In the framework of its strategic cooperation agreement with the Europe’s largest international hotel chain operator Accor, Akfen REIT develops city hotel projects under the brands Ibis and Novotel.
Akfen REIT’s core business consists of investing in real estate-based capital markets instruments, as well as creating and developing a real estate portfolio. Established on June 25, 1997 under the trade name Aksel Turizm Yatırımları ve İşletmecilik A.Ş. (Aksel Tourism Investments and Management), the Company was restructured and registered as a real estate investment company on August 25, 2006, following the approval of the Capital Markets Board on July 14, 2006. Akfen Holding holds a 56.88% stake in Akfen REIT.
Akfen REIT has an strategic cooperation agreement with the world’s third largest and Europe’s largest international hotel chain operator Accor. The Company has an agreement for developing city projects under the brands Ibis and Novotel in Turkey and Russia. Akfen GYO (Real Estate Investment Trust) has reached a portfolio including 20 hotels, Zeytinburnu Ibis and Novotel in Istanbul, Esenyurt Ibis in Istanbul, Ibis in Tuzla, and Novotel in Karaköy, Istanbul , Ibis in Eskişehir; Novotel in Trabzon, Ibis and Novotel in Kayseri, Ibis and Novotel in Gaziantep, Ibis in Bursa, Ibis in Adana, Ibis in İzmir, Ibis in Ankara, as well as Ibis in Yaroslavl, Samara, Kaliningrad, and Moscow, Russia and a five-star hotel in the Turkish Republic of Northern Cyprus in operation
Akfen REIT went public on May 11, 2011 and since then it is traded on the ISE under the ticker symbol “AKFGY”. After the IPO, the shareholding structure of the Company was as follows: the free-float rate is 29.41%, Akfen Holding controls 51.27%, Hamdi Akın 16.4% and other shareholders 2.46%. As Akfen Holding repurchased 4.37% of total stock to ensure price stability during the IPO, the Holding’s overall stake in Akfen REIT rose to 56.09%.
|No||City||Brand||Status||Start of Operations|
|1||İstanbul Zeytinburnu||In Operation||2007|
|2||İstanbul Zeytinburnu||In Operation||2007|
|3||KKTC Merit Park Otel||In Operation||2007|
|12||İstanbul Esenyurt||In Operation||2013|
|15||İstanbul Karaköy||In Operation||2016|
|16||İstanbul Tuzla||In Operation||2017|
|No||City||Status||Start of Operations|
|2||Samara Ofis *||In Operation||2012|
|3||Yaroslavl *||In Operation||2011|
|4||Kaliningrad *||In Operation||2013|