Akfen REIT in Brief

AKFEN REIT IN BRIEF

Akfen REIT was established in 2006 through a change in trade registry name and a restructuring of Aksel Tourism Investments and Operations (Aksel), which was founded on June 25, 1997, into a real estate investment trust.

Akfen REIT’s core business is to invest in real estate-based capital markets instruments and to create and develop a real estate portfolio. Specialized in the development and construction of middle market hotel projects, Akfen REIT develops city hotel projects under Ibis Hotel and Novotel brands through a strategic cooperation with Accor, Europe’s largest international hotel operator chain.

Akfen REIT’s hotels currently in operation include Ibis and Novotel in İstanbul; Ibis in Esenyurt; Ibis in Ankara; 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 Yaroslavl, Russia; Ibis in Samara, Russia; Ibis in Kaliningrad, Russia, Ibis in Moscow, Russia, the five-star Merit Park Hotel in TRNC, Novotel in Karaköy and Ibis in Tuzla. The Company has a portfolio of 20 hotels in total.

To date, we have welcomed 7 million 532 thousand 096* guests

Aiming to set an example by building three and four star hotels that embody the modern city hotel concept, the Company’s business model is based on leasing these properties to the strategic partner, Accor, through longterm contracts to obtain steady and predictable rental income.

Akfen REIT’s innovative management approach toward its domestic investments is based on the rising tourism demand of the Turkey’s middle class and the increasing mobility of the Turkish business community.

As one of the leading REITs in Turkey in terms of net asset value, Akfen REIT further strengthens its reliable and market leading position with world-class real estate development projects.

Akfen REIT was floated on the BIST on May 11, 2011 and is traded under the ticker “AKFGY.”

 

* Updated on December 31, 2017.