REAL ESTATE

Aligned with Akfen Holding’s long-term value creation vision, Akfen Real Estate Investment Trust (Akfen GYO) develops sustainable and high-quality investments in Türkiye’s real estate sector through hotel, office, residential, and mixed-use projects.

Since pioneering the “Contemporary City Hotels” concept in 2007, Akfen GYO has steadily expanded its portfolio over the past 18 years. The Company stands out with projects that are integrated with the urban fabric, environmentally responsible, and centered on user experience. With its strong financial structure, transparent governance approach, and publicly listed company status, Akfen GYO aims to deliver long-term and sustainable value to its investors.

Originally established in 1997 under the name Aksel Turizm Yatırımları ve İşletmecilik A.Ş., the Company was transformed into a real estate investment trust in 2006. Following its initial public offering in 2011, Akfen GYO shares have been traded on Borsa İstanbul since May 11, 2011.

As of today, Akfen GYO’s portfolio comprises 19 hotels, 1 holiday resort, 2 student dormitory complexes, 1 land asset, 1 office building, and 2 projects located in Florida, USA. Among its new investments, Terminal Kadıköy opened its doors on May 1, 2025, while the Bodrum Yalıkavak project is scheduled for completion in the first quarter of 2026.

From Hotel Investments to Portfolio Diversification

Akfen GYO has developed Novotel and ibis-branded hotel projects in Türkiye and Russia and has leased all 19 hotels—15 in Türkiye and 4 in Russia—to Accor Group, one of the world’s largest hotel operators, under long-term lease agreements.

The Company’s portfolio also includes Bodrum Loft, a five-star holiday resort located in Bodrum. As of June 30, 2025, the total number of rooms across Akfen GYO’s 19 hotels stands at 3,342.

Beyond its hotel assets, Akfen GYO’s portfolio includes one office building in Russia, two student dormitory complexes consisting of 13 blocks in total in Türkiye, one factory investment, and a land asset of approximately 210 m² located in the Eskiçeşme district of Bodrum.

Akfen GYO continues to expand its sustainability-focused investment portfolio. While the food, beverage, and culture-art hub Terminal Kadıköy has become operational in Istanbul Söğütlüçeşme, construction is ongoing for luxury villa projects in Bodrum Yalıkavak, an aparthotel project in Milas Kıyıkışlacık, and independent living and senior care facilities in the State of Florida, USA. In Florida, the independent senior living center to be developed on 25.7 acres constitutes the first phase of the project, while the senior care center, to be built on 11 acres, represents the second phase.

Strategic Partnerships and Long-Term Lease Agreements

Akfen GYO entered into a strategic partnership with Accor Group in 2005 and has secured long-term lease agreements for its 19 hotels in Türkiye and Russia, ensuring stable and predictable rental income.

Under the lease agreements signed with Accor, Akfen GYO benefits from a minimum guaranteed rental income. Rental income is calculated as the higher of a predefined percentage of either hotel revenues or adjusted gross operating profit. This structure provides both downside protection through minimum income guarantees and upside potential linked to the operational performance of the hotels.

The Bodrum Loft holiday resort is operated by Akfen Turizm, while the student dormitory complexes are operated by the Credit and Dormitories Institution of Türkiye (KYK).

Büyükdere Cad No: 201/8 Levent Loft C Blok Kat:8 34390 Levent İstanbul/Türkiye

+90 212 371 87 00

www.akfengyo.com.tr