Our Company has been informed by its wholly-owned subsidiary Ardus Gayrimenkul Yatırımları A.Ş. ("Ardus"), which operates in the real estate sector, that Ardus has executed today a Flat-for-Land Construction Agreement with TÜR-SUM / D.A.B. İş Ortaklığı Ticari İşletmesi within the scope of the residential project being developed on its land located in Denizli.
TÜR-SUM / D.A.B. İş Ortaklığı Ticari İşletmesi is a joint venture established by TÜR-SUM İnşaat and D.A.B. Mühendislik (as the pilot partner) each holding a 50% share. The new project has been planned as the second phase of the Sümerpark Evleri Project, the first phase of which was previously completed by our Group consisting of 3 blocks.
The construction period of the second phase, which is planned as a complex comprising 3 blocks, the parking areas and a swimming pool, allocated to such blocks, sports facilities, social facilities and; landscaping areas serving the entire residential complex, and all related infrastructure, superstructure and common areas, is expected to be 36 months, with occupancy expected to commence after 42 months.
Upon completion of the construction works, it is expected that Ardus will retain 48 independent units with a total sellable area of 7,185 sqm.
This statement has been prepared both in English and Turkish. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
Respectfully,