They are capital market institutions that are allowed to invest in real estate investment trusts, real estates, real estate projects, real estate-related rights and capital market instruments. They can be founded or allowed to carry out specific projects or to invest in a specific real estate and can engage in other allowed operations and are exempt from the corporate tax obligations, in accordance with the Law on Capital Markets (Law on Corporate Taxes, articles 5/1-d-4).
* Source: CMB
Real Estate Investment Trusts must offer at least 25% of their capital to the public.
REITs have an obligation to invest at least 51% of their total assets based on their real estate, real estate-based projects and real estate-based rights.
REITs can invest in money and capital market instruments, provided that they do not exceed 49% of their total asset capacity.
REITs can only invest in foreign companies abroad provided that their activity area is merely real estate and provided that this investment does not exceed 49% of their total asset size.
The ratio of lands or fields purchased by REITs but no project is launched on them within five years, cannot exceed 20% of their total assets.
REITs can in no way undertake the construction works of real estates themselves, nor can they acquire personnel and equipment. If the control works of the projects are to be carried out internally, the personnel employed for this purpose is exempt. The construction works of the projects are carried out by contractor companies.
The state offers tax subsidies because housing and real estate are considered a public concern. As a result, these subsidies make real estate investment partnership advantageous in the financing of real estate projects. In addition, factors such as reducing risk through diversification, financing investment through borrowing and depreciating are the factors that make real estate investment attractive for investors.
* Source: CMB
According to the Turkish Commercial Code, investors are entitled to: • the right to receive the portion of the partnership's share in case of profit distribution,
• the right of liquidation share in case of liquidation of the partnership,
• the right to obtain new shares free of charge, when the Trust issues new shares due to a capital increase using its own resources
• the preferential right for n the purchase of new shares in capital increase of the Trust,
• the right to attend, speak and make recommendations during the general assembly meetings,
• the right to vote in general assembly meetings,
• the right to receive information, review and audit of the company's activities and accounts.
Source: CMB
Şeker GYO A.Ş. was established in 2017 as Şeker Project Development and Real Estate Investment Inc and became a "real estate investment trust" in January 2020.
The registered capital upper limit of Şeker REIT is 3,000,000,000 TL and its issued capital is 610,166,462 TL.
Şeker REIT is a 100% Şekerbank affiliate.
Şeker REIT's sources of income are rental income from its real estate portfolio and income from financial assets.
Şeker REIT Inc is a client of “DRT Independent Audit and Independent Accountant Financial Consultancy Inc.”
Şeker REIT Inc., is a client of Girişim Real Estate Consulting and Valuation Inc.