Our Company has been informed by Artaş İnşaat Sanayi ve Ticaret A.Ş. ("Artaş") that the Construction Permits for a total construction area of 317,539.97 m², total of 1015 independent units, comprising 359 residential units and 656 commercial independent units, with respect to the Project planned to be developed on 10636 Block-17 Parcel, located in Ayazağa, Sarıyer District, Istanbul Province, have been obtained.
In the Project, the share of our property, which is subject to the Revenue Share in Return of Land Share and Construction in Return of Flat Agreement (the "Agreement") signed between our Company and Artaş on 10.07.2023, is 69.3%.
As stated in our disclosure dated 10.07.2023, pursuant to the Agreement, our Company's revenue share as the property owner is 47%.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.