AKFEN REIT
 
Akfen RETC [%100]
 
 
Akfen Karaköy Real Estate Investment and Construction Co. Inc. [%91.5]
Akfen İnşaat Tur. ve Tic. A.Ş. ve Akfen GYO A.Ş. Adi Ortaklığı [%99]
RHI [%97,72]
Samstroykom
Yaroslavllnv
Kaliningradlnvest
RPI [%95,15]
Volgastroykom
Hotel Development & Investments B.V. [%100]
Severnyi Avtovokzal Limited
 
The main fields of activity include investing in real estate and developing, operating and outsourcing the operations of real estate. Akfen RETC, which is currently 100% owned by Akfen REIT, generates rental income from its 5-star hotel located in TRNC. The 5-star Merit Park Hotel located in Kyrenia province has been operational since 2007. Also Akfen RECT’s Russian investments which are Ibis Hotel Yaroslavl, Ibis Hotel Samara. Ibis Hotel Kaliningrad and Samara Office, became operational. Akfen RETC holds a 97,72% stake in Netherlands-based Russian Hotel Investments B.V. (RHI) and 95,15% stake in Russian Property Investment B.V. (RPI).
Headquartered in the Netherlands, Hotel Development and Investments B.V. (HDI) was established to develop hotel projects in Russia. Akfen REIT holds 100% of the shares of HDI, which currently has a hotel development project under construction in Moscow.
Established with a 91.5% partnership of Akfen REIT, Akfen Karaköy Gayrimenkul Yatırımları ve İnşaat A.Ş. (Akfen Karaköy Real Estate Investment and Construction) is a special purpose subsidiary to develop real estate projects in Karaköy, İstanbul. The company engages in planning, construction and/or contracting out the construction, leasing, operating and outsourcing of miscellaneous tourism facilities, hotels and real estate investments. The company has an in operation hotel project in Karaköy.
RHI’s main aim is to develop hotel projects in Russia where the Company gather other companies that are established in Russia, under the same roof for hotel projects. The active companies presented in the table.
RPI purposes to develope projects other than hotels in Russia, thus the companies that are established for these projects are organized under RPI.

In December 2010, Eastern European Property Investment Ltd. (EEPI) transferred 45% of its shares in RHI and RPI to Kasa Investments B.V. and 5% of its shares to Cüneyt Baltaoğlu. In July In December 2010, Eastern European Property Investment Ltd. (EEPI) transferred 45% of its shares in RHI and RPI to Kasa Investments B.V. and 5% of its shares to Cüneyt Baltaoğlu. 
 
Akfen Karaköy Yatırımları ve İnşaat A.Ş.’s 19,9 capital belongs to Akfen GYO A.Ş. and 71,6% belongs to Akfen GT A.Ş.