What is a Real Estate Investment Trust?

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

What Proportion of Their Capital do the Real Estate Investment Trusts Have to Offer to the Public?

Real Estate Investment Trusts must offer at least 25% of their capital to the public.

What is the Minimum Investment Rate That Real Estate Investment Trusts are Obliged to Make in the Real Estate Industry?

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.

Can Real Estate Investment Trusts Invest in Different Areas?

REITs can invest in money and capital market instruments, provided that they do not exceed 49% of their total asset capacity.

Can REITs Invest in Real Estate in Foreign Countries or Companies Abroad?

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.

Are There Any Restrictions on the Land Investments of REITs?

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.

Can REITs Undertake the Construction of Their Projects?

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.

What are the Advantages of Real Estate Investment Trusts for Investors?

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

What Rights do the Partners of the Real Estate Investment Trusts Have?

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 

When was Şeker REIT Established?

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.

What is the Capital Capacity of Şeker REIT?

The registered capital upper limit of Şeker REIT is 3,000,000,000 TL and its issued capital is 610,166,462 TL.

How is Şeker REIT's Partnership Structure?

Şeker REIT is a 100% Şekerbank affiliate.

What are the Income Sources of Şeker REIT?

Şeker REIT's sources of income are rental income from its real estate portfolio and income from financial assets.

What is Şeker REIT's Independent Auditing Firm?

Şeker REIT Inc is a client of “DRT Independent Audit and Independent Accountant Financial Consultancy Inc.”

Which Valuation Company Offers Valuation Services for Şeker REIT?

Şeker REIT Inc., is a client of Girişim Real Estate Consulting and Valuation Inc.