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Central Securities Depository & Trade Repository of Türkiye
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| Evet (Yes) | |||||||
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| Hayır (No) | |||||||
oda_DateOfThePreviousNotificationAboutTheSameSubject| |
| 29.06.2026 | |||||||
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oda_ExplanationSection| |
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oda_ExplanationTextBlock| | As per our Company's KAP announcements dated June 11, 2026, and June 29, 2026, our Company plans to develop a residential project ("Project") consisting of villas on the plots registered in Reşadiye Neighborhood, Çekmeköy District, Istanbul Province, on Plot 598, Lots 18 and 19 (formerly Plot 598, Lots 1, 3, 6, and 7, Plot No. 0, Lots 692 and 923) in Reşadiye Neighborhood, Çekmeköy District, Istanbul Province, as part of a residential project consisting of villas ("Project"), pursuant to the contract signed on November 8, 2024, and Protocol No. 29.06.2026, negotiations with new construction companies, it was announced that a decision was made to restructure the ownership shares of the independent units within the Project so that 52.09% of the value would belong to the Company and 47.91% to the Landowner, and that these amendments would be implemented as an addendum to the main contract dated November 8, 2024; furthermore, the addendum was signed on June 29, 2026. At this stage, bids were received from the five firms invited to the "Main Contracting Works Tender" and which had received the tender documents; it was observed that the lowest bid—calculated as the projected total construction cost plus a 9% profit margn—was submitted by the Aramis – QC Construction General Partnership. Since Aramis – QC Construction General Partnership is a related party of our Company, in accordance with Article 9 of the CMB Corporate Governance Communiqué, a valuation report was commissioned from Eva Real Estate Valuation and Consulting Inc. prior to the transaction. According to the report, which is also attached, a cost of 523,859. 189 TL; as a result of the assessment conducted under current market conditions, it was determined that the profit percentage to be added to the project's total construction cost fell within the range of 10% to 20% in the market. It was determined that the contractor's share of 9% falls below the general construction profit margns under comparable market conditions; the terms of the transaction to be carried out are protective and advantageous for our company compared to market comparables; and it is in compliance with the provisions of Article 9 of the Capital Markets Board's Corporate Governance Communiqué (II-17.1),
At our Company's Board of Directors meeting held on July 28, 2026, it was decided to sign a Program Management and Construction Contract between our Company and the Aramis–QC Construction General Partnership, acting as the "Prime Contractor," under the cost-plus-9% profit method; the contract was signed today (July 28, 2026). This is the translation of the Turkish disclosure made through the Public Disclosure Platform. In accordance with CMB legislation, in case of any difference between the Turkish and English versions of this disclosure, the Turkish version shall prevail. | ||||||||
We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.
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